Hello,

I am a former member of honda-tech, 'TypeRLove' was my name. I haven't been online much for a few years, but I have been reading threads on honda-tech for the 5 years I have had my R.

Basically, my car was stolen 7 weeks ago from my apartment complex in New Jersey. It's pretty horrible, but I can deal with it. I had a Viper alarm that didnt sound when it was stolen. It was found in Newark, NJ on a street corner, stripped bare ***.

Now I am dealing with State Farm insurance on the claim who has offered me $13,595 as a settlement. Here are the details on my R:

2001 NBP
BONE STOCK NO MODS
70,000 miles
mechanically perfect
body/interior was a 9/10

I babied my R mostly, but did enjoy spirited driving as well. All services were done in advance (2k oil changes, 5k services at Acura)

I know the car is worth more than I am being offered. I have taken some steps to getting a fair offer for the car:

1.) read all stolen/insurance threads posted in archives through SEARCHing
2.) printed out about 15-20 Type-R for sale ads from autotrader which display much higher value than the offer that has been presented to me, and faxed over
3.) declined the offer and am currently having state farm have an appraisal done to recieve a new, increased, offer.

Future steps:
1.) getting my own appraisal done after the 2nd offer
2.) going to the state for an appeal if necessary

As many of you know, Type-R's are not easy to find in general, let alone bone stock black 01. IMO the car is worth ~18k-18.5k. Some of you will agree, some will disagree- I have been offered close to that number by freinds/aquaintances in the recent past.

My Question is, is there anything else I can do to help get a legitimate payout for this car? I have already printed out all the helpful information I have found in SEARCH, and I can present some info to State Farm from there.

Any help is appreciated

If I left anything unclear I apologize, I haven't posted in a thread in 3+ years.

Thanks,

Gary

 

frankly, 13.5k isnt THAT far off on an 01 ITR


Maybe you could get 14.5k, but if they are letting you keep the shell, 1.35k seems about right.


How much are you trying to get? Lots of ITR's in auto trader are listed 2-4k more than what the seller will actually take for the vehicle.

 

Thanks for the response.

I am definetly not keeping the shell. I am trying to land at about 17k-17.5k +tax. With R's, the value is not easy to determine. I never would have sold the car, to me the car was priceless.

As far as people looking to sell an R, if your TRYING to get rid of the car, then your willing to take less than what the cars worth in order to fill your pocket and move forward. This isn't quite the case...

Basically, I want to maximize my settlement. Whatever the $ amount I recieve in the end may be, I would like it to be the most possible.

Personally, I know for sure I could have sold my car for at least 15k cash today, right now, if I still had it. I have a freind who owns a speed shop in NJ and he has offered me 15 many times.

Keep in mind that the car never was modified, raced, mis-used. Most R's are modified heavily, raced, somehow broken at one time or another, etc.

I'm getting a headache and I hate posting about my problems here, but I just don't know where else to get information.

Thanks again for any assistance.

 

Ask for $15K, all they can do is say no. $13.5 + a shell isn't too bad. you can sell that for around $2K+ depending on what it still has on it

 

Sorry to hear that your car got stolen.

You might try showing them this link, where Kelley Blue Book classifies the R as a "New Classic Car" and a "collector car of the future"

http://cm.syndication.kbb.com/...ticle

 

Not only does KBB list it as a "New Classic Car" and a "collector car of the future" but they also value your car at over $15,000... you should try to get at least KBB value. Also, if you have had any maintenance work done on the car recently, show them those receipts. I heard they may at times compensate you for that, including tire replacements and such.

I am actually waiting on insurance to give me a quote on my 01 which only had 59,000. Seeing that they have offered you so little, I'm worried that I may be in the same boat. Hope both of us come out on top on this one.

Good luck...

 

Thanks alot fellas.

Where can I find Kelley's value at 15,000 for my car? On the website it doesn't list the R.

 

man i hope you get what you want sorry about the car

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by GhostR0423 &raquo;</TD></TR><TR><TD CLASS="quote">Thanks alot fellas.

Where can I find Kelley's value at 15,000 for my car? On the website it doesn't list the R.

</TD></TR></TABLE>
You can find it on KBB. You just have to enter in a zipcode from a major city if your zipcode doesn't pull one back for you. Most insurance companies will use NADA values.

 

definitely bring up ANY legitimate (recent) receipts for work done and parts installed.

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by GhostR0423 &raquo;</TD></TR><TR><TD CLASS="quote">Thanks for the response.

I am definetly not keeping the shell. I am trying to land at about 17k-17.5k +tax. With R's, the value is not easy to determine. I never would have sold the car, to me the car was priceless.

As far as people looking to sell an R, if your TRYING to get rid of the car, then your willing to take less than what the cars worth in order to fill your pocket and move forward. This isn't quite the case...

Basically, I want to maximize my settlement. Whatever the $ amount I recieve in the end may be, I would like it to be the most possible.

