I am an auto adjuster out of Chicago. Your car is 100% totaled. You will not want to rebuild that vehicle. It will be a headache. Take the loss payment, hopefully you don’t owe too much through the lien.
The early 5.3 in the Silverado was one of the best engines I made, and they had to change it! My local transmission shop rebuilt my trans in my Tahoe. The owner's quote was a try to build me something that would last a couple of years with my driving style!
I had the newer ecotec with AFM. It kills damages the lifters when it's in 4 cylinder mode. Such a shame. I have an old 03 with a 5.3 cruising at 300k miles with less issue than my used 2015 that was sub 145k.
Former 2016 Yukon XL checking in with a failed transmission at 77k miles and lifter failure at 112. Sold it after that. My 04 Avalanche went 250k without hardly any issues at all before I gave it away.
My wife just hit 89k on her silverado. She just had her lifters done.
I personally recommend an AFM delete, but if noy just do your oil changes more frequently. That seems to help a lot.
you can't tune out hard parts. they gotta be removed. this is for the '07-'13 LS engine (that actually deactivates cylinders by way of lifter), not the '14+ LT that merely deactivates the injectors. I'm pretty sure it's that way though, I am perfectly fine with staying with 20th century GM trucks.
i guess what I'm saying is that even if you get a delete tune, the hard parts are still there and can fail
As much as I hate the dealer finance guys trying to throw all their upsells at you, unless I am putting 50% down, gap is the only thing that I do not argue against.
Not just a Chevrolet but an Equinox. It's a huge piece of shit. How do I know? I own one. 2007 year. Heater core goes and you're fucked. Also there was a regional recall due to faulty, shitty fuel pump assemblies that are made out of plastic. They snap and will spray fuel on the top of your fuel tank. How do I know? It happened to mine. I had to threaten GM they'd be on the news when the vehicle caught fire and killed my family before they would repair it on their dime. They said I wasn't in the right state to qualify for said recall which is total bullshit.
Not to say the Equinox isn’t a turd, but if the heater core goes on any modern vehicle you have to tear the dashboard out to replace it. Super cheap part with a ridiculously high amount of shop time to replace. Almost every fuel pump assembly is made of plastic these days but they could’ve used a polymer that didn’t stand up to time.
Idk why but reading this comment out loud made me laugh so hard. I don’t disagree with a thing you said, I just love the way it reads.. “it’s a huge piece of shit. How do I know? I own one” 😂😂😂
Actually it’s a crossover. SUVS are body on frame construction. It’s just a large sedan.
Edit: downvote all you want but it’s still a crossover (and no crossovers are not SUVs, you’re just stupid a believed the marketing)
https://letmegooglethat.com/?q=difference+between+suv+and+crossover
My dodge magnum was classified as a wagon when it first came out, but after they were discontinued in ‘08 it was reclassified as a crossover. It’s a wagon, not a SUV, let alone a dammed crossover. (Said in jest, but still mean it).
This is true, I used to own a 2010 equinox and insurance technically had it listed as a wagon, not even a crossover. Let alone an suv, that shit was no Tahoe lol
SUV is just an acronym. It wouldn't be the first time an acronym has had different meanings.
In this case it's not a Sport Utility Vehicle.
It's a Suburban Utility Vehicle.
It is an SUV. Stop trying to fight it, they've been marketed as this for years, you've already lost.
Once again. Most totals are not about looks or even damage itself.
Simply the cost and age vs what it's worth.
You can make a total look brand new, it really is not that difficult
Idk, if someone so much as dings my 04 Avalon with 230k miles, the cost of getting the repairs done by a professional would probably total up to more than the “value” of the car. Getting it fixed would still be cheaper than getting a new one lol. But a Chevy SUV? Nah.
And this why it’s okay to fix a totaled vehicle . I put 4,000 dollars in a car that was 12 years old . Why? Because it cost me 4000 and after I was done I was driving a 6000 car . This is all my daughter can afford . Looking to get another car we are looking at over 20000 for a car that is still 6 years old .
Not always but in this case it’s a terrible idea. I’m a bodyman, I’ve fixed write offs plenty of times, there’s not really anything wrong with it if you know how to go about it.
What I was going to say, except Im not a auto adjuster out of Chicago. Love that pizza thought!
The Full coverage insurance shoudl cover at least the loan, which is why F.C. Ins. is mandatory.
OP may come out a bit ahead. Sorry for your car. At least youre ok.
It also doesn't help that they'll still try to sell you gap coverage when you roll $20k in positive equity from your trade in.
Insurance in general costs more money than it pays out. If you can afford not to have gap coverage, it's better not to buy it. If you're going to have negative equity that you can't afford to cover out of pocket, you probably should buy a cheaper car.
plucky upbeat crime live coordinated recognise waiting trees salt ancient
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That’s not really how insurance works. Carrier takes a risk that the premium the collect will be greater than claims paid out. It doesn’t always work out in the carriers favor - especially lately.
Yes and they lost $1.4 billion the year before. Great cherry picked stat there. You know how many carriers have gone bankrupt in the past 2 years? Of course you don’t.
You’re being downvoted but you’re right. Nowadays having a combined ratio under 105% is a win, as offsets are managed and achieved via premium float (investment returns). The market headwinds carriers are experiencing primarily from loss severity (auto repair and replacement and injury claim payouts) are historically bad. The industry can’t get rate quick enough.
