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04 CTS SPORT/LUX W/NAVI LIGHT PLATINUM ON BLACK- COOL MODS!
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Discussion Starter #1
I called Allstate wondering what taking so long to process my claim and they said that its because the car is a "borderline total". The adjustor is going today to look at it and make a decision.

I really dont understand this. The body shop told me the damage is 9-10k. Currenty KBB on a fully loaded 2004 CTS with 46K is $24,000. If im not mistaken, a vehicle can only be declared salvage if the repair costs more than the value of the car. So what happens if they declare it a "total loss". What do i get?

There's no way this can be declared a total loss beacuse the damge isnt really that bad. The hood and bumper got trashed, but outside of the radiator, the inside components are all intact.
 
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Check on this but I think if they total it you get first dibs on buying it back...
I called Allstate wondering what taking so long to process my claim and they said that its because the car is a "borderline total". The adjustor is going today to look at it and make a decision.

I really dont understand this. The body shop told me the damage is 9-10k. Currenty KBB on a fully loaded 2004 CTS with 46K is $24,000. If im not mistaken, a vehicle can only be declared salvage if the repair costs more than the value of the car. So what happens if they declare it a "total loss". What do i get?

There's no way this can be declared a total loss beacuse the damge isnt really that bad. The hood and bumper got trashed, but outside of the radiator, the inside components are all intact.
 
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and if it has gray/blk seats and door panels...I get first dibs on those.
 

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2006 CTS 2.8L
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2,471 Posts
Maybe they will total it and give you a 2008 awd cts for free.
 

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Black the Darkside
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I had a Lincoln Mark VII that was involved in a wreck. It too was borderline. They elected to fix it. The frame was bent and I really didn't want the car back. I told them that this Lincoln would have to be perfect and I would not be easy to get along with and would nit-pick the car to death. They then totaled it and I bought a Buick Rivera. Nice ending for me.
 

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2014 Cadillac CTS VSport
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2,318 Posts
I called Allstate wondering what taking so long to process my claim and they said that its because the car is a "borderline total". The adjustor is going today to look at it and make a decision.

I really dont understand this. The body shop told me the damage is 9-10k. Currenty KBB on a fully loaded 2004 CTS with 46K is $24,000. If im not mistaken, a vehicle can only be declared salvage if the repair costs more than the value of the car. So what happens if they declare it a "total loss". What do i get?

There's no way this can be declared a total loss beacuse the damge isnt really that bad. The hood and bumper got trashed, but outside of the radiator, the inside components are all intact.
Do you have Accident Forgiveness with them? If so you might just get a new one.
 

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04 CTS SPORT/LUX W/NAVI LIGHT PLATINUM ON BLACK- COOL MODS!
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Discussion Starter #9
But if they do declare it total what do i get? Do i get another 04 cts like the one i have now? Do i get KBB value for it? Do it get retail/wholesale value for it?
 

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2005 CTS 3.6 Auto w/ Sport & Luxury Packages
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If the vehicle is totaled, you would be offered the Actual Cash Value (ACV) of the vehicle. If their first offer is not to your liking, you can get three estimates from neutral third parties to increase the offer from the insurance company. Most insurance companies will average out the estimates and make a final offer. You don't have to rely solely on KBB if you can show that other similar vehicles cost more than what they offered. Remember to include cost for mods and aftermarket parts.

If the car is borderline, have them total it and get yourself a new ride. Borrow a friend's car until the '08 comes out or negotiate a great deal on an '07 because the cost new should drop with the new model year arriving.
 

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03 CTS 5sp manual, 07 STS
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If the vehicle is totaled, you would be offered the Actual Cash Value (ACV) of the vehicle. If their first offer is not to your liking, you can get three estimates from neutral third parties to increase the offer from the insurance company. Most insurance companies will average out the estimates and make a final offer. You don't have to rely solely on KBB if you can show that other similar vehicles cost more than what they offered. Remember to include cost for mods and aftermarket parts.

If the car is borderline, have them total it and get yourself a new ride. Borrow a friend's car until the '08 comes out or negotiate a great deal on an '07 because the cost new should drop with the new model year arriving.

:yeah:

Additionally, If you decide to keep the car you will receive the ACV, MINUS the salvage value of the car. If you use the money to fix the car you will receive a salvage title for the car which may affect the resale value.
 

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04 CTS SPORT/LUX W/NAVI LIGHT PLATINUM ON BLACK- COOL MODS!
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Discussion Starter #14
Update- I was told that they are not going to salvage it. Total damage, as per the body shop is about 11k, and the insurance company says the car is worth 17k (no way! at least 20).

I really dont know how the repair cost is that high. My front end got F*ked up, and my grill is bent in, but none of the components under the hood were damaged (except the radiator).....

The guy at the body shop said there is no structrual damage. So it gonna be 11k to fix up my front end and get a new dash.
 

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2005 CTS 3.6 Auto w/ Sport & Luxury Packages
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If the damage to the car is over 50% of the estimated value, get three estimates for a settlement, add in the cost of mods, and cash out. Salvaging a vehicle is gamble because it makes it that much harder to sell the vehicle down the line. Most buyers are going to mark down the car significantly if it has a salvage title, so getting your money out of it in the end is unlikely. Better to take your settlement, after negotiating as already discussed to get what you deserve, and invest in a different or newer vehicle.
 
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