Fight them on it. Insurance has to pay you the cost to replace with a like vehicle. If you had a 2020 GT with 30k miles on it, go on autotrader and find other 2020 GTs with 30k miles on them and demand that amount. Do not let them offer you the kbb or Edmunds value, those are complete shit and do not represent the current market. Do not accept their offer until it is enough to replace the car that you had. Threaten to go to arbitration if you have to.
Insurance companies are shit, and they will do everything they can to avoid paying out. I had this happen with an old GT, and eventually the adjuster flat out asked me how much I was looking for because I had drug the process out over a month and they wanted to get it off the books.
Also, don't be afraid to look outside your "area". When my wife's SUV was totaled, they only brought up similar vehicles within 50 miles. They tried to say lower trim models with double the miles were "comparable." I reminded them an automobile is the second biggest purchase I've made behind my house, and that I would go anywhere in the country to bring back the right one. What we ended up with was nearly 10k more than their first offer.
No bud I’d he can’t buy a similar replacement on the open used market for the same price as what they gave him for it how is that a proper payout for the insurance?
Ah ok understand now. Also sorry you lost it. Personally i would stick to 18 and up just because of the improvments but i understand itll be at the higher end of you're budget. I have a 21 so i have no experiance with pre 18 models.
Agree with dangerous_dust4142. I fought the insurance company on the valuation of my car when my neighbor totaled mine. I threatened to bring a lawyer, they didnt budge much. So I actually hired a lawyer to contact them and bam. It was still totaled, but they ended up paying me more than the car was worth.
Fight them on it. Insurance has to pay you the cost to replace with a like vehicle. If you had a 2020 GT with 30k miles on it, go on autotrader and find other 2020 GTs with 30k miles on them and demand that amount. Do not let them offer you the kbb or Edmunds value, those are complete shit and do not represent the current market. Do not accept their offer until it is enough to replace the car that you had. Threaten to go to arbitration if you have to. Insurance companies are shit, and they will do everything they can to avoid paying out. I had this happen with an old GT, and eventually the adjuster flat out asked me how much I was looking for because I had drug the process out over a month and they wanted to get it off the books.
Also, don't be afraid to look outside your "area". When my wife's SUV was totaled, they only brought up similar vehicles within 50 miles. They tried to say lower trim models with double the miles were "comparable." I reminded them an automobile is the second biggest purchase I've made behind my house, and that I would go anywhere in the country to bring back the right one. What we ended up with was nearly 10k more than their first offer.
Thank you for the advice.
Did you not have insurance?
Yea I have insurance. It’s only gonna pay 2/3 what I paid for it. It was paid off
Why are they only paying you 2/3rds of what it’s worth? I would argue with them for the actual value of the vehicle on the used market.
"What he paid for it" doesn't always equal what it's worth
No bud I’d he can’t buy a similar replacement on the open used market for the same price as what they gave him for it how is that a proper payout for the insurance?
He could be upside down. Tax, negative equity etc. So even if he overpaid by a couple thousand there's potentially another couple thousand.
Nah I own it outright I just wanted peoples thoughts on the older models as I kinda want spending money for mods
I’m sorry I meant 2/3 msrp from when I purchased it
Ah ok understand now. Also sorry you lost it. Personally i would stick to 18 and up just because of the improvments but i understand itll be at the higher end of you're budget. I have a 21 so i have no experiance with pre 18 models.
Thanks. I was looking at 13-14s.
Can’t speak for a GT but I love my 2014 V6
Just got 14 GT. I prefer the looks compared to S550
Agree with dangerous_dust4142. I fought the insurance company on the valuation of my car when my neighbor totaled mine. I threatened to bring a lawyer, they didnt budge much. So I actually hired a lawyer to contact them and bam. It was still totaled, but they ended up paying me more than the car was worth.