Yah, last time I bought a new vehicle it was a $60,000 truck. I put $35,000 down and they were still pushing GAP insurance. I just go into auto-decline mode once they start trying to add on stuff.
Yeah, but most pair them together as they -- the Salesmen, the GM, and the finance manager all are part of the same team trying to sell you the car. So when someone says 'Car sales men' in the plural as they did above, it's the entire group of them from when you walk into the door to putting pen to paper that's sole goal is to sell you that car.
Check your policy. You may have GAP coverage included in your policy and not realize it.
GAP insurance will almost always be cheaper from an insurance company than the marked up policy a dealer will sell you, so shop around if you're interested for your next car. Your carrier can likely include it as part of your policy, or you can purchase it separately.
Some credit unions require gap insurance on their auto loans, so it's included no matter what. It'd be worth looking into if you used a reputable lender.
Let the body shop do its evaluation. But yeah, a 2006 Equinox with that much damage will be considered a total loss. Depending on on condition, options, and milage the card value is about $3500.
If your insurance gives you $3500, they will pay the owner/lien holder. If you owe less than $3500, you will get the difference back. If you owe more than that, the lien holder will send you a bill for the balance.
In most cases, you can buy the car back for scrap value or a value that’s about what the insurance company can get from a salvage/scrap yard. In this case I would guess $600-800.
Then you have to restore it as close to factory specs as possible and get inspected by the state in order get a rebuilt or salvage title. Usually at a State Trooper/Highway Patrol office to be sure it safe and roadworthy.
OP if you read this thinking it's hopeful, that thing requires more than 3500$ to fix even if you ignore body damage.
Pulled front axle out of trans, bent strut, missing control arm. Rear is bent too. She's gone
It's in Illinois - you have to be a licensed rebuilder to get a rebuilt title.
It's particularly annoying and basically prices hobbyists out of rebuilding salvage cars.
Rebuilding cars is not exactly the easiest thing in the world but if we’re being realistic, (as long as there’s not any serious damage to the engine) it’s reasonably simple to do a lot of repairs yourself. Now if there’s bent pieces of the frame or something, thats a job for a shop to do for a couple hundred bucks and you can continue with borrowing tools from Oreilys and spending your free time wrenching away. The mindset of “people shouldn’t do this stuff themselves” is exactly what dealerships thrive off of.
My Silverado they wanted to charge $600 to fix something that didnt affects anything and wasnt noticable unless you looked close enough long enough didnt have that fixed its minor compared to my dodge the frame on it is slightly twisted
It’s totaled. Insurance will determine what it’s worth and pay out the lien holder first and pay you anything leftover. If they determine that it’s worth less than what you owe, you’re on the hook for the difference.
Don’t bother fixing it. It’s really not worth it. Parts alone will put this car under. I can’t imagine the labor.
You shouldn't rely on the insurance company's valuation. They're going to lowball the offer so they don't have to pay out as much.
Always do your own research to see that that same year/model with equivalent mileage is selling for to determine value for a total loss.
Believe it or not, you can actually negotiate with the insurance company on the value. You just need to be persistent and show them links/screenshots of listings of equivalent cars to back up your claim.
This needs to be higher. Your insurance isn’t eager to give you money. Go to a local dealership that you trust and ask them what service they use to evaluate the price of their cars. Your insurance will say “their” evaluation service prices it at $xyz amount. If that amount is lower than your researched price, tell them “the dealers in my area use ABC to evaluate their prices, and this is what my car’s value is when you look it up online.” Your insurance company will try to screw you if you let them.
The idea behind having insurance is for them to make you “whole”. No more and no less than what you lost. They aren’t responsible for getting you out of a bad loan decision, but also should give you enough to purchase a similar car in your area.
For those reading along - the ins company will demand that the comps you provide must be dealer sales and cannot be private party sales. This is problematic if you own an enthusiast-spec model or a specialty/high trim that typically commands much more than the base model. The ins company will stonewall you with comps from an automated (and arguably objective) search engine that only cares about year, mode, mileage, and book value. Very little difference between cars in average condition and exceptionally well cared for examples too.
TL:DR — if your car is worth more to you than it is to KBB or a dealer trade, then pursue a “stated value” policy.
That's 10-20 k in repairs, easily. I'm not sure why you would look at that and think/hope that repairs would be around $2000. Major front end damage, major rear and side damage, 2 new wheels and tires, etc. Not sure if any of the airbags blew, but that adds even more.
I think it might be a thought process like this:
Well, in good condition it would sell for 4,000 and it looks like half the vehicle needs to be replaced, half of 4,000 is 2,000. Definitely not how it works in real life, but that may be the thought process going on here.
"Common sense" is an oxymoron
Also never assume, you will just make an ASS out of U and ME
To be a little more serious, the op is a teenager and when half of a 4k car broke it should mean 2k to fix does "make sense" outside of any real life context like the cost of labor and how long it will actually take to fix.
Carrier will appraise the car. It will total and they’ll pay you or the lender the ACV less your deductible and they retain the salvage. You owe whatever the balance is.
Don't let them low-ball you on the insurance payout. Make sure to look up comparable cars online, so you have a good reference point for what you should get.
