Mom Hits a Tree... Think This is Bad, You Should See the Tree

[SnoC653]

I'm curious what you think a 1995 Camery is actually worth?

Every dealer I know will tell you that KBB is a wonderful tool. It is also rarely a true indicator of the actual value of a vehicle for any specific market. So it is a given that Geico tried to get over on this lady. Why would they offer $4200 if the vehicle was only worth $1700. The market value of a fuel efficient, well maintained, very low mileage, rust free, highly sought after 1995 Camry would be what ever the market would bear. $4,000 to $5,000 would not be unreasonable. The closer you are to a large city the higher the value of said car. They are great commuters and get about 30mpg highway all day long. That car could easily go another 100,000 miles without major problems.

Yes their reply once caught was probably close to the actual FAIR market value of the car. But as pointed out, that valuation of the car would not have resulted in the car being totaled. So other than the initial scam they were perpetrating, what are they trying to hide. Why the push to get a quick decision and sweep it under the rug? After all, you apparently think they are offering $2500 more than the car is worth.

 

[rivermobster]

Every dealer I know will tell you that KBB is a wonderful tool. It is also rarely a true indicator of the actual value of a vehicle for any specific market. So it is a given that Geico tried to get over on this lady. Why would they offer $4200 if the vehicle was only worth $1700. The market value of a fuel efficient, well maintained, very low mileage, rust free, highly sought after 1995 Camry would be what ever the market would bear. $4,000 to $5,000 would not be unreasonable. The closer you are to a large city the higher the value of said car. They are great commuters and get about 30mpg highway all day long. That car could easily go another 100,000 miles without major problems.

Yes their reply once caught was probably close to the actual FAIR market value of the car. But as pointed out, that valuation of the car would not have resulted in the car being totaled. So other than the initial scam they were perpetrating, what are they trying to hide. Why the push to get a quick decision and sweep it under the rug? After all, you apparently think they are offering $2500 more than the car is worth.

They clearly are! That's why everyone is saying...

Take the money and run!

Except you of course.

 

[Flying_Lavey]

They clearly are! That's why everyone is saying...

Take the money and run!

Except you of course.

Don't take the money.... fight it out in court and hope for a sympathetic judge, get awarded like $20k, and walk away with $14k..... at least a year later.

Yeah, TOTALLY the route I would take....

 

[rivermobster]

Don't take the money.... fight it out in court and hope for a sympathetic judge, get awarded like $20k, and walk away with $14k..... at least a year later.

Yeah, TOTALLY the route I would take....

I'm gonna guess, going by his nick, he lives somewhere where it's -10 degrees, and has Nothing better to do?

 

[SnoC653]

I'm gonna guess, going by his nick, he lives somewhere where it's -10 degrees, and has Nothing better to do?

Again you guess wrong. My nick has nothing to do with Snow. It has to do with how some people spell German names. But, as for my opinion on what the OP should do, I have my opinion and shared it. The OP is obviously intelligent enough to make his own decisions. He obviously cares about his mother and wants to take care of her. If he goes the legal route that is fine, if he doesn't, I won't loose any sleep over it. I also pointed out that their offer was reasonable. Take the money, buy the car back, sell the car and be even further ahead. Many of us would do anything to take care of our moms. And some of us would gladly go the full legal route to protect other people's mothers as well as our own. The problem with fighting a company such as Geico through the legal system is you have to have standing to take action on what has been done and probably what is still being done to people.

BTW, not everything is based on why you would or wouldn't do or post things. Most major companies have search engines that look for references to themselves. Maybe, change can be accomplished without legal action, as pointing out what is being done puts them on notice.

 

[HubbaHubbaLife]

Sorry I missed the last couple of days. To sum up what Geico is doing is they don't want to insure your mom, probably due to her age. They try to low ball her on the car's value, and then do the bait and switch and try to rush you into a quick bad decision. What they did is insurance fraud. Keep the first check and their letter that came with it. Have your mom get a good lawyer and sue them. It could turn into a class action very quickly as you can bet this is a standard practice based on how fast they switched gears.

What I would do is call the body shop. Have the car repaired and then sell it if you so desire after it is repaired. You might have to pay for the repairs out of pocket if you wind up suing Geico. But, this has shown Geico to be a discriminating crooked company that discriminants against the elderly, as well as a company that lies to it's customers.

