hit and run, insurance offer

[wkohler]

Jesus Christ don’t be stupid. There is no reason this car should get a salvage title. You should actually share some numbers with us.

[ASLAN]

@wkohler Don't be stupid?

I did give the number they offered.

[wkohler]

Yes stupid is letting a perfectly good car get a salvage title. The fact that they will suggest the repair is in excess of their offer is insane and those are the numbers we need to see.

[ASLAN]

I am still waiting for them to email me all of the numbers. I guess my thinking, considering what the car needs the offer they gave me was reasonable considering it is an insurance company. It is crazy to see how much these cars have gone up in value since I bought the car 10 years ago. Again, this whole situation bothers me and I will consider all of my options before I sign anything or make any rash decisions such as parting out the car or allowing the car to get a salvage title.

Up to this point, everything has been on the phone with different people who work at the insurance company. They sent someone out to take pictures of the car while I was not home. Their bid was from what they could see from the outside and the current millage shown on the odometer.

If I remember correctly I believe the insurance company thinks there is over 5500 dollars in damages. I'm guessing they based this on brand new BMW parts.

And yes, I realize I could probably fix the car myself for under 600 dollars.

[Mike W.]

Chris is approaching it from a collectors point of view, and probably correct in that context as that is kind of where he is now. I'm not but I respect his perspective.

IMO the offer you received was reasonable, and it can probably be fixed for far less as you seem to know. Can you do a dance with the insurance company and accept slightly less so you don't have to go thru the BS of smog/brake/light inspections AND now have a salvage title? I have no idea but it is a question worth asking.

[wkohler]

I’m approaching it from the angle of the car doesn’t deserve a salvage title. It’s one thing if the owner wants to fix it and keep it forever but it doesn’t sound like it’s the case. It doesn’t deserve to have to go through the BS of getting a restore salvage title and it certainly doesn’t deserve to be parted out. I could have fixed this by now with parts literally laying in my backyard. Salvage titles are a pain in the ass in some cases (some will not insure, and many that do will only do liability) and the cars are hard to sell. It doesn’t help there are douches on YouTube buying cars from copart and “rebuilding” them in complete hack fashion.

And yes, I’m also surprised by the initial offer. If that’s their initial offer, imagine what they actually think the car is worth. Of course I also don’t see how the damage even adds up to 75% of that offer at retail body shop prices. I’m very interested in the repair estimate.

[ASLAN]

@wkohler Not a fan of samcrac?

I'll call the insurance company again today and try to get them to actually email me everything.

@Mike W. Yeah; maybe if I try to barter a payout for the repair rather than them totaling it? How likely are insurance companies willing to move on their offers?


ps. What the fuck was he thinking??? https://youtu.be/z-lbQdRpToU?t=340

[Blue Shadow]

where is 6500 bucks in damage? ahab said it was about 500. I kinda think the same. Those parts come off and go back on easily and can be painted as needed. The air dam might be hard to source but the rest, south26 can probably hook you up. Frame damage shouldn't be much and could be straightened with a bfh.

If you want it perfect, take the funds and have an imperfect title. If you want it really sweet, get a real estimate from someone you would allow to do the work and then see of the ins co can ok that amount and keep a clean title.

[Brendan P]

If need be, I would suggest hiring a third-party appraisal service (though, BAT and listings here should already be enough to convince them not to total the vehicle). This one does not deserve receiving a salvage title and should stay clean, as the others have been saying.

If you need to source parts locally, I have a front bumper (w/ shocks, front reflector, trim & side reflector) and the metal bracket & valance and am located in downtown SF.

[Rich in Tupelo]

where is 6500 bucks in damage? ahab said it was about 500. I kinda think the same. Those parts come off and go back on easily and can be painted as needed. The air dam might be hard to source but the rest, south26 can probably hook you up. Frame damage shouldn't be much and could be straightened with a bfh.

If you want it perfect, take the funds and have an imperfect title. If you want it really sweet, get a real estimate from someone you would allow to do the work and then see of the ins co can ok that amount and keep a clean title.

If your insurance company or any insurance company is doing business with a place that quoted $6500 for what little damage we see in those photos, then they are getting RIPPED THE FUCK OFF by that place and need to run as fast as they can in the other direction. You need to go somewhere where everyone doesn't have legal cards for dope or that isn't importing crack. That's just in fucking sane...

[Nosis]

Just another perspective. Here’s a rough hypo5etical...

The IS air dam is NLA, so who knows what that part was valued at by the adjuster if the pictured cracks put that part in the replace, not repair, column. The bumper beam and the plastic look to be about $800 for new bmw parts. If there is an IS air dam in the universal-shitty-but-always-available-so-stupidly-overpriced-insurance-parts-network, it might be listed for $1,000, if at all, and the bumper parts might be close to retail for used part for the same source. So just for giggles, $1,700 in parts, if the valance was damaged, add $200 more. $1,900 then. Then the cost to remove the old, paint the new, and install it all. I haven’t had a lot of this kind of work done, but it was $800 or so in labor only for my local BMW dealer body shop to paint and R&R an e39 front bumper cover, so maybe double that for 2 parts (the valance and the air dam) needing paint. So $1,600 in labor and $1,900 in parts for $3,500 total to the adjuster? If your insurer is quoting BMW parts, congrats on having an excellent policy, or adjuster...