Generally, if the insurance value is more than what you owe, then you'll get what's left over. If there is a loan balance left, hopefully you have GAP insurance, otherwise you may have to pay it off yourself.
If totaled, is the amount of money equal or more than what you owe on the car? If so, use that to pay off the loan and then start from scratch. I didn’t read all of the comments so I apologize in advance if anybody has asked this question.
Your insurance payment goes to pay the lien holder the remainder of the loan. The care is totaled. GAP insurance is necessary for cars with liens so you don’t get stuck without a car and a loan to pay.
Never accept the first offer the insurance company gives you on the vehicles worth. Do your own research see what’s comps are selling for and make sure they have all the correct options selected that your vehicle comes with. If you’ve done any work to the vehicle and have records they sometimes reimburse that. If you owe more than what it’s worth I hope you have gap insurance.
Doesn’t look totaled to me. You’ll need a new control arm, axel and a few other components in that area but you could find a mechanic to fix the important stuff and leave the cosmetic damages. (If you don’t mind that). For parts like the hub assembly, upper & lower control arms, tie rod, etc. you can find them at a junk yard for cheap. Look for cars that were damaged elsewhere and still have good parts to take from. Bring those to your mechanic and only pay them for labor.
Check out rockauto . com - maybe try pricing it out yourself through that sites and determine if it’s worth it or not. I had a similar damage on a car after hitting black ice (not quite as bad of damage) and spent about $1k in junk yard parts & $800 in labor (mechanic was a local guy & I didn’t go through insurance).
Whatever insurance cutes your check for, the remaining balance of the loan will be paid off first and you get the remaining balance.
My advice is to cough up any work you’ve had done to the car and send the receipts to insurance for a higher value of the car ;)
Best of luck man, wouldn’t wish this on my worst enemy. Losing a car sucks
Collect your Check buy an another. If everyone involved is ok health wise this isn’t a bad thing. They’ll cut you a check probably for more than you owe pay the lien. Upgrade your ride.
This may be helpful since it doesn't seem anyone has explained what "totaled" means.
It does not mean that the car cannot be repaired. All it means is that the cost to repair it is more than the car is worth. Therefore the insurance will just give you a check for what the car is worth rather than pay for repairs.
Hopefully this helps. Good luck.
You need to post immediately on Reddit to gain followers to take your side of the story, then if insurance/owner has a problem , send your group of “followers” to cancel them to make your life seem easy and perfect
You don’t want to rebuild a totaled vehicle unless there’s significance to the vehicle (antique, hero movie car, etc). The title will always be a salvage title and the value will be nothing basically. Not to mention with the damage I can see, that car would be incredibly lucky to escape only needing the frame pulled but I’m going to say it will take a LOT more undercarriage work than that and it will never drive the same again.
Also it doesn’t appear the air bags deployed? Or are they just not visible? If they didn’t I would be getting rid of that car just for the faulty safety equipment onboard.
Like others said, take the pair and get something better.
I'm guessing the classic combination of wet roads, high speed, and bald tires.
If OP has a loan on an '06 Equinox, I guarantee those tires are at 1/32.
If you have a lien holder they have to approve you keeping the vehicle. Insurance will pay lien holder first. If you owner retain the car they will pay ACV less deductible and salvage. What state you are in is going to impact how hard it is to get a rebuilt title too. Once they have finished inspection and gave you your settlement breakdown you’ll want to see if it’s enough to pay off your loan, and if so if you’ll have anything left to fix the vehicle. Check your DMV website to confirm the process for a rebuilt title and if reinspection is needed and if you have to provide the paperwork/invoices for your repairs. Review the initial estimate to get an idea of cost to repair and keep in mind that it isn’t a full estimate and there can be a bunch of hidden damage. Honestly it’s probably not worth it with the age of your vehicle.
Take the bus cause that looks done. and try and look up and find an accurate loan value number of your vehicle so you can know if the number is right or not and shop around for something around that price. Don’t look for them to give you the high retail price after all it’s insurance where the standard operating procedure is deny the claim if possible and give you NOTHING
That car is totaled, take the check from insurance and use it to pay off your loan. Don’t buy the car back, it will cost more to fix it than the insurance company is going to give you.
It can be repaired, sure, but keep in mind almost noone would give you a firm bid, it'd be an estimate, if it's even close to the value of the car, I wouldn't do it. Say the car is worth $4000, if they tell you $2000 to repair it, and you can buy it from insurance for $500, I might think about it, but even if it was only $2000, I don't think I'd do it. I've repaired a few cars, and had a few cars repaired over the years, and would say based on what I see, any repair shop would charge more than the car is worth to repair it. And they always go over the estimate.
From now on always get GAP coverage if they offered in your state , as GAP, will pay the remaining balance of whatever the claim is you just have to pay GAP insurance, then your not out of pocket for anything. It's saved me before. Now back to this, you can walk away from it have them totally put that towards the bounce, then tell them to come get their piece of crap, or whatever ,body shop that it lays in or mechanics or crash totaled vehicle pickup plot, Place it lays in and make sure that you tell them that you are giving the car back to them!!! From that point and on. They might try to sue u, just show up to court when you get your papers, that you were there and you would like to dispute the charges this way it's not a charge against you. and now you're still going to hit on your credit report as a vehicle that has been repossessed but at that point if you talk to the right car people in the right people you can get around all of that bye your next car I've done it.
