|
|
|
|
|
|
BMW Garage | BMW Meets | Register | Today's Posts | Search |
|
BMW 3-Series (E90 E92) Forum
>
Question on total lost of my car
|
|
10-17-2012, 08:59 PM | #1 |
Second Lieutenant
15
Rep 275
Posts |
Question on total lost of my car
Who decides and figure the value of it?
I got a call from insurance and they concluded my car is worth $20.700 and I still own $8.800 to BMW which leaves me with $11.900 Before the crash was worth around 23K according to KBB. Lou.
__________________
R.I.P 10/14/12 |
10-17-2012, 09:35 PM | #3 |
Brigadier General
1792
Rep 4,216
Posts |
^ what he said.
__________________
2020 F87 M2 Competition /l\ LBB /i\ Executive Package 2013 E70 X5M /l\ Space Grey /i\ Full Silverstone Leather /l\ LED Headlights /i\ Comfort Access /l\ HUD /i\ Ventilated Seats /l\ 22" BBS SV BMW CCA Member |
Appreciate
0
|
10-17-2012, 09:42 PM | #4 |
resident girl.
59
Rep 1,017
Posts
Drives: 2008 335i + 2014 X5
Join Date: Dec 2011
Location: DFW, Texas
|
Yep, what they said.
Insurance companies take an average of what comparably-equipped cars are selling for in your area. They always lowball the initial estimate, so do some research (Autotrader, local ebay motors sales, Craigslist, and you can even use the price you paid for your car if you bought it recently enough), and don't take their first offer. If you are willing to spend a few dollars I believe there are professionals who offer research and value estimation services to help you with the claims process. Sorry about your car
__________________
2008 E90 335i // Black Everything // photos COBB tuned / QTP e-cutouts / Helix FMIC / cp-e DCI / AWE BOVs / Catless / FBO + F15 X5 xDrive35i |
Appreciate
0
|
10-17-2012, 09:51 PM | #5 |
Brigadier General
89
Rep 3,732
Posts
Drives: BMW S1000XR
Join Date: Jun 2011
Location: Gilbert, AZ
|
I just checked into diminished value b/c my wife's MDX was hit. Unfortunately, Illinois is one state that does not honor DV b/c it would void insurance contracts according to our fine State Appellate court. I found that every insurance company has a different formula to calculate the value of a car following a crash. They never consider fair market value. They take into consideration the value of your car prior to the accident which is why some say you must have the car appraised immediately, not by your insurance company. Dont accept the insurance companies offer and the best recommendation I could find was get a lawyer who will communicate with your insurance company. GL.
__________________
BMWCCA member |
Appreciate
0
|
Bookmarks |
|
|