98 Pace Car Question
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Drifting
Joined: Nov 1999
Posts: 1,920
Likes: 84
From: Roanoke Virginia
98 Pace Car Question
Friend of mine just had his 98 Pace car totalled by a red light runner. Has anybody had any experience with insurance companies when it comes to paying for "collector car" vehicles. Vette was in great condition - had 50,000 miles on it.
Also, any insight on salvage value? Left front clip is damaged and frame bent but engine, interior, wheel, right front clip, both doors, rear clip are all fine. Would it be worth it for him to buy it back from the insurance company to part out and at what price?
Thanks for any input.
Also, any insight on salvage value? Left front clip is damaged and frame bent but engine, interior, wheel, right front clip, both doors, rear clip are all fine. Would it be worth it for him to buy it back from the insurance company to part out and at what price?
Thanks for any input.
Melting Slicks
Joined: Feb 2009
Posts: 3,438
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From: Fairfax Virginia
Low mileage, and by that I mean way, way less than 50,000 miles would be a prime factor any car having extra "collector car" value IMO. So with that said, since it's a Pace Car it would probably be worth slightly more than any other 98 with 50K miles on it.
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The pace car package ran anywhere between $5K and $5.8K, depending on tranny in the car. So it should be worth more than a regular C5 of that year.
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Joined: Jun 2001
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From: Knoxville, TN
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Yes, I have a little "experience". Here's mine...
Dec 2010 - Deer broadsides me. Thought I would never get it fixed. Seems they had trouble finding a door. But once they got one, they painted it and found the necessary decals. Not totaled.
June 2011 - Dear old lady broadsides me. This time it was totaled.
Insurance company made me an offer. Figured it was like a used car salesman and they low-balled me. I did some research on values, ebay, etc and they countered with much better offer.
My car was far from "collector" status. Mild engine upgrades, 165k miles, autocrossed and drag raced it a few times. Owned it for 10+ years.
I had some friends from the local Corvette club wanting it to part out so I took the insurance money, kept the salvage title, and they paid me the difference.
I found another very nice pace car in Johnson City, TN (pretty close to me) and bought it. The pace car is still in my blood...
Dec 2010 - Deer broadsides me. Thought I would never get it fixed. Seems they had trouble finding a door. But once they got one, they painted it and found the necessary decals. Not totaled.
June 2011 - Dear old lady broadsides me. This time it was totaled.
Insurance company made me an offer. Figured it was like a used car salesman and they low-balled me. I did some research on values, ebay, etc and they countered with much better offer.
My car was far from "collector" status. Mild engine upgrades, 165k miles, autocrossed and drag raced it a few times. Owned it for 10+ years.
I had some friends from the local Corvette club wanting it to part out so I took the insurance money, kept the salvage title, and they paid me the difference.
I found another very nice pace car in Johnson City, TN (pretty close to me) and bought it. The pace car is still in my blood...
Le Mans Master
Joined: Jan 2004
Posts: 9,488
Likes: 1,743
From: Knoxville Tn
Yes, I have a little "experience". Here's mine...
Dec 2010 - Deer broadsides me. Thought I would never get it fixed. Seems they had trouble finding a door. But once they got one, they painted it and found the necessary decals. Not totaled.
June 2011 - Dear old lady broadsides me. This time it was totaled.
Insurance company made me an offer. Figured it was like a used car salesman and they low-balled me. I did some research on values, ebay, etc and they countered with much better offer.
My car was far from "collector" status. Mild engine upgrades, 165k miles, autocrossed and drag raced it a few times. Owned it for 10+ years.
I had some friends from the local Corvette club wanting it to part out so I took the insurance money, kept the salvage title, and they paid me the difference.
I found another very nice pace car in Johnson City, TN (pretty close to me) and bought it. The pace car is still in my blood...
Dec 2010 - Deer broadsides me. Thought I would never get it fixed. Seems they had trouble finding a door. But once they got one, they painted it and found the necessary decals. Not totaled.
June 2011 - Dear old lady broadsides me. This time it was totaled.
Insurance company made me an offer. Figured it was like a used car salesman and they low-balled me. I did some research on values, ebay, etc and they countered with much better offer.
My car was far from "collector" status. Mild engine upgrades, 165k miles, autocrossed and drag raced it a few times. Owned it for 10+ years.
I had some friends from the local Corvette club wanting it to part out so I took the insurance money, kept the salvage title, and they paid me the difference.
I found another very nice pace car in Johnson City, TN (pretty close to me) and bought it. The pace car is still in my blood...
For those that don't know, Ron is a big LSU fan...
Pro
Joined: Apr 2012
Posts: 526
Likes: 1
From: Maine
Yes, I have a little "experience". Here's mine...
Dec 2010 - Deer broadsides me. Thought I would never get it fixed. Seems they had trouble finding a door. But once they got one, they painted it and found the necessary decals. Not totaled.
June 2011 - Dear old lady broadsides me. This time it was totaled.
Insurance company made me an offer. Figured it was like a used car salesman and they low-balled me. I did some research on values, ebay, etc and they countered with much better offer.
My car was far from "collector" status. Mild engine upgrades, 165k miles, autocrossed and drag raced it a few times. Owned it for 10+ years.
I had some friends from the local Corvette club wanting it to part out so I took the insurance money, kept the salvage title, and they paid me the difference.
I found another very nice pace car in Johnson City, TN (pretty close to me) and bought it. The pace car is still in my blood...
Dec 2010 - Deer broadsides me. Thought I would never get it fixed. Seems they had trouble finding a door. But once they got one, they painted it and found the necessary decals. Not totaled.
June 2011 - Dear old lady broadsides me. This time it was totaled.
Insurance company made me an offer. Figured it was like a used car salesman and they low-balled me. I did some research on values, ebay, etc and they countered with much better offer.
My car was far from "collector" status. Mild engine upgrades, 165k miles, autocrossed and drag raced it a few times. Owned it for 10+ years.
I had some friends from the local Corvette club wanting it to part out so I took the insurance money, kept the salvage title, and they paid me the difference.
I found another very nice pace car in Johnson City, TN (pretty close to me) and bought it. The pace car is still in my blood...