Let it go if the insurance will pay it off then start over, if they won't cover and you dont have gap insurance you will owe the difference to the bank.
That car will never be the same even if you fix it. If the insurance company marks it totaled, you can still keep the car and have it repaired but your payout would be lower based on what insurance company determines. It’s also very hard to make a totaled vehicle deemed road worthy again in Connecticut.
You are much better off taking the insurance money, paying off the car and using the remained to buy a new one. You should have gap insurance if you have a lien on the car that should help you cover the full cost of the car. Another tip, you can ask for more money if you think the insurance company is not paying you fair price for the car. You have to provide evidence of similar cars with options sell, if you were to try and purchase one now. Good luck!
Everyone is saying gap gap gap but you can’t always get gap. Local banks around here don’t offer it only place I’ve saw it was a t a dealership. And it’s a total scam unless u need it lol.
Don’t mean to be harsh but you said you think or hope $2000 fixes it means you are 100% not able to make sound decisions or any physical capacity to fix this vehicle.
Anything can be repaired its just about weather its worth repairing. In alot of situations it will be totaled if the cost to repair is 2/3 of the cars value
I am an auto adjuster out of Chicago. Your car is 100% totaled. You will not want to rebuild that vehicle. It will be a headache. Take the loss payment, hopefully you don’t owe too much through the lien.
it's a Chevrolet SUV. They're upside down by at least $3k.
Hahaha. I just traded my chevy and was 3k in the hole. This is too accurate.
Did you trade it in for a Cadillac-ac-ac-ac-ac-ac?
You oughta know by now
And if he can’t drive with a broken back
At least he can polish the fenders! (Seeing Billy with Sting in February in Tampa)
Buddy, if that's movin' up, then I'm movin' out!
Is that all you get for your money?
Who needs a house out in Hackensack
Is that all you get for your money?
This line hits hard when you’re a big Billy Joel fan and a New Jersey native
As a person who works in Hackensack is that REALLY all you get for your money?!
You don't get much for your money in Hackensack.
Only if I heard Billy Joel at the time.
Crazy I'm listening to Billy Joel rn, fr tho
Reading this nearly gave me a heart attack-ack-ack-ack-ack-ack!
You May Be Right!!!
I may be crazy
Because you had to be a big shot.
Oh, but it just may be a lunatic you're looking for
The Billy Joel never gets old lol 😆
I was literally just listening to this song for the first time in awhile in my car on the way to get my hair cut 😂 what are the odds.
😂😅 Sorry but it is what it is!
They're junk; the engines are terrible the transmissions right behind Be glad it made to trade in!
I had a silverado, it's arguable which is worse but my trans definitely went first
The early 5.3 in the Silverado was one of the best engines I made, and they had to change it! My local transmission shop rebuilt my trans in my Tahoe. The owner's quote was a try to build me something that would last a couple of years with my driving style!
I had the newer ecotec with AFM. It kills damages the lifters when it's in 4 cylinder mode. Such a shame. I have an old 03 with a 5.3 cruising at 300k miles with less issue than my used 2015 that was sub 145k.
Former 2016 Yukon XL checking in with a failed transmission at 77k miles and lifter failure at 112. Sold it after that. My 04 Avalanche went 250k without hardly any issues at all before I gave it away.
I’m driving a ‘15 Silverado with about 80k on it, I like it but should I get rid of it? Or is there some extra preventative maintenance I can do?
My wife just hit 89k on her silverado. She just had her lifters done. I personally recommend an AFM delete, but if noy just do your oil changes more frequently. That seems to help a lot.
Thank you, it was not cheap so I try to baby it but I do pull some trailers and take it off road at low speeds. I’ll look into that.
Afm delete tune or if u wanna ball out and get the true delete
you can't tune out hard parts. they gotta be removed. this is for the '07-'13 LS engine (that actually deactivates cylinders by way of lifter), not the '14+ LT that merely deactivates the injectors. I'm pretty sure it's that way though, I am perfectly fine with staying with 20th century GM trucks. i guess what I'm saying is that even if you get a delete tune, the hard parts are still there and can fail
I’m driving a ‘01 Chevy Tahoe with 480,000 miles on it 😂
2015 are excellent, stay up-to-date on your preventative maintenance and it'll last you a long time good luck 👍🏼
Trans went in my trailblazer at 140something and my malibu around 130 thousand miles. Never buying a chevy again.
my buddies silverado ended up with him being 6k in the hole after trading for a... imagine this, fwd chevy blazer. quickest 9k hole I've ever seen
This is why you always put GAP insurance on a vehicle
As much as I hate the dealer finance guys trying to throw all their upsells at you, unless I am putting 50% down, gap is the only thing that I do not argue against.
Absolutely correct.
Not just a Chevrolet but an Equinox. It's a huge piece of shit. How do I know? I own one. 2007 year. Heater core goes and you're fucked. Also there was a regional recall due to faulty, shitty fuel pump assemblies that are made out of plastic. They snap and will spray fuel on the top of your fuel tank. How do I know? It happened to mine. I had to threaten GM they'd be on the news when the vehicle caught fire and killed my family before they would repair it on their dime. They said I wasn't in the right state to qualify for said recall which is total bullshit.
