Help! Buy back, fix and salvage OR take the money and find a new ride?

I was rear ended and after taking to the shop it was confirmed that there was frame damage so GEICO decided it would be a total loss. The shop estimated $19,000 on repairing the rear tail light, replacing tail gate, replace bumper, replacing the rear passenger side panels due to it bowing out and replacing the frame (they do not do repairs). GEICO’s payout offer is $21,295 and after my 500 deductible the pay out would be $20,795… If i decide to buy back, their offer is 2,350 which would mean I would walk away with 18,445 but would be on my own to repair damages and get the frame fixed. I called around and found a shop that says they repair frame damage and are a certified Salvage shop so I can receive the documents from them to get a salvage title from the DMV afterwards.

What would you do in this situation? Would you walk away with $20,795 OR buy back vehicle and walk away with $18,445 and gamble with seeing how much it would cost to repair frame… if i buy back i would probably only repair frame, fix tailgate/bumper and replace tail light. I can live with the slight dent on the rear side panel and rear fender clips broken.

There are currently no other issues with my truck (Actually still drives just fine) and have 156k on the odometer. 2011 Toyota Tacoma TRD Off-road. I also live in Hawai’i so buying another Tacoma, especially a second gen TRD off-road would be a little difficult as people mostly hold onto their trucks here if it’s an Off-road.

 

The truck totaled is worth than $2,200
I'd buy it back. Worst case, part it out.
What's left scrap it and come out ahead.

 

I would say yes. Buy it back. And do a Ute tray.

however there are multiple questions
1. Where is the frame bent. Hopefully it’s in the rear and can be resolved.
2. Do they keep track of payout and will they refuse to pay out again if you fix it and get hit again. I imagine yes.
Don’t know what to do about that. If there’s a way to reinstate that or get proof it’s fixed and provide.

or switch to a different provider. With a salvage title at minimum they consider it worth less.

that would suck if you take the money
Make an awesome Ute

it gets hit again
And then next time even though you have insurance and pay for it
They say too bad so sad

OR, since somebody else hit it. It’s their fault. Their insurance pays it. That should happen if things make sense in the world which they don’t always.

they break vehicle. They pay for vehicle. Period.

if someone hit me and bought my truck a Ute tray with tent worth a shit instead of useless bed
Would be fantastic
They get close but don’t seem to ever take it all the way since adding steel. Side effect I guess.

 

Just based on the few photos you posted, I would personally take buy back option and fix it enough that it’s safe to drive and operational. Use the rest of that money for something else, and now you won’t have to worry about dents in the bed or bumper of your truck haha. My Tacoma had been rear ended (or backed into) before I bought it, so my bumper is pushed in on the left side, and my frame is actually bent between the rear axle and the rear bumper. Still holds a clean title though so I’m guessing the previous owner never reported it. Tailgate works fine, drives perfect, and I have never had any issues in 8 years of ownership.

 

I would love to keep it and part it out but I live in a high rise structure and the truck is park on the eighth floor of a parking garage and cannot keep the vehicle or work on it myself rn to just part out. I would have to sell as is so that maybe an option.

 

yes the frame is bent in the rear. They said rear passenger side is slightly pushed up and left and left side rear is bent to the left.

They said they would still insure it after I get the salvage title but would only be worth half of the estimate it currently sits at. They currently valued it at 21k so the value with a salvage title would be around 10k which doesn’t give much wiggle room for them to justify repairs in the future for a claim. I’d have to pay out of pocket if it’s over a certain threshold and if totaled again would only be paid out a percentage of that 10k.

 

yeah looking at the current prices of Tacoma’s a may just buy back and keep my fingers crossed the frame repair isn’t too expensive… still not sure though I keep going back and forth on taking the 20k and getting a 3rd gen but I really love my truck and all that I’ve gone through with it. If I get a 3rd gen I’d still have to come up with or finance about 10k which I don’t really want to do. No car payment has been nice… yeah it seems that your previous owner never reported the accident. I kinda wish I didn’t now but I didn’t think it would get totaled just from looking at it.

 

I'd buy it back and either put a new frame (old stock) in which runs about 7k or go through a salvage yard for a good frame

 

Take the money and buy a new skateboard.

 

"They said" is not a fact or proof.
You either saw it yourself or didn't. They could be lying to sell work or buy the truck.
That also doesn't make sense. Rear end typically means buckled up.
Judging by the pic your bumper cover looks dented, the flare clips broke, and the bedside looks straight. This looks minor.
Might be wrong. Hard to tell.

But I do know this. Seeing something is a fact. "He said she said" is not.

you might be able to lay down look up and see. Hopefully.
Co-worker had a Chevy like that. Rear ended, bumper ended up facing down.
The buckle in the frame was very easy to see.
Why would they not show you. That is suspicious. When I got rear-ended and took my truck to a body shop, we both looked at the truck together. Not hard.

I mean...if you do a ute tray, you'd have the bed off
with access to repair the frame
and strengthen it

not really worth it. Buy a whole messed up vehicle just in the hopes maybe someone wants a valve cover a year later.
Last time I did that it was to sell the whole car as a running driving parts car, knowing it had good parts
to not mess with that, and be sellable to whoever. Such as if anyone was trying to manual swap an auto etc. or whatever other reason
ie selling whole. Not 1 valve cover.

$7k and probably over 30 hours worth of work
to swap a frame otherwise fine
IDK about that
instead of $100 plate kit or whatever a repair and reinforcement kit costs that is probably not that much.

or, OP, if you don't feel like dealing with it
you could buy the truck back
sell it cheap
and let someone else have a deal to build a ute
still make some profit on your end

Who knows. Maybe if the truck becomes good,
and someone hits it again, well if I was in that position I'd be going after the party for destroying my property and paying for the value of it. Whether that involves an appraisal, small claims court. Don't know.
I know it wouldn't be "hey I wrecked your vehicle here's 5 bucks"

 

There is an intangible value in driving a salvage title - it's already salvaged, who gives a shit if you get door dinged or whatever.

If you like the truck and want to keep it, keep it, get the frame fixed, make or have made a flatbed or buy a Ute tray, and drive it until it explodes. For that kind of money leftover you can buy a low miles engine and trans, stash them away for when it needs it, and be good to go for decades.

 

plus, if it gets armored
which it should be and is the point

people will probably be less likely to hit it. And less damage if so.
if not their car sliding underneath from higher clearance.
Or adding more lights than stock which is probably good to do.