Destiny350Z

I'm glad you're working on it!LOL Just remember who gives you sex<--A woman!!! Hopefully

Destiny350Z

Hehehe I kind of like that shirt!! ...I should have got a shirt that said two kinds of men pick one and there was a pic of a dog and a pic of a pig!!! I don't know why I didn't get that shirt

DM4

Fell bad about your car. I have absolutley no bad feelings about the drunk girl getting locked up. There is simply NO excuse for drinking and driving. It sounds as if she was driving the boyfriend's car. If this is the case, and being a retired cop, I would have also charged the boyfriend with allowing her to drive his car while she was drunk. In NJ, allowing someone else to operate your car while drunk carries the same penalty ad DUI.... so there...

350G

iTrader: (4)

Heh, didn't know that about charging the boyfriend too. KY is fairly strict on DUIs since the notorious Carroll County bus crash in the 1980s. I personally lost my best friend on that one (about 27 died & several injured) and plead with my parents to let me go on that very trip. I guess it just wasn't in the cards for me.

On another note, I need some help. People keep telling me that I should ask for "new car depreciation" since if I trade-in or sell the vehicle, I cannot recoup the market value due to the fact that its now a wrecked vehicle. What should I ask for? I bought the car for $30K and added $15K in mods. The Z was in immaculate condition at the time of the incident . . .

G

Faluzure

Hey Gary,

Let me know how everything goes tomorrow. I still feel really bad about your car. You're one hell of a guy for not losing your cool. I think the majority of us here would have blown our tops. Mad props to you for that.

New car depreciation usually refers to the amount lost if you were to buy a car new off the lot, then selling it back the same day. The depreciation on a new car is a lot greater than regular depreciation on a used car. This is because when buying new, it is the price that the dealer charges for a car. Anything used is then dropped to the "wholesale" category. For example, if you were to buy a new car at $19,000, a used car of the same type/condition with just 100 miles on it would be around $15,000. Since your car was an '03, it may be hard to ask to cover the new car depreciation. The insurance company may not agree.

Regardless, when you go to the meeting tomorrow, you need to print out online appraisals for your car. Don't just pick one website and use that. Each website varies on it's appraisal process. The following are the leaders in car appraisals: KBB, Edmund's, and Nada Guides. **DO NOT use trade-in price**. Trade-in price is usually lower because dealer needs to service & make any repairs to the car prior to selling it. After they fix it up, they sell the car for the dealer retail price (which is inflated because they have to make a profit on the vehicle). The price you want to record & use is the private party price. This is the most fair pricing for your car since there will be no hidden costs. Be sure to select all the standard stock options that came with your car (that you still have). In addition, select a high vehicle condition. This is most likely what your car is worth since your car was pretty much in perfect condition.

Now, the insurance company may also want an estimate on the current value of your mods. I'm not sure if that $15K included labor done by Street Sports or not, but you can't include labor in the estimate price. Since your mods are used, you won't get as much money out of them either. It all depends on who the insurance company will choose as an appraiser for them. For safe measure, you can probably get Shawn or someone to give you an estimate & use that.

Another thing to note if your car is considered totalled. The mods in your car are still yours. So be sure to take ALL the useable mods out of your car; the insurance company may not give you a fair price for them. Once they write you that check, the car is theirs.

Good luck tomorrow!

P.S. bloodwings19 is right. The DUI thing should give you major leverage. In addition to the fact that it was the boyfriend's car and he let his *drunk* girlfriend operate the vehicle. You can pretty much say the girl & the guy are ****ed. The girl's insurance company will probably revoke their insurance on her and the guy's insurance will skyrocket through the roof.

350G

iTrader: (4)

Yeah, I was afraid of that . . . (if its totalled). I leased the vehicle while I was in grad school, then just recently converted it to a buy situation. All in all, I owe about $28K on a vehicle that "private party retail" is $24K. Yeah, yeah, to add insult to injury, I earned a finance MBA, but in my defense, I learn from mistakes

I'm working on an excel spreadsheet to illustrate the adjusted modification values . . . we'll see what happens.