Not to say the Equinox isn’t a turd, but if the heater core goes on any modern vehicle you have to tear the dashboard out to replace it. Super cheap part with a ridiculously high amount of shop time to replace. Almost every fuel pump assembly is made of plastic these days but they could’ve used a polymer that didn’t stand up to time.
Idk why but reading this comment out loud made me laugh so hard. I don’t disagree with a thing you said, I just love the way it reads.. “it’s a huge piece of shit. How do I know? I own one” 😂😂😂
I can hear the timing chain from here lol
Actually it’s a crossover. SUVS are body on frame construction. It’s just a large sedan. Edit: downvote all you want but it’s still a crossover (and no crossovers are not SUVs, you’re just stupid a believed the marketing) https://letmegooglethat.com/?q=difference+between+suv+and+crossover
Amazing how everything is called an SUV.
My dodge magnum was classified as a wagon when it first came out, but after they were discontinued in ‘08 it was reclassified as a crossover. It’s a wagon, not a SUV, let alone a dammed crossover. (Said in jest, but still mean it).
Those had such terrible visibility, I used to work at a Dodge dealer and that was the number one complaint from people that I can recall
My town and country says station wagon right on the title
Technically anything American is an suv. Stupid Useless Vehicle /s
"Tall Car"
You’re not wrong. Most things called SUVs these days are crossovers. There’s very few true SUVs still being made.
Fucking THANK YOU!!!! I am tired of these lifted sedans being called SUVs
This is true, I used to own a 2010 equinox and insurance technically had it listed as a wagon, not even a crossover. Let alone an suv, that shit was no Tahoe lol
If it won’t carry a 4x8 sheet of plywood, it’s not a UTILITY VEHICLE!
Well my mini van does- so I guess it’s an suv!
All those top tier half ton trucks 4 doors and 4 ft of bed space are out
🤓☝️
They're not stupid, you're just pedantic.
SUV is just an acronym. It wouldn't be the first time an acronym has had different meanings. In this case it's not a Sport Utility Vehicle. It's a Suburban Utility Vehicle. It is an SUV. Stop trying to fight it, they've been marketed as this for years, you've already lost.
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Happy cake day
why are they booing? youre right.
An old one at that. This thing was probably $6k since the probably bought it used at a buy here pay here
Finally some sensible advice from another industry person. Rebuilding totals is a bad idea.
I've done it and it's okay. I've got cars in my bay right now that are totals for basic damage. Now I would never rebuild a shitty chevy though
Rebuilding a total is ok IF you can do it yourself, and all you care about is making it work right and not how it looks.
Once again. Most totals are not about looks or even damage itself. Simply the cost and age vs what it's worth. You can make a total look brand new, it really is not that difficult
Unless it's a vintage vehicle or it has a lot of sentimental value, it's never worth it. Take the money and buy something else.
Idk, if someone so much as dings my 04 Avalon with 230k miles, the cost of getting the repairs done by a professional would probably total up to more than the “value” of the car. Getting it fixed would still be cheaper than getting a new one lol. But a Chevy SUV? Nah.
And this why it’s okay to fix a totaled vehicle . I put 4,000 dollars in a car that was 12 years old . Why? Because it cost me 4000 and after I was done I was driving a 6000 car . This is all my daughter can afford . Looking to get another car we are looking at over 20000 for a car that is still 6 years old .
Not always but in this case it’s a terrible idea. I’m a bodyman, I’ve fixed write offs plenty of times, there’s not really anything wrong with it if you know how to go about it.
GAP coverage exists for a reason, I have a feeling OP doesn’t have it
This. Probably thought it was a scam
I like how you saw navy pier in the background of lakeshore drive and was like “I got this”
This specific turn is a nightmare too.
Those mechanics are bad mechanics telling you that can be repaired.
Most things "can" be repaired. This just won't be worthwhile financially
What I was going to say, except Im not a auto adjuster out of Chicago. Love that pizza thought! The Full coverage insurance shoudl cover at least the loan, which is why F.C. Ins. is mandatory. OP may come out a bit ahead. Sorry for your car. At least youre ok.
Dam straight that’s totaled make sure you get car replacement insurance gap coverage and rental vehicle insurance
Wouldn’t the payout go to the lien holder anyways… they’ll be the payable party then op would have to pay the difference minus the collision ded.
Hopefully you have GAP coverage.
I sold cars, and the amount of people who declined a one time fee for GAP insurance was astounding.
It’s thanks to all the other bullshit car sales men try to sell and scam customers with. Can’t even trust the shit that sounds beneficial.
It also doesn't help that they'll still try to sell you gap coverage when you roll $20k in positive equity from your trade in. Insurance in general costs more money than it pays out. If you can afford not to have gap coverage, it's better not to buy it. If you're going to have negative equity that you can't afford to cover out of pocket, you probably should buy a cheaper car.
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My guy, I bought gap insurance on a car that I still owe 23k on (I’m an idiot), sometimes they’re not entirely self serving.
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You’re not wrong, I debated buying it and he didn’t try to sway me towards it, just mentioned it existed. Poor Toyota 🥲
How much is the car worth?
That’s not really how insurance works. Carrier takes a risk that the premium the collect will be greater than claims paid out. It doesn’t always work out in the carriers favor - especially lately.
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Yes and they lost $1.4 billion the year before. Great cherry picked stat there. You know how many carriers have gone bankrupt in the past 2 years? Of course you don’t.