Hmmmmm.... I get your points.... just not that ambitious or motivated presently. Gonna go for their final cash offer and be done.

 

[HubbaHubbaLife]

I'm curious what you think a 1995 Camery is actually worth?

View attachment 1323867

Yup... that was my first search too.... then I discovered all the comps on that car asking prices of $4500-6K.... granted "asking" is not getting but the market value of these Camrys for a orig owner/ low mileage appears strong presently. hers has around 70K miles whereas all the other similar ones ar in the 120-250K mile ranges.

 

[Kachina26]

Yup... that was my first search too.... then I discovered all the comps on that car asking prices of $4500-6K.... granted "asking" is not getting but the market value of these Camrys for a orig owner/ low mileage appears strong presently. hers has around 70K miles whereas all the other similar ones ar in the 120-250K mile ranges.

I’m guessing most of the ones you’re doing comps on don’t have salvage titles. So there’s that.

 

[HubbaHubbaLife]

Don't take the money.... fight it out in court and hope for a sympathetic judge, get awarded like $20k, and walk away with $14k..... at least a year later.

Yeah, TOTALLY the route I would take....

Well I couldn't argue against that reasoning... its not the way I'll handle this situation but I will add that I have taken plenty of folks to court when I feel its justified and warranted. Just need a bit more financial motivation at present .... fair point regardless.

 

[HubbaHubbaLife]

Update bump:
I decided to accept Geicos final offer settlement of $4500. I spent all the time I wanted on this issue and became tired of the game. Moms pleased and thats what matters.

Now I'm curious from you experts as to what happens to the vehicle.?.... Its siting at a body shop and I'm esigning title over to Geico.

Opinions?

 

[ChumpChange]

They’re gonna have the salvage yard come pick it up and then it’s out of the insurance company’s hands. The yard will either sell it for individual parts or in whole. Depends on what they see the most profit in.

 

[DILLIGAF]

OK....Tried to follow this but it got to be too much. If this was on the West Coast I would ask you to have it repaired and buy it for my grandson who will pay me back.

Whats the latest in a nutshell?

edit....I see this thing is settled now.

 

[Shlbyntro]

Update bump:
I decided to accept Geicos final offer settlement of $4500. I spent all the time I wanted on this issue and became tired of the game. Moms pleased and thats what matters.

Now I'm curious from you experts as to what happens to the vehicle.?.... Its siting at a body shop and I'm esigning title over to Geico.

Opinions?

it's gonna go to auction. at its price point and condition, it will most likely get purchased by a wrecking yard who will strip the engine and transmission and then it will be crushed.

If it's super lucky, a shady car dealer will buy it and fix it and then sell it for $2k down and 36 monthly payments of $350

 

[HubbaHubbaLife]

it's gonna go to auction. at its price point and condition, it will most likely get purchased by a wrecking yard who will strip the engine and transmission and then it will be crushed.

If it's super lucky, a shady car dealer will buy it and fix it and then sell it for $2k down and 36 monthly payments of $350

Yeah kinda guessed that was the deal. I've sent bodyshop contact an email asking what they or Geico will do with it just out of curiosity. See if they respond.

 

[Kachina26]

If it's super lucky, a shady car dealer will buy it and fix it and then sell it for $2k down and 36 monthly payments of $350

Several times over.

 

[HubbaHubbaLife]

Several times over.

I hear those lil bitchez run for up o 300K miles... hers is around 70K

 

[Kachina26]

I hear those lil bitchez run for up o 300K miles... hers is around 70K

I was referring to the 'buy here, pay here' "dealers" that rope poor folks with no credit into putting money down, signing up for payments that are way out of their budget. Then, when they get behind, they repo the car and do it all over again with a new sucker.

 

[SnoC653]

Geico will most likely offer the vehicle at one of the auction sites and not sell it directly to a salvage company. That is how I bought my 97. Needed the motor and transmission but when I got it, it was such a good car that I fixed it. Bought a different engine/trans combo for the original project. Most likely the car will be sold to someone that will title it in a state that doesn't require salvage titles. Since the damage isn't even half the value of the vehicles, a lot of states wouldn't make the original owner put a salvage title on it if it was repaired and might not require a company to. Geico could force the salvage title in the original state if they wanted to title it. Car Fax should still show the car with a salvage history.

