3rd Gen Owners, I need the community's help

Find seven similar in your area working out in concentric circles.

No it is not. Deal with it. It ain't that head spinning. Thirty minutes at most. Average the seven and stand your ground. If they balk tell them this: If my house burned down you would replace some of my furniture and appliances with like kind and quality for what you can buy it for, that being less than the public can buy the same at. DO THE SAME ON MY TRUCK BITCH! Bring me the same truck, same miles and we are good. Otherwise, pay me this amount.

 

yeah, i left that there specifically for you two.... haha

 

Just my $.02 having been thru this recently, use at own discretion.
#1 don't rush to take an offer you don't agree with.
#2 confirm how long and how much $ they will pay for your rental, specifically now that they made you an offer. Assuming your policy has this coverage...
#3 Ask them for the analysis or report on how they came up with the number they proposed. start here.

You should be getting the full cost back for what it costs to replace your vehicle, not its "value"...

How it should work: they use your VIN to decode your options/build and then search for a few similar vehicles currently or recently listed for sale (possibly sold) with similar specs/options. They then add/subtract based on differences is particular options, mileage, location and even an assumed % off for negotiating. After doing this for a few vehicles they average each total to find an average base value. They then add/subtract based on the perceived pre-incident condition of your vehicle. For example tire condition, paint condition, interior condition, engine condition etc.

Assuming they send you a report of some type, look closely at the vehicles listed, you should find them for sale... Where they one owner? Did they have accident history? Where they short bed vs long bed?... Did they account for those differences? This is where you could argue for an adjustment.

How did they rate/grade your truck? did you have new tires, tread depth % of new? maintenance records? options or aftermarket extras they missed? again negotiation areas.

Then add in all other tax, title, fees required to actually make a purchase and drive off in your area.

 

https://www.koonstoyotawestminster....nster-md-c36a03a30a0d0cc71f4d14eb10a62e4a.htm

 

https://www.koonstoyotawestminster....nster-md-9ab6269c0a0d04fe0af73d8a7519ea48.htm

 

dude, you're the man! Thanks for passing this along. I'll check these out for replacement

 

Making progress. I'm up $920 from the first offer.

They did the initial and second valuation vs the TRD Sport, which I only caught when they sent the valuation report over.

Maybe an analysis on TRD OR will come back more positive? I'll know tomorrow

 

Awesome!
In general, never pay anyone's first asking price, and never take anyone's first paying offer

 

Then the insurance people where grandma are, are idiots usually buy back is at salvage cost. I know here if the salvage cost on her gmc was 3k you would get keep plus the 4K difference.

 

It kinda surprised me too. My uncle is driving it now for a whopping $550.

 

That’s because In most home owners policy’s it a replacement value policy plus usually like 10 percent. Completely different types of policies. But yes that should at least do their job correctly.

 

Insurance agent. Twenty-two years. Specializing in property and casualty insurance. I have yet to see anyone receive a check for an additional 10%, dwelling or contents.

 

This...

If the accident wasn't your fault, you should be made whole. Replacement cost, plus tax, plus rental, plus accessories (discounted from use, or just remove and reinstall yourself).
It's basically up to you to negotiate close enough that you don't wanna fight anymore lol. Whatever that point is up to you.

 

I don't know who your insurance carrier is, but most are now using a service called CCC One to come up with "Market Values" on totaled vehicles. They basically compare to local dealers and pretty much always adjust your value down.They estimated my sons Tacoma initially at approx. $12,000, we wound up setting for close to $19,000 including sales tax which they are required to add onto the final price.
I'm a retired attorney and was able to do lots of research on this CCC One company as well as battle with the insurance company for my son. I disc covered they were in flagrant violation of the Massachusetts Insurance Commissioners guidelines for determining values. I suspect if your company uses them, it may be a similar situation.
If you do a bit of research you will see CCC One as well as the insurance carriers they contract with have had several class action suits files around the country. CCC One and the insurance companies have lost all of them. I've attached a link that outlines one of the latest lawsuits and what these guys do. Good luck.

https://www.wbur.org/bostonomix/2019/02/22/ccc-information-services-vehicle-appraisal-source-one

 

They are indeed using CCC. I've already discovered some pretty reckless "math" in their valuation and have brought it to light with my insurance.

I'll look into your information, I very much appreciate you sharing this. If you have any specific tips feel free to PM me

 

I would look to see if there have been any lawsuits as a result of using CCC against your insurance company. In addition, I would look to see if there are any specific guidelines published by your state insurance commissioner or maybe even call them and ask.

 

Hmm, I can tell you looking at my policy for homeowners my house is insured for x plus an additional 10% extension. The personal property insured at 80% of x actual loss which covers all contents. My point was the policies are different you can’t use to compare how they pay out against each other.

 

Well, I'm at a point of diminishing returns. I got them up to a vehicle value of $36,979 and a total reimbursement inclusive of tax, etc of $38,281.

I don't think I'll get much further than that, and that vehicle value is more than I paid when I bought it ($36,550), so no complaints.

 

Agreed, I'd take the money and run and just be aware of the whole CCC issue if, in the unlikely event you have another issue.

 

You can always deny the 1st offer and hold out for more $$$. Always!