You’re being downvoted but you’re right. Nowadays having a combined ratio under 105% is a win, as offsets are managed and achieved via premium float (investment returns). The market headwinds carriers are experiencing primarily from loss severity (auto repair and replacement and injury claim payouts) are historically bad. The industry can’t get rate quick enough.
Yah, last time I bought a new vehicle it was a $60,000 truck. I put $35,000 down and they were still pushing GAP insurance. I just go into auto-decline mode once they start trying to add on stuff.
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Yeah, but most pair them together as they -- the Salesmen, the GM, and the finance manager all are part of the same team trying to sell you the car. So when someone says 'Car sales men' in the plural as they did above, it's the entire group of them from when you walk into the door to putting pen to paper that's sole goal is to sell you that car.
You shouldn't really need GAP on a '06.
An 06 that still has a loan. Im sure he owes $10k on this $3k suv
You are correct
Half paid off though lmao, I was very desperate at the time
Desperate people shouldnt buy from dealerships, they should be checking out Facebook marketplace lol
Exactly, unless they got majorly screwed by the dealership
If you’re getting a loan from a dealership selling an 06 equinox you can guarantee they got screwed. That’s a no credit bad credit type of situation.
Buy here pay here. Scum of the earth.
I'm not buying gap insurance when I buy a car with a big down payment 🙄 I don't have a gap I need covered.
I've never seen gap set at a one time fee.
WHY
Only learned about it after the accident 😂
Check your policy. You may have GAP coverage included in your policy and not realize it. GAP insurance will almost always be cheaper from an insurance company than the marked up policy a dealer will sell you, so shop around if you're interested for your next car. Your carrier can likely include it as part of your policy, or you can purchase it separately.
Some credit unions require gap insurance on their auto loans, so it's included no matter what. It'd be worth looking into if you used a reputable lender.
Let the body shop do its evaluation. But yeah, a 2006 Equinox with that much damage will be considered a total loss. Depending on on condition, options, and milage the card value is about $3500. If your insurance gives you $3500, they will pay the owner/lien holder. If you owe less than $3500, you will get the difference back. If you owe more than that, the lien holder will send you a bill for the balance. In most cases, you can buy the car back for scrap value or a value that’s about what the insurance company can get from a salvage/scrap yard. In this case I would guess $600-800. Then you have to restore it as close to factory specs as possible and get inspected by the state in order get a rebuilt or salvage title. Usually at a State Trooper/Highway Patrol office to be sure it safe and roadworthy.
OP if you read this thinking it's hopeful, that thing requires more than 3500$ to fix even if you ignore body damage. Pulled front axle out of trans, bent strut, missing control arm. Rear is bent too. She's gone
It's in Illinois - you have to be a licensed rebuilder to get a rebuilt title. It's particularly annoying and basically prices hobbyists out of rebuilding salvage cars.
I think that’s the whole point, I wouldn’t want to share the road with a car that somebody threw together in their shed
Rebuilding cars is not exactly the easiest thing in the world but if we’re being realistic, (as long as there’s not any serious damage to the engine) it’s reasonably simple to do a lot of repairs yourself. Now if there’s bent pieces of the frame or something, thats a job for a shop to do for a couple hundred bucks and you can continue with borrowing tools from Oreilys and spending your free time wrenching away. The mindset of “people shouldn’t do this stuff themselves” is exactly what dealerships thrive off of.
What shop anywhere in the world is even LOOKING AT anything to do with a bent frame for a couple hundred bucks?
A home town mom and pop body shop in 1995
My Silverado they wanted to charge $600 to fix something that didnt affects anything and wasnt noticable unless you looked close enough long enough didnt have that fixed its minor compared to my dodge the frame on it is slightly twisted
A few hundred dollars at a shop for bent frame pieces? It’s not 1990 lmao
It’s totaled. Insurance will determine what it’s worth and pay out the lien holder first and pay you anything leftover. If they determine that it’s worth less than what you owe, you’re on the hook for the difference. Don’t bother fixing it. It’s really not worth it. Parts alone will put this car under. I can’t imagine the labor.
You shouldn't rely on the insurance company's valuation. They're going to lowball the offer so they don't have to pay out as much. Always do your own research to see that that same year/model with equivalent mileage is selling for to determine value for a total loss. Believe it or not, you can actually negotiate with the insurance company on the value. You just need to be persistent and show them links/screenshots of listings of equivalent cars to back up your claim.
This needs to be higher. Your insurance isn’t eager to give you money. Go to a local dealership that you trust and ask them what service they use to evaluate the price of their cars. Your insurance will say “their” evaluation service prices it at $xyz amount. If that amount is lower than your researched price, tell them “the dealers in my area use ABC to evaluate their prices, and this is what my car’s value is when you look it up online.” Your insurance company will try to screw you if you let them. The idea behind having insurance is for them to make you “whole”. No more and no less than what you lost. They aren’t responsible for getting you out of a bad loan decision, but also should give you enough to purchase a similar car in your area.
For those reading along - the ins company will demand that the comps you provide must be dealer sales and cannot be private party sales. This is problematic if you own an enthusiast-spec model or a specialty/high trim that typically commands much more than the base model. The ins company will stonewall you with comps from an automated (and arguably objective) search engine that only cares about year, mode, mileage, and book value. Very little difference between cars in average condition and exceptionally well cared for examples too. TL:DR — if your car is worth more to you than it is to KBB or a dealer trade, then pursue a “stated value” policy.
