Ok so I drive 70 miles a day round trip. Mostly country state route. I've had a rusty cx that has gotten me 40-43 mpg I don't hypermile I just drive sensibly. So just like 5 days ago what do I get. Yes a rust free 92 vx with ac. Pretty clean car true milage unknown. It's got a junkyard motor in it but it is a d15z1. Everything is as it should be except the crappy 17 in wheels on it . Oh well price was right. So I got hit in a parking lot. Now what they are going to try to total this thing out how d I prove it's worth more than bs blue book #? Find me a rust free one for 2300$ at a dealer. Yeah right. Help might part might try to buy back I have done that before. But then I have a rebuilt salvage title.
If the damage isn't really bad (no bent unibody frame/alignment issues), I'd likely buy it back if I was in this situation. You would likely save lots of gas money driving it into the ground over the next 15-20 years (in which case the salvage title won't matter since you wouldn't ever be selling it).
If you buy it back, you should be able to bargain with them more than if you were asking for a big check. But keep in mind that scrap price is likely about $200 for this car, so I expect that you would have to pay at least $300 to buy it back.
In most states, you can retain the vehicle, and the salvage value would be deducted from your settlement amount. The salvage value may be anywhere from 10% - 30% of the actual cash value, depending on your market area.
Request extra $$ for the wheels. Even if they are crappy, a typical insurance adjuster will say they may add $50 to $100 since they are much larger than the originals.
Ask the insurance company if they can do a market valuation. They will need to find comparable models (VX with AC of the same year or newer) in the same condition or better for the same price or lower. They should provide your with the results. If they cannot find a similar car in similar condition for the amount of their offer, they should raise their offer. It is a rare car, but not THAT rare. You will have to make sure the comparable cars they use are VXs.
(I work for the total loss department of a national insurance company.)
My 01 Volvo was totaled the side air bag went off and the rear door was hurt. I bought it back I couldnt argue the Buy back price. But it worked out ok. It appears as it just the fender lights little hood and small door rub all on passenger side. I would rather not the hassle of the buy back and state inspection. It's just a hassle I don't have time for. Thank you for the real insurance info. Demanding true market vale. Not bogus blue book value. Thanks.
A similar thing happened to a good friend of mine who had found a good little VX with a couple of minor creases in the body, which lowered the price of admission to ~$2400. Won the eBay auction, traveled to a DC suburb and drove it back to VT, all was well, life was good, etc.
Less than 6 months later we had the Valentine's Day storm here in VT. My buddy lives in Bolton Valley, and they got so much snow that the VX was completely enveloped in a snow drift. The normal snow plow guy was unavailable, so a new guy plows out the parking lot, and in the process plows the hidden VX across the parking lot. (sideways) Instant Art Car!
Of course the car was totalled, but still drove perfectly. He bought the car back, we replaced the RR glass, sprayed black primer over all the bare metal wrinkles, and he drove it for 4 more years...until he hit a stove at speed that was mysteriously sitting in the middle of the southbound lane of Rt. 2.
The cool thing was that after being totaled & bought back, he still ended up with a couple hundred dollars *more* than what he paid for the lightly wrinkled version in the original eBay auction. (!)
Probably the only car I am personally aware of that paid the owner to drive it. As for the Salvage Title, who cares if you know that you are going to be the last owner of said vehicle? Who in their right mind would sell a VX that still has any useful life left in it?
Driving as frugally as possible is great sport...rolling around in a Teal green Civic with primer black wrinkle body art is a guaranteed attention getter...highly recommended. :-)
Traversing the lean-burn learning curve via hands-on support of (5) '92-'95 Civic VXs & (4) '00-'01 Insights for family & friends. Who'da thunk that max MPG could be this fun?
Well they said $891 in damages not totaled soo I guess that's good. However I plan on having a second or third estimate just to make sure I get what I am rightly entitled to. Not bad seeing as it's drivable and I only paid 900ish for the car. Paint is faded red air doesnt work as of now. No big deal easy fix but is does need an 02 sensor.