 

[LuauLounge]

Insurance companies are in the business of selling policies, not paying claims. The states require you to have it, so it’s a closed game. Occasionally they get hit with a multimillion dollar claim, limited only by the policy limits or bad faith.

 

[dspracing]

Do you have an option to buy the car back still?

 

[HubbaHubbaLife]

For those who want to be educated about how this part of the process works: I asked body shop where car is located to explain what happens to the auto:

Good morning
Thank you for the update. Once a car is deemed a total loss and insurance takes possession, they send a tow truck to pick it up and take it to a salvage yard. Once it goes to the salvage yard they will send it to auction in the condition it is.

I do want to thank you and your mom for keeping us in mind for the repairs. I hope you guys don't need us anytime soon but we are always here for you.

Hope you have a great weekend

Thank you

 

[HubbaHubbaLife]

Do you have an option to buy the car back still?

See my last response from body shop.

 

[HubbaHubbaLife]

I was referring to the 'buy here, pay here' "dealers" that rope poor folks with no credit into putting money down, signing up for payments that are way out of their budget. Then, when they get behind, they repo the car and do it all over again with a new sucker.

I know two brothers who inherited their pops used dealer lot in Pomona. They do just that and make a good living. Nice hustle.... sell these shitty lil cars to no credit types and finance em knowing most will need to be taken back in iddle of the night. So they get cars back, fix em up and game starts over ha.

 

[wrighton]

See my last response from body shop.

I can tell you that , my daughter’s 2011 Camry LE was totaled after being rear ended on the freeway. Just hard enough that it tweaked the quarter panel and couldn’t open the rear door. 96k and maintenance records from day 1. Insurance paid out over 12k. I paid 6500.00 4 years ago when it had 65k.

 

[Kachina26]

I know two brothers who inherited their pops used dealer lot in Pomona. They do just that and make a good living. Nice hustle.... sell these shitty lil cars to no credit types and finance em knowing most will need to be taken back in iddle of the night. So they get cars back, fix em up and game starts over ha.

Couldn’t do it, I’d never be able to look myself in the mirror.

 

[HubbaHubbaLife]

I can tell you that , my daughter’s 2011 Camry LE was totaled after being rear ended on the freeway. Just hard enough that it tweaked the quarter panel and couldn’t open the rear door. 96k and maintenance records from day 1. Insurance paid out over 12k. I paid 6500.00 4 years ago when it had 65k.

Saweet. Winning.

 

[HubbaHubbaLife]

Couldn’t do it, I’d never be able to look myself in the mirror.

Yup.... those two clowns are in a different mirror than you most likely are.

 

[wrighton]

Saweet. Winning.

Well yes except finding a similar maintained reliable vehicle for 12k and something that did not have a salvage title

 

[HubbaHubbaLife]

Well yes except finding a similar maintained reliable vehicle for 12k and something that did not have a salvage title

Well there is that ha

 

[n2otoofast4u]

Update bump:
I decided to accept Geicos final offer settlement of $4500. I spent all the time I wanted on this issue and became tired of the game. Moms pleased and thats what matters.

Now I'm curious from you experts as to what happens to the vehicle.?.... Its siting at a body shop and I'm esigning title over to Geico.

Opinions?

The car will end up at CoPart. If someone is interested, they can plug the VIN in and it will pull it up.

 

[gottaminute?]

OK....Tried to follow this but it got to be too much. If this was on the West Coast I would ask you to have it repaired and buy it for my grandson who will pay me back.

Whats the latest in a nutshell?

edit....I see this thing is settled now.

2003 Honda Accord - auto parts - by owner - vehicle automotive sale - craigslist

Crumpled front end. 98000 miles on 2.4 L engine. Rest of car perfect. New tires, brakes. Project car.

tucson.craigslist.org

just saw this and it
doesnt look like a hard hit if a fixer is an option.

 

[DILLIGAF]

2003 Honda Accord - auto parts - by owner - vehicle automotive sale - craigslist

Crumpled front end. 98000 miles on 2.4 L engine. Rest of car perfect. New tires, brakes. Project car.

tucson.craigslist.org

just saw this and it
doesnt look like a hard hit if a fixer is an option.

Thanks. Will discuss it with him