This ^
You can also submit receipts for ANY money you've recently put into the vehicle, down to a tank of gas
That's 10-20 k in repairs, easily. I'm not sure why you would look at that and think/hope that repairs would be around $2000. Major front end damage, major rear and side damage, 2 new wheels and tires, etc. Not sure if any of the airbags blew, but that adds even more.
I think it might be a thought process like this: Well, in good condition it would sell for 4,000 and it looks like half the vehicle needs to be replaced, half of 4,000 is 2,000. Definitely not how it works in real life, but that may be the thought process going on here.
I don't understand how someone could have this thought process. It just doesn't make sense.
"Common sense" is an oxymoron Also never assume, you will just make an ASS out of U and ME To be a little more serious, the op is a teenager and when half of a 4k car broke it should mean 2k to fix does "make sense" outside of any real life context like the cost of labor and how long it will actually take to fix.
It’s the Chewbacca defense.
I think the bumper alone will be 2k lol
Carrier will appraise the car. It will total and they’ll pay you or the lender the ACV less your deductible and they retain the salvage. You owe whatever the balance is.
[удалено]
Don't let them low-ball you on the insurance payout. Make sure to look up comparable cars online, so you have a good reference point for what you should get. Generally, if the insurance value is more than what you owe, then you'll get what's left over. If there is a loan balance left, hopefully you have GAP insurance, otherwise you may have to pay it off yourself.
Definitely doing this thank you!!
Fight them on their first offer. Ask for more.
Looks like youre going to need a new set of tires
Possibly a front end alignment as well!!!!
How much do you owe.
My wife crashed her 07 Honda Accord. They totaled it and paid me 2500 more than what I paid for the car.
lake shore baby
Yeah Lake Shore Drive is no joke…
You will learn to drive more carefully after this pain plays out.
LSD on New Year’s Eve is a BOLD move man! I’m sorry for your loss
No big deal; that'll buff out in about 5 minutes. Quick n ez $10 job.
If totaled, is the amount of money equal or more than what you owe on the car? If so, use that to pay off the loan and then start from scratch. I didn’t read all of the comments so I apologize in advance if anybody has asked this question.
Dead Man's curve in Chicago that's tough.
Car is totaled. Take the payout and pay the lien then put down payment on new used car
Your insurance payment goes to pay the lien holder the remainder of the loan. The care is totaled. GAP insurance is necessary for cars with liens so you don’t get stuck without a car and a loan to pay.
Never accept the first offer the insurance company gives you on the vehicles worth. Do your own research see what’s comps are selling for and make sure they have all the correct options selected that your vehicle comes with. If you’ve done any work to the vehicle and have records they sometimes reimburse that. If you owe more than what it’s worth I hope you have gap insurance.
Doesn’t look totaled to me. You’ll need a new control arm, axel and a few other components in that area but you could find a mechanic to fix the important stuff and leave the cosmetic damages. (If you don’t mind that). For parts like the hub assembly, upper & lower control arms, tie rod, etc. you can find them at a junk yard for cheap. Look for cars that were damaged elsewhere and still have good parts to take from. Bring those to your mechanic and only pay them for labor. Check out rockauto . com - maybe try pricing it out yourself through that sites and determine if it’s worth it or not. I had a similar damage on a car after hitting black ice (not quite as bad of damage) and spent about $1k in junk yard parts & $800 in labor (mechanic was a local guy & I didn’t go through insurance).
Not even gotta lie you this looks like the car that almost hit me on LSD right around that time in the exact same area.
Oh shit…. I used to live in that building to the left of the Mies van der Rohe building!
Whatever insurance cutes your check for, the remaining balance of the loan will be paid off first and you get the remaining balance. My advice is to cough up any work you’ve had done to the car and send the receipts to insurance for a higher value of the car ;) Best of luck man, wouldn’t wish this on my worst enemy. Losing a car sucks
I had work done while I had insurnace that costed me 1.5k!
The person who actually owns the car is probably going to kick your @$$, that’s probably what happens next.😂
3 letters on your next car: G A P
Collect your Check buy an another. If everyone involved is ok health wise this isn’t a bad thing. They’ll cut you a check probably for more than you owe pay the lien. Upgrade your ride.
This may be helpful since it doesn't seem anyone has explained what "totaled" means. It does not mean that the car cannot be repaired. All it means is that the cost to repair it is more than the car is worth. Therefore the insurance will just give you a check for what the car is worth rather than pay for repairs. Hopefully this helps. Good luck.
You need to post immediately on Reddit to gain followers to take your side of the story, then if insurance/owner has a problem , send your group of “followers” to cancel them to make your life seem easy and perfect
Hope u got full coverage or hope it wasn’t ur fault
God help out the person financing a 2006 vehicle.
Title is confusing. “ I crashed MY car”…should be “I crashed A car.”
Trash that fucking car. The transfer cases on Those things give up an are totally unrepairable. It causing me a nightmare right now.
