spankaveli

ok, heres the background. i bought my 94 civic for 5000 with a salvage title. i don't know what it was worth then, but retail now is 6175. ok, i totalled my car and this is what the insurance company is telling me. they're saying since i bought the car with a salvage title i am only entitled to wholesale value and not retail value, like normal. why does it matter to them? when they put it up for auction, its salvage anyway, so they're going to pay the same amount. also, i don't believe i'm paying premium for a lower value car, but they're going to pay me for a lower value car? also, they say they have to deduct 1400 dollars for high mileage (150,000 miles) my friend, who's in the honda/acura rebuild business says that my car, average 18k miles/year, is only up 6k/year from the average. that means, per him, they should only deduct 600 dollars from the value, NOT 1400. he, along with my lawyer, and about 4 other people have told me its total BS for them to give me wholesale when, not only am i paying full value premium, but i'm actually entitled to retail. also, the adjuster mentioned to me that the guy that sets the buyback price (which is supposed to be 12%) said he wanted to charge me more because he knows i have a motorswap and he wants the car for himself. needless to say, i'm buying it back. is what they're doing right? or are they ****ing me over? please help

NADA value on my car is 6175. Minus deductible is 5675. Minus 12% buyback is 4934. Minus 600 for high mileage is 4334. Plus 500 for an upgraded engine (per the claims adjuster) is 4834. Thats 2000 more than what he told me he'd give me, which was 28xx

NADA value on a 1994 Honda Civic EX

DOHCtorTHRUST

how bad is your car? if its not that bad just keep it and take the money for the damage... then rip your motor out and buy another coupe (if your perfer) and drop it in.... this time make sure you buy a *clean title* so you dont get screwed over. i'm not trying flame you on the price you paid for the car but it sure is kinda high considering that its salvage.....thats my opinion.....good luck


[Modified by DOHCtorTHRUST, 5:29 PM 5/31/2002]

5 watt

First of all the insurance company gives you money based on what you car is worth before that accident. So your car is worth less because it was a salvage.

Second you didn’t get extra coverage for a car with a swap, so you don’t get covered for it.

Third you car is only worth about $4,400. Try Kelley Blue Book http://www.kbb.com
They factor more stuff in their price

Try for more if you want, but don’t expect much.

spankaveli

heres the deal. my plans are to buy the car back from the insurance company, swap a stock drivetrain in, fix my car, and sell my car then sell the motor, and use that money plus the money from the insurance company to buy a 240sx and swap an sr20det in. i understand what you're saying about salvage vehicles being less than clean titled, but if thats the case, shouldn't i pay 25% less premium? also, theres no way 150k miles can deduct 1400 from the value of the car. its a freaking honda. i had a chevy w/ 120k, and when that got totalled they only deducted about 500 dollars from the value. grr........i would take the money if they offered me 3000 or something, cuz i just want enough to buy the car and pay off my civic's loan