Update on my total loss

A friend of mine just wrecked his Silverado 2500 a few weeks ago. He ordered it new and took delivery in February '21 and had 10k+ miles with nothing put into it. He originally paid $47 with his GM discount, which I think he said was worth about $3k, and they're giving him $58. Sure, he had a discount and there were fees, but with the market like it is right now, vehicles are just worth more.

I've found trucks identical to mine (except color) on sites like Carvana a couple years old with 30k and listed for more than what I paid new. So yeah, it's good for insurance to give you what the vehicle is actually worth, but it sure must suck to have to find a replacement vehicle right now. Slim pickings and hefty markups.

 

After looking at that smash Tacoma, glad you are OK.

 

Same color, and yes still working graves. I made the mistake of working day shift at one job and working nights at the other with no days off inbetween to recover.

 

Same deal as in no mark up and I'll be getting money back from the OG deal from the refunds. I believe I made out. Just add it to the loan and pay this truck off sooner then expected.

 

Usually, if the vehicle is under one year old insurance companies pay full purchase price +tax and license fees, hence the payout. But holly molly, these trucks appreciate faster than gold! I bought my brand new fully loaded 2019 OR for $36k, I can sell it today for way over that. Crazy times for sure.

 

Hmm....the most the taxes would be, even on the full value of the truck, would be around $4k or so. Add another $1k for DVM, dealer fees, etc, and you're up to $5k. There has to be something else in there other than tax and fees. Could be negative equity on a previous vehicle or a lot of add-ons from the F&I guy, or a combination of both. Unlike others I don't judge the financial decisions of people I don't know, but I would recommend you take a careful look at the sales order and financing disclosure for your new truck so you know exactly what's being financed.

The important thing here is that you are ok, and you were made whole for your loss. Best of luck with your new Tacoma

 

Good for you, you'll come to appreciate the longer bed !

 

i totalled a < 1yr old car a few yrs ago. get ready to pay out your ass on your insurance for the next few yrs.

57k may seem like a win now but they will get their money one way or another.

 

Yea I know that is coming.

 

I did get all the protection on the last one. Tires and rims protection, along with windshield and dents.

 

Ahh ok. If you took those plus an extended warranty that could explain a lot of the extra financing.

 

paid 25k for my old 2020 sr 4x2 and got 38,5k after total. this was in june 2021. used the money to get a 4x4 and pocketed the extra.

 

The Tssc Pre-collision , they say kick’s on after 25 miles per hour. After seeing the front end of the Tacoma smash in. Curious does pre-collision will it work at very high speeds?

 

Mine says 35 for that to work.

 

this is not even close to being true.

 

And you basing it on?

 

Being in the industry.

 

Be sure to cancel all those protection policies as you should get a decent pro-rated refund from each policy.

 

Me too, 26 years and counting.

 

then you should know that isn't true. commercials all over the TV touting "new/newer car replacement" that don't mention you have to pay extra for it (and no one pays extra for it lol). and it doesn't apply if they're a claimant, and they don't have it on their own policy.

i deal with gap now and never see it as well. does coverage like that exist? yes. is it common? not at all.