Personally, I know for sure I could have sold my car for at least 15k cash today, right now, if I still had it. I have a freind who owns a speed shop in NJ and he has offered me 15 many times.

Keep in mind that the car never was modified, raced, mis-used. Most R's are modified heavily, raced, somehow broken at one time or another, etc.

I'm getting a headache and I hate posting about my problems here, but I just don't know where else to get information.

Thanks again for any assistance.
</TD></TR></TABLE>

Of course everyone would want to max there settlement. 13.5K + shell is a pretty fair offer. If you were to take them to court, you wouldn't get far.

To the insurance company, you could get more money if you had mods, because you would have receipts for those mods. Doesn't matter how much it was raced either, etc.


Bottom line, try to argue more with KBB value, etc. But to the insurance company, telling them that it is one-of-a-kind is sort of pointless. Every car is one-of-a-kind. Try to find a mint condition 92-95 Civic SI, harder than finding a 00-01 ITR.

You have two courses of action-

1) Sue the insurance company for not giving you fair value (as described, presumably, in your insurance policy)

2) Argue with them more


Either way, you aren't getting screwed... but good luck getting 17.5K + a shell. That's almost asking for MSRP on a 7 year old car.

 

I really don't know where everyone is getting this $ + shell idea. I don't want to re-read the thread but from what I recall, he never mentioned acquiring the shell along with his cash settlement. Also, insurance usually doesn't cover aftermarket parts and if anything, they'll only cover things that were done within the past year or so.

On a side note, the KBB quote depends on your location. For example, if you had your car stolen in Southern California, you'd probably end up getting an extra grand or so... KBB lists my 01 with 59,000 at the zip code 92324 as ~$16,500 but at different zip codes a whole grand less.

 

At this point all I can do is wait for them to finish the appraisal they are working on and get back to me with a new offer. I will post the new offer at that time and maybe new hope will be found.

Otherwise, I will be pretty dissapointed if I am payed 13.5 for a car I could have sold for 15 the day before stolen. Lame.

On a side note, the agent on the phone verbally admitted to me that he knows the car is 'worth' more than the offer, but they have to go by "state regulations." I have seen people battle insurance companies about stolen R's and end up getting payed back way more than the original offer. I just need to find out the secret.

Thanks for all of your help everyone.

 

Try to find ads for cars of similar mileage/mods in your area. Bring that to them.

Don't accept the first offer, period.

Lastly, I remember someone having an appraiser (paid out of pocket of course) do an appraisal of value, this is another option (and the one I remember was an SCCA memeber and knew of the car)

 

I had mine stolen a few years back as well and my insurrance was State Farm. THey tried to lowball me so I set up a meeting with the adjuster and we sat down and discussed it in person with me showing how much they were going for on Autotrader and such. THey ended up even paying for some of the aftermarket parts and I got $19,500 in 2003 for my 98 itr with 80k miles. Funny thing was they gave me $100 for my Comptech icebox which they classified as a refrigerator.

 

Hey guys,

I recieved a second offer on the stolen R after insurance had an appraisal done:

$14,650

Still not right I M O.

It is now my duty to have a certified appraisal done for the car. Does anyone know a certified appraiser who is familiar with the Type R and understands its scarcity and value and how to explain that to insurance companies? Maybe somebody who has already gone through this could chime in?

I hope I am not stuck here at this number, I really feel that the car is worth more.

I appreciate any help guys, thanks in advance.

 

I left out one detail - Looking for appraiser in the state of New Jersey.

Thanks.

 

I sold my 01 Type R with 32,000 miles on it for $18,500.00...last September.

Just an FYI...mine was MINT!

Tom

 

Just incase anyone missed the question I asked...Anybody know any certified appraisers in NJ who know about the R?

I am starting to lose hope here, so any help is appreciated.

Thanks.

 

Stay with it, you are on the right track. I'm not much help with your most recent question, I'm from TN and do not know an appraiser. You may want to google and call before hand. Speak with the appraiser and get a feel for him. If he is aware of what are caRs really are then you can pull the trigger.

 

Is this your car?

 

I requested a free quote from Appraisal Group of Amercia. They claim that on avg they get $2000 more for 95% of their clients. State Farm offered me $13,9XX.XX for my 01 Bone Stock ITR with 59,000 miles and I'm am extremely upset as well.

If anyone knows a good appraiser please let us know. Although I'm located in California and GhostR0423 is in New Jersey, I'm sure there are some qualified nationwide appraisal groups.

GhostR0423, I'll let you know how this Appraisal Group of America thing goes.

 

sorry to hear

 

eun_tek, thanks for the info. I would appreciate it if you did let me know how it goes with this appraisal group...

the shell in the picture could be mine, i have no idea really. i never went to see the car when it was found, my father did.

please excuse the grammer im at work and in a rush.

thanks all.

 

how come u didnt go look at it or have your father take pics of it.