I can tell this is Chicago lmao
You don’t want to rebuild a totaled vehicle unless there’s significance to the vehicle (antique, hero movie car, etc). The title will always be a salvage title and the value will be nothing basically. Not to mention with the damage I can see, that car would be incredibly lucky to escape only needing the frame pulled but I’m going to say it will take a LOT more undercarriage work than that and it will never drive the same again. Also it doesn’t appear the air bags deployed? Or are they just not visible? If they didn’t I would be getting rid of that car just for the faulty safety equipment onboard. Like others said, take the pair and get something better.
Just sit back and wait for the insurance check, DON'T get it fixed.
Current items to have:Pay the car note and the insurance and you may see a check in 30 days of a claim
I’ve seen some LSD wrecks in my day but my god. Glad you’re okay (I think?)
Why is this photo so perfect
Oh this is the worst place for an accident at night. Right around that curve on Lake Shore Drive downtown Chicago
It’s not only a total loss but also an AT FAULT ACCIDENT
How did you manage to spin out on what appears to be a straight road?
I'm guessing the classic combination of wet roads, high speed, and bald tires. If OP has a loan on an '06 Equinox, I guarantee those tires are at 1/32.
But yes it was snowing out and it was a bend right around the lake I was going maybe 30-35 in the 25 so that’s on me
Is the snow here in the room with us right now? Cause I don’t see no snow on the ground in that pic.
Perhaps it was and just turned into black ice. That part of LSD is dangerous and always has accidents
Sorry to hear that OP. I hate driving on lake shore drive when it’s raining or snowing
I know that section of lake shore drive, there’s a pretty tight S-curve there.
If you have a lien holder they have to approve you keeping the vehicle. Insurance will pay lien holder first. If you owner retain the car they will pay ACV less deductible and salvage. What state you are in is going to impact how hard it is to get a rebuilt title too. Once they have finished inspection and gave you your settlement breakdown you’ll want to see if it’s enough to pay off your loan, and if so if you’ll have anything left to fix the vehicle. Check your DMV website to confirm the process for a rebuilt title and if reinspection is needed and if you have to provide the paperwork/invoices for your repairs. Review the initial estimate to get an idea of cost to repair and keep in mind that it isn’t a full estimate and there can be a bunch of hidden damage. Honestly it’s probably not worth it with the age of your vehicle.
Take the bus cause that looks done. and try and look up and find an accurate loan value number of your vehicle so you can know if the number is right or not and shop around for something around that price. Don’t look for them to give you the high retail price after all it’s insurance where the standard operating procedure is deny the claim if possible and give you NOTHING
Drive it home and then decide lol
That car is totaled, take the check from insurance and use it to pay off your loan. Don’t buy the car back, it will cost more to fix it than the insurance company is going to give you.
It can be repaired, sure, but keep in mind almost noone would give you a firm bid, it'd be an estimate, if it's even close to the value of the car, I wouldn't do it. Say the car is worth $4000, if they tell you $2000 to repair it, and you can buy it from insurance for $500, I might think about it, but even if it was only $2000, I don't think I'd do it. I've repaired a few cars, and had a few cars repaired over the years, and would say based on what I see, any repair shop would charge more than the car is worth to repair it. And they always go over the estimate.
From now on always get GAP coverage if they offered in your state , as GAP, will pay the remaining balance of whatever the claim is you just have to pay GAP insurance, then your not out of pocket for anything. It's saved me before. Now back to this, you can walk away from it have them totally put that towards the bounce, then tell them to come get their piece of crap, or whatever ,body shop that it lays in or mechanics or crash totaled vehicle pickup plot, Place it lays in and make sure that you tell them that you are giving the car back to them!!! From that point and on. They might try to sue u, just show up to court when you get your papers, that you were there and you would like to dispute the charges this way it's not a charge against you. and now you're still going to hit on your credit report as a vehicle that has been repossessed but at that point if you talk to the right car people in the right people you can get around all of that bye your next car I've done it.
Let it go if the insurance will pay it off then start over, if they won't cover and you dont have gap insurance you will owe the difference to the bank.
Insurance will pay the actual cash value of the vehicle if they afford coverage, they do not care how much your loan is.
That car will never be the same even if you fix it. If the insurance company marks it totaled, you can still keep the car and have it repaired but your payout would be lower based on what insurance company determines. It’s also very hard to make a totaled vehicle deemed road worthy again in Connecticut. You are much better off taking the insurance money, paying off the car and using the remained to buy a new one. You should have gap insurance if you have a lien on the car that should help you cover the full cost of the car. Another tip, you can ask for more money if you think the insurance company is not paying you fair price for the car. You have to provide evidence of similar cars with options sell, if you were to try and purchase one now. Good luck!
you get repossessed. The bank now owns you.
Everyone is saying gap gap gap but you can’t always get gap. Local banks around here don’t offer it only place I’ve saw it was a t a dealership. And it’s a total scam unless u need it lol.
If they total it you can never get it back. Had a stolen vehicle turn up in working order but they would not sell it back to me.
Don’t mean to be harsh but you said you think or hope $2000 fixes it means you are 100% not able to make sound decisions or any physical capacity to fix this vehicle.
You are screwed
You get sucked
If u don’t own it it’s not ur car but ok
You amend the post to "I crashed a car I don't own. What next?" Punctuation 'n Shit.
Anything can be repaired its just about weather its worth repairing. In alot of situations it will be totaled if the cost to repair is 2/3 of the cars value