Still low compared with your adjuster’s estimate, which values your car at $6,700 and buys the car from you as a total loss (which you may, possibly, then buy back). Assuming they use 80% as the total loss threshold, the estimate was over $5,300, or so, to repair.

So maybe the air dam is truly NLA from the insurance company’s perspective and so the car can’t be fixed...

Perhaps they determined the bumper mount is bent, requiring much more labor to fix...

I will be interested to read the real reason they came to their conclusion, which you may now know.

But their reasoning really only matters to the extent they can be persuaded up in total value, depending on whether you want to get more than $6,400 and get the car and a branded title, or more than $5,000 and get a check and to keep the car with a clean title.

Without a bunch of detailed pics of your car’s condition, or a whole, full-blown BAT add for that matter, it is tough to even guess whether your car was a $5,000 car or a $15,000 car. I don’t follow very closely but, like you have noticed, prices are up but are also all over the map. The question comes down to what you want, and I hope you get it.

From what little I can glean from this thread, I am pleasantly surprised your insurer offered as much as they did as a starting point.

From reading this long, rambling, post I just wrote, I would likely be inclined to push value up as much as possible (obviously) then settle at the 80% amount to keep the title clean. Then fix it reasonably, commensurate with the condition of the rest of the car. If your car is an $8000 car after you fix it for, say, $1,000, you would be up $4k and have $12k in your pocket. The only thing that seems for sure here is to keep ownership of the car...

Good luck.

[Mike W.]

where is 6500 bucks in damage? ahab said it was about 500. I kinda think the same. Those parts come off and go back on easily and can be painted as needed. The air dam might be hard to source but the rest, south26 can probably hook you up. Frame damage shouldn't be much and could be straightened with a bfh.

If you want it perfect, take the funds and have an imperfect title. If you want it really sweet, get a real estimate from someone you would allow to do the work and then see of the ins co can ok that amount and keep a clean title.

That's how you and I work, but not how body shops work. They look up new parts, maybe aftermarket if available, maybe not, then work from there. Arguably used parts are not in like new condition, may or may not even fit without work, and cost them more time, which isn't cheap. They want to bolt new stuff on and paint it. Seems crazy to those of use who DIY, but I kind of understand it. Kind of.

[ASLAN]

I don't know where the 6500 in damages talk came from. I said I believe the insurance person thought it was 5500. Yes, still seems crazy high, and yes I live in a stupid expensive area. Again, I have not been sent numbers yet. When I started this thread, it sounded like they were going to write me a check for the damages, not total out the car.

Sorry everyone for how long and drawn out this whole thing is; I appreciate all of your input. Sadly, I work 8 days a week in San Francisco and haven't even had the chance to contact them again. Every time I talk on the phone with them, I hear different things; seems like they don't even really know how they want to handle the situation. I was even recently sent a letter stating that they now own my car without me agreeing to or signing anything.... that's a whole other story. I am hesitant to give specific details until this issue gets sorted out. Maybe I should't have ever contacted them in the first place.

Again I appreciate the input and would rather keep the car. I'll Keep you all posted.


edit: Someone mentioned checking values to show the insurance company from hagerty. It appears they don't even have a valuation on e28's????? https://www.hagerty.com/apps/valuationt ... h/Auto/BMW
-Dave

[SeattleGuy]

Unless it's an M5, a 30 year old 5 series BMW is probably valued at about zip by the insurance companies, no matter how nice it is.

Geico quoted me at $5K after I scratched both doors last year. I can't complain about that. If they are gonna total it and you buy it back from the carrier for $5-600 you have $4K for mods and stuff. I didn't total my car luckily but I wouldn't have really cared because I'm never selling it. If you *ARE* going to sell it that might make a difference as you are then left to show the buyer "hey man it was really noting."

Also when you have an old car unless it's some kind of Haggerty-worthy thing, you just go straight to the comps. So it's you against your insurance carrier to a certain extent. You go to searchallcraigslist, or right here or BaT (best choice LOL) to find comparable cars and you put the links and pics in your email to your carrier. Most times they are pretty cool about trying to get you good value just glad-hand your adjuster and be nice. Most of them are kinda car guys and appreciate cars like ours. If you need any help or have any questions let me know. But yah if you never plan to sell it unless you are sitting on much cash, I would just take the salvage title and buy a whole new suspension and detailing or something like that, right. Think about it.

I was just in SF twice this year, next time let's get a beer. We hang out at phono bar - Hayes Valley, peace.

[laguna30]

Tell the insurance company "NO"

Provide them with "comps" from different sources

Be firm

come back here for moral support

[SeattleGuy]

And the drumroll...... what did you end up doing?