Insurance Total Loss on 05 CTS 137K MILES for $8441

1853 Views 10 Replies 8 Participants Last post by DopeEffect, Mar 10, 2015

[email protected]

Discussion Starter · Mar 4, 2015 (Edited by Moderator)

Hello, I recently hit black ice and ended up hitting someone. I had full coverage. The other car was about $2600 in damage and mine was estimated at $8440 with out even opening up the car. So they decided to total the car. They offered me $8441 for the car and to pay for my tax and title and registration for a new car so it came to around $8900 or so. They offered to let me purchase the car back for $830 and I told them no. They then offered it for $675.

The car drives fine it just needs a new driver side fender, front and back door, a new bumper and the quarter panel to be hammered back out. After my deductible of $250 and the cost of buying the car back I would get a check for about $8,297.

1st question. Is that a fair price for this car. It was a luxury sport hi feature with every options except navigation.

2nd question. Is it worth buying it back our should I just take the full offer and run.

3rd question. What could I get for the car after I fixed all but the quarter panel like new.

Last question. It won't have a rebuilt or salvage title. do I risk liability if I sell the car after its been in an accident.

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schmoses

· #2 · Mar 4, 2015

KBB shows retail around 8200 on the high side, so sounds like a fair deal to me, but I would check NADA(tends be a bit higher than KBB in my experience) and look at what cars with the similar options/miles are going for in your area(check autotrader and craigslist). If that is their initial offer, there is a chance they may go up some if you can show them that similar cars are going for more money.
As far as buying it back, personally I would. You could easily part it out or sell it to someone else for more than $700 and have a little bit more money in your pocket, or you could fix it and still have a decent car to drive with money left over in your pocket. If you are ready to just move on to something else, I'd forget it and let it insurance have it.

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kaitagun

· #3 · Mar 4, 2015

can you post some picture? It will be better for us.

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SuperDaveSTS

· #4 · Mar 4, 2015

I'd buy it back and fix it if you plan on keeping it for a while, but thats just me.

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bobstoy

· #5 · Mar 4, 2015

Even after repairs, the title will always show salvage vehicle and would be hard to sell or insure.

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CaptSoloNJ

· #6 · Mar 5, 2015

It seems more than a fair reimbursement.
Unless you have the time and skills to restore it, (and get it perfect to your own satisfaction); and as much as I love my cars, (especially the Caddys), I would take the money and move on.

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RiverGambler

· #7 · Mar 5, 2015

Those numbers are really good. I buy wrecked CTS's and wish I could buy them that cheap. If you were closer I'd tell you to take it, and then buy it off you. Does it still drive and would it make the trip back up to Northern Michigan ok?

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schmoses

· #8 · Mar 5, 2015

bobstoy said:
Even after repairs, the title will always show salvage vehicle and would be hard to sell or insure.

As long as you are aware that it is not ever going to be worth what a clean title car of the same make/model is worth, it is really not that big of a deal. The only issue is getting loans on a prior-salvage title car. Alot of banks won't loan money on them, but if you are like me and don't like having a car note, that is not a problem.

I'm not sure on this, but I think if the car is over a certain number of years old(10 maybe?), they don't issue a salvage title anyway. This could vary by state though.

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SuperDaveSTS

· #9 · Mar 6, 2015

Just bring it in to your local Dodge dealership lol

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[email protected]

Discussion Starter · #10 · Mar 6, 2015

:joy: lol superdavests, small world we live in huh. The car drives great still just not pretty. I want to keep the car but my wife is going nuts about driving our son around in it. I have a short list and a long list of needs and wishes on the caddy but $675 for the car and another $600-$900 in fender, and two doors is really all it needs. The guy at State Farm said that it wouldn't have a salvaged title but I need to sign a salvage agreement .

The agreement is just saying that State Farm in no way is claiming the car to be safe to drive and that I accept all liability or something along those lines.

I have my eye on a 2011 sts with full options and 43k miles for $19500.

I offered them 17.5 via email befor I left work let's see if they bite.

Edmonds had the highest price and let me pick more options. Then kbb then nada.

The car realistically could make it up to up Michigan but that's a far drive.

I think I will keep the car fix it up exept the quater panel. Maybe attempt to hammer the quarter pannel out later this year and do a home rattle can spray on it. It sounds like that's what everyone else would do. Keeping the car.

I'm defiantly going to have to buy another caddy though. I've Ben spoiled with no payments for the last 2.5 years or so. Is the sts a better car at then the newer c t s

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DopeEffect

· #11 · Mar 10, 2015

[email protected] said:
:joy: lol superdavests, small world we live in huh. The car drives great still just not pretty. I want to keep the car but my wife is going nuts about driving our son around in it. I have a short list and a long list of needs and wishes on the caddy but $675 for the car and another $600-$900 in fender, and two doors is really all it needs. The guy at State Farm said that it wouldn't have a salvaged title but I need to sign a salvage agreement .

The agreement is just saying that State Farm in no way is claiming the car to be safe to drive and that I accept all liability or something along those lines.

I have my eye on a 2011 sts with full options and 43k miles for $19500.

I offered them 17.5 via email befor I left work let's see if they bite.

Edmonds had the highest price and let me pick more options. Then kbb then nada.

The car realistically could make it up to up Michigan but that's a far drive.

I think I will keep the car fix it up exept the quater panel. Maybe attempt to hammer the quarter pannel out later this year and do a home rattle can spray on it. It sounds like that's what everyone else would do. Keeping the car.

I'm defiantly going to have to buy another caddy though. I've Ben spoiled with no payments for the last 2.5 years or so. Is the sts a better car at then the newer c t s

Get an 09+ CTS V.

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