-CorvetteC5-

So my DBGM 2000 Corvette Coupe got hit by a dumba*s without a licence just insurance. Had my baby for just a year, one of the nicest c5's out there. The police report is in my favor the other party's fault. This happened on 5/25/12 had it towed to my house GEICO told me adjuster would come look at it in 3days, he came in time looked at the car and then had it towed to the body shop of my choice. The nice guy from the body shop says he can't fix it. Now my car doesn't look to bad but it is one broken right fender, front bumper, one rim broken and the other rim messed up, it has suspension damage, but the weird part is that there's huge gaps everywhere and everything moved like the car is twisted. So right now the adjuster told he will have the value of my car by early next week. I seen vette's the same year with more miles go for 16K i owe 7k right now i would be OK if they give me a check for a least 14k and i get to keep the car. Now my question is has anyone deal with GECIO before? Can i keep the car if it's salvage if so will it cost me? Will they give me what it's worth or low ball me? I have full coverage and GECIO told me im covered. I rather have it salvage then fixed it will never be the same.

-CorvetteC5-

I will post pics later

c4cruiser

Not with GEICO but a lot depends of the adjuster and what he knows specifically about Corvette values in your area. Sometimes an adjuster will offer a low payout and not want to bargain at all.

In any case, if the cost of repairs exceeds the value of the car, it will usually get totaled and you work with the adjuster to come up with a value. They could low-ball you and then you have to prove the car is worth more than their appraised value. Just because you have "seen" C5's of the same year at higher values doesn't really mean a lot to the adjuster. He most likely has access to all sorts of C5 value data in your area and his offer will be based on that alone. He really doesn't care that you still owe on the car.

As far as buying the car back, GEICO will pay you for the car, take the title, and have the car declared as a salvage. When you buy the car back, you will get a salvage title from your DMV. That could make the car unsellable later on if you fix it and then sell it. It can be difficult to "wash" a title.

sfc rick

You owe $7000 then subtract another $2500-3000 to keep car.....then you're left with maybe $7000? Possibly less depending on if Insurance Co goes with more than $3000 by back?

I don't know..... but with all that and IF you can get it fixed with what's left over, you have a car that's worth %$# ? How is that a win for you?

I wish you the best....BUT try your best to get every cent you can. It's the jerk's fault and you shouldn't have to suffer a loss because of this.

andrec10

Its Gieco....Good Luck!

UniqueDoug

Where have you seen this? Ebay closed listings? Asking prices here, on Autotrader, etc are obviously not selling prices.

What are the miles?

for pics.

And, of course, sorry to hear about your baby.

-CorvetteC5-

I'm sure i can sell the salvage vette for at least 8 grand, where i live people really don't mind if it has a salvage title insurance company's will salvage car for anything.

Here's some corvette's my year with more miles then mine in my area go for 17K+

http://www.cars.com/go/search/detail...nal&listType=1

http://www.cars.com/go/search/detail...nal&listType=1

http://www.cars.com/go/search/detail...nal&listType=1

Should i show him this? I need all the advise you can give, Thanks everyone

had2have-it

I couldn't get my Geico claim straightened out until my attorney contacted them. Geico spends alot for alot of tv commercials, recently their customer service has been rough.

-CorvetteC5-

What does that mean? they been nice to me so far, i have full coverage

-CorvetteC5-

They are really wanted in my area

-CorvetteC5-

Here's the pics

http://s1140.photobucket.com/albums/...7/The%20crash/

Look at the huge gaps

BWF07

First off what kind of a body shop did you have it taken to. Are the Corvette specialist? Maybe the body shop is correct and it is beyond help, but if this shop is not familiar with Corvette's i might have it shipped to one that is.
As far as accepting a check and then keeping the car, the insurance company will charge you something for it as a salvage so you may not want it and simply keep the full amount (minus what you owe) and state looking for a replacement.
OK, just saw the pictures and based on what you posted it does not look like something that cannot be fixed.

-CorvetteC5-

yes i took it to a body shop that works on classic, corvette's, drag cars, everything american made. He told me he can't find how fix the huge gaps everywhere it's like everything moved, he can hide it but that won't be fixing it. He can strip the whole car but even then it might not solve the problem. Highly recommend in my area.

UniqueDoug

A 2000 with 85k for $20,000

That dealer needs to put down the crack pipe. And I can say that because I'm a dealer.

More on the actual price you will get soon, gotta read some more posts.

UniqueDoug

And which area is that?

And, I'll ask the questions once again.

1) How many miles is on yours?

2) What specific data are you using for sales price? Once again, SALE price, NOT asking price, which is what those three links showed.

Need a harsh wake up call. Here are some recent auction sales of your year.

05/31/12 RIVRSIDE Lease $9,000 94,930
05/31/12 DFW Regular $9,100 148,112
05/24/12 SO CAL Regular $9,850 128,260
05/17/12 TX HOBBY Regular $10,700 77,300

They are going to low ball you, probably around 12-14.

fendermender

I'm in this bussiness and I have to say I'm having a hard time grasping what the actual question is ??? Total yes no? Buy back yes no? How to get more from the insurance?

I will say that from the pictures posted, I see nothing to indicate an impact great enough to widen all the panel gaps. Actually I don't know how that would even happen. I see one door gap that looks rather normal to me.

Probably best to let them total it, come to an agreed price and move on. Unless you are in the bussiness, it's not that easy to sell salvage.

-CorvetteC5-

My question is how much do think it will cost me to keep my salvage car?

-CorvetteC5-

My vette has about 90 something K miles and i flew over 300miles to get my vette that's how hard it is to get a nice looking C5 in Santa Rosa, CA there one about 10 miles from my house in REALLY bad condition bad car fax for 15k trust me there hard to find in my area. I'm 95% sure i can sell it salvage.

racebum

i don't think quoting artificially high ask prices is really going to do you any justice. ask prices are not sell prices and the insurance agent will know it. if you have the time and can watch no reserve auctions on ebay that should give you a fairly close idea of what they are actually getting. if you go to edmunds.com and type in your details you can get a better idea of actual sell prices. sometimes they are a little low but a 2000 coupe with 100k miles is showing 10.5k to 11k which is about right based on closes i've seen.

if they offer you anything over 11k it's a good deal. take the cash, add 5k to it and buy a newer lower mile c5. money ahead and with a clean car

UniqueDoug

Not according to your first post.