G

Faluzure

Good luck man. I'll be on standby here to await the results. Regardless of if it is totalled or just badly damaged, you should get enough money for the repairs.

One thing I'm wondering about... It was the guy's car that hit your car... but his girlfriend was driving. So in affect, shouldn't you be getting money from both their insurance companies? At least liability from her and full coverage from him. So, if one insurance company doesn't give you enough money for repairs or replacement, couldn't you get the rest from the other insurance company?

Of course, if it really came down to it, you could probably sue them and win. DUI is just bad bad for both of them.

350G

iTrader: (4)

I really don't know the standard procedure for filing claims, especially when it involves a DUI driver, who is not the owner of the vehicle. All that I do know is that the owner (boyfriend) has full coverage under Progressive Insurance.

On a similar note, I just did the cash value spreadsheet for the vehicle and parts that are currently on it. Replacement value, including the $24K private value of the car, is about $44K. I have another column assuming a 20% depreciation rate on the modifications only, which brings the value to $40K.

I guess I'll just have to see how tomorrow goes . . .

Zenvy

yes...women i adore. i never understood why men would have sex with other men. conversely, i understand why some women have sex with other women. women are so much better to look at, play with, etc.

my only regret in life was never being asked the ? at an interview,'what is your greatest weakness?' my answer would have been a resounding 'women!'

Faluzure

Hey Gary,

You're probably in the meeting right now, but I have been talking with my coworkers about what happened. They told me that there's no way the guy's insurance will cover the wreck because a DUI was involved. They said likely what would happen is that because the girl was drunk, your insurance company will pay for all the damages and then sue her. Either way, that girl is f***ed man.

350G

iTrader: (4)

Heh, it turns out it was a meeting with the subcontracted appraiser for my insurance company (they move quick apparently). If I have to file with mine, I'm sure to get some new Volks and two new tires. I'll probably shell out a few bucks to get the other two tires too. Unfortunately, he wasn't allowed to disclose his findings (agreement with the insurance co), but I did, however, call up the other person's insurance co. Progressive is to get back with me within the next two hours to arrange an onsite visit.

After speaking with Progressive, it seems like the other owner hasn't even reported the incident (nor do I blame him ). I had to disclose the owner's & operator's (his girlfriend) information and the details to the accident report & citation (DUI). Someone is going to get f@cked and I hope it doesn't happen to me

G

Faluzure

OUCH! They didn't even report it? That's just bad. Progressive is going to **** in their pants when they come check out your car. By the way, were they college students? You can guarantee you're not gonna get f****ed on this one. They gotta bend over and take the ***-reaming.

350G

iTrader: (4)

Not sure if they're in college or not. Both of them were born in 80, so they're 24. I don't think the Progressive agent was very happy to see that a claim hasn't been made and that the owner's car is still parked on my street (undriveable) . . . knowing my luck, this sorry bast@rd didn't pay his premium this month . . .

G

Destiny350Z

So is she totalled?

350G

iTrader: (4)

I highly doubt it since the repairs won't exceed the cash value . . . On a similar note, the adjuster from Progressive is dragging his feet. He "might" be able to work on the case late today or tomorrow. Might? WTF, I'm not here at their convenience. Their jack@ss customer plowed my Z.

G

Destiny350Z

You just keep on calling him every five minutes and he will get right on it... or cuss you out!LOL Either way at lest he will be doing something

350G

iTrader: (4)

I just received notice that my insurance company decided to pick up the ball and run with it. They authorized the parts order to the body shop already. All I have to do is pay the deductible when finished and they will reimburse me once Progressive pays them.

G

Destiny350Z

I'm glad to hear that!!!

Faluzure

Nice. I hope everything goes well.

350G

iTrader: (4)

Hmmm . . . this is interesting. I talked to my insurance adjuster and she said that they will be cutting a check tomorrow . . . to ME. Not sure if that's good or bad. If something else needs to be done, will they cut another check?

G