How much will insurance give for new bumper

That isn't the point though. Let's break this down...

The insurance company doesn't have a lien against the truck and have no say in how you fix your vehicle. They exist to write a check for the damages, period, and it's up to you if that check goes to a shop or to you. What if I'm a body guy by trade and I decide I'm going to fix the damage on my own? You think an insurance company can tell you that you can't do that? Not a chance... In addition, the OP was rear ended, so presumably he's getting paid by the other driver's insurance company, not his own. A third party insurance company has no control over you or your vehicle, that's just silly. You tell them to make the check out to you and they do it. Been there done that, so have dozens upon dozens of folks here on TW.

But it's not though. How is that so many people have been paid directly by insurance companies in these scenarios? It sounds like you've never actually taken the time to explore your options after an accident and you just take whatever the insurance company offers you. I've literally stood face to face with an adjuster and told him I was going to fix the damage myself, he said "that's a smart way to save some money" and cut me a check.

Maybe some banks bury that in the fine print, but it's not like they come out every month and check to see that the truck is maintained to their standards and unmodified. Unless you plan on having your truck repossessed then this isn't something you should ever be concerned about. And even if that did happen, bumpers bolt on dude, you could go pull a stock one from a junkyard and slap it on if you knew the truck was going back to the bank. You'd probably want to do that anyways to get your money out of the more expensive aftermarket one. The bank is going to sell it at auction for a fraction of it's value anyways. This is just silly...

 

The bank assumes a risk when they give you a loan. Your credit worthiness is what they use to set an interest rate. Everything is factored into this rate including any losses that the bank might face.

 

Hear hear!

In NY at least, my Tacoma is financed but the bank doesn't own it, I hold the title.

It does however say on that title that the bank has a lien on it. This does not mean they "really" own it, it means the truck is collateral on the money they loaned me. The bank doesn't own it, they just have specific legal recourse if I don't make my payments.

 

Title Vs. LienJust because you hold the piece of paper that serves as certificate of title doesn’t mean you own the car free and clear. Regardless of who holds the piece of paper, if a lienholder is listed on the title, that lienholder has a right to the car. While the lienholder could be a lender, it could also be a co-buyer or even a family member who once had ownership rights to the car. To remove that lienholder, you will have to either have him sign a document releasing his rights – and your car’s title – or have a court remove him from the title.

law is a bitch

 

What is your point? A lien doesn't mean the bank gets to dictate how you drive/maintain/modify/repair/etc. the vehicle. That isn't how it works. If that was the case then the majority of folks here on TW would be in violation of their loan agreements and subject to repossession.

 

https://www.repairerdrivennews.com/...ct-more-than-auto-body-shop-customer-insurer/

 

WOW. Ok, my ins co said they would pay me directly before going to body shop minus deductable. Then add supplements if needed. Once they get money from other ins co they send me deductable back. I opted to go directly through other ins co. As body shop told me, they give ck to him or me then i put on whatever bumper i want up to the amount from ins. I just dont know what that # is yet. Trying to figure out how much i will have to spend on bumper.

 

And they are.

I have just given you the legal skinny.

as far as me just accepting a claim... nope, I do my due diligence and check.

 

You might want to read this before you decide

https://www.repairerdrivennews.com/...ct-more-than-auto-body-shop-customer-insurer/

 

Now I’m done for good.

So sorry for bringing up a part of life than no one thinks about.

sorry for trying to help, should remember that help here is not about being correct or legal.

 

Did you even read that?

"One which asked to remain anonymous told us they viewed a financed vehicle as the customer’s property to do with as they pleased regarding parts — while a leased vehicle was considered the bank’s property being rented to the customer."

“Toyota Financial Services recommends but does not require customers with a retail finance contract (new or used) to obtain genuine Toyota parts when repairing their vehicle,” corporate communications national manager Vincent Bray wrote in an email. “Unlike a lease vehicle which can be inspected upon return, we don’t have a process to inspect the repairs of financed vehicles. The same is true for customers who add aftermarket parts to their financed vehicle which could increase or decrease the value.”

 

Hmmmmm, does that count for any changes like wheels and tires

 

The problem is that you aren't correct, and you aren't helping anyone by claiming they are breaking the law when they are not. Quite the opposite actually...

 

Never claimed any broke the law dude, you ain’t read anything I posted.

everything is correct it is in the law books and in your financial contracts which is law.

your duty should be to ensure you don’t violate something that can get your shit taken from you.

What I posted is what any lawyer would tell you also.

Dealing with this is tricky, like the last link says, TFS may not care, capitol one sure as hell does.

sorry you can’t see this.

 

it can, your insurance company seems like a reasonable one, the question is the finance co.

If they are the type that requests documented parts for repairs, you MIGHT violate some rule or clause in your contract.

information is power, it never hurts to ask.

you can always keep the old stuff to swap out if there might be an issue. I always do and always advised customers to do the same.

 

I'm not arguing with you on this, but rather proposing a question that counters your point.

If the bank assumes ownership of your vehicle and it's their vehicle that they are "renting" to you... Then why would a diminished value check go to the vehicle "holder" and not the bank?

 

Because of sunken cost fallacy and refusing to admit that you possibly could be wrong.

 

Definitely not always the case. I got rear ended a couple years ago and USAA told me to get a quote to replace the bumper. They then wrote me a check. Just to make sure I wasn't doing anything I shouldn't I asked "do I actually have to replace the bumper?" They said "no, you can do whatever you want". I snapped the bumper back on best I could and sold the car (I was completely honest with the people I sold it to about the wreck and bumper damage).

Edit: I somehow quoted the wrong person, which is why my response doesn't make any sense to what you said.

 

Sooo...I'll just put this here, in an attempt to save the thread from internet debates.

I was rear-ended too and quoted $1,515 for the parts and two hours labor. I went back to the guy who hit me, as he asked me to before involving insurance, and requested $1,600 cash - he agreed.

That payment covered a new steel bumper, shipping, powder coat, and two Baja Designs squadron sport reverse lights. I ripped off the crumpled OEM components and installed the new bumper myself, because I am a manly man.

Cheers!

 

No wait! Do what?