AAA and salvage cars? - Camaro5 Chevy Camaro Forum / Camaro ZL1, SS and V6 Forums

Synerbee · 09-28-2010, 04:08 PM

I was wondering what is their policies about salvages cars. How much will someone get if it is in an accident.

2010SSRSM6 · 09-28-2010, 07:24 PM

Call your insurance company. They have a formula that they should give you so you don't over pay for a salvaged title car. I was told several years ago that it is typically less than 50% value of a non salvaged car.

Synerbee · 09-29-2010, 01:45 AM

Quote:

Originally Posted by 2010SSRSM6

Call your insurance company. They have a formula that they should give you so you don't over pay for a salvaged title car. I was told several years ago that it is typically less than 50% value of a non salvaged car.

I checked and they said they cover up to 40%. I checked KBB and they said 29,750 for all the options but it is a 2010 SGM and I don't know if that also increase the price because of the SGM package

SA CHEVY · 09-29-2010, 02:14 PM

Well I purchased a salvage truck a few years back and it was insured for about 40% initially if I remember right...IMO I wouldn't go salvage unless you're getting a heck of a deal on it.

Synerbee · 09-29-2010, 09:34 PM

Quote:

Originally Posted by SA CHEVY

Well I purchased a salvage truck a few years back and it was insured for about 40% initially if I remember right...IMO I wouldn't go salvage unless you're getting a heck of a deal on it.

how 18,00 for an 2010 synergy edition, automatic, sunroof and new rims?

IROCanSS · 09-29-2010, 09:37 PM

a tad too high, when buying salvage, you want to get them for about 50% of their value... Its a 14K-16K car tops depending on mileage and quality of repair...

But you need to also look at WHY it was salvaged. Was it hit by a train? Did it flood? Is the frame bent? All these need to be considered.

Synerbee · 09-29-2010, 09:51 PM

Quote:

Originally Posted by jrhaus76

a tad too high, when buying salvage, you want to get them for about 50% of their value... Its a 14K-16K car tops depending on mileage and quality of repair...

But you need to also look at WHY it was salvaged. Was it hit by a train? Did it flood? Is the frame bent? All these need to be considered.

I will try to see if the guy will change his price
No frame damage, miles, got hit in bumper set off airbags still trying to get a VIN to double check because sounds odd to be salvage after just that

rdono · 10-01-2010, 09:56 PM

A vehicle is declared a total loss when the estimate reaches a given pre set percent of ACV (Actual cash value). Each carrier uses different figures, most all are between 50 & 70 percent, the reason for such is two fold, first salvage value (which cuts into the lost to them after they pay the insured off) and the fact that in a heavy impact (air bags deploy) they know that more (hidden) damage may be found and add to that the repair time and rental expense.

Now a salvaged titled vehicle will have a strong diminished value because most likely it was not repaired properly. The repair person purchased the vehicle and has to take every possible short cut (used parts, not repairing all damages and making lower quality repairs) in order to make a profit above his labors.

In my professional opinion, I would stay clear of any salvaged vehicle unless I knew who made the repairs and had a personal relationship with them. And I would also not pay more that 50 percent of the Fair Market Value. You may have difficulty with financing if needed and possibly insurance coverage, chances are you wreck it it is total as no insured wants to rebuilt something that was once "beyond repair". Exercise great caution. IMHO

09-28-2010, 04:08 PM	#1
Synerbee SoCal Headturners Drives: 2010 SGM Join Date: Mar 2010 Location: Anaheim Hills, California Posts: 5,788	AAA and salvage cars? I was wondering what is their policies about salvages cars. How much will someone get if it is in an accident.

09-28-2010, 07:24 PM	#2
2010SSRSM6 Drives: My wife crazy with my C5 usage. Join Date: Apr 2009 Location: DFW Posts: 6,553 View My Garage	Call your insurance company. They have a formula that they should give you so you don't over pay for a salvaged title car. I was told several years ago that it is typically less than 50% value of a non salvaged car. __________________ UNDER CONSTRUCTION......again......

09-29-2010, 02:14 PM	#4
SA CHEVY "HILLARY" Drives: "HILLARY" :D Join Date: Mar 2010 Location: Bakersfield Posts: 1,922 View My Garage	Well I purchased a salvage truck a few years back and it was insured for about 40% initially if I remember right...IMO I wouldn't go salvage unless you're getting a heck of a deal on it. __________________ 2010 Camaro SS2 L99 Aircharger, Straightpiped, DT long tubes, Dyno tune by Cal Speed 384 HP & 392 Ft/Lbs. 13.203 @ 107.13 mph at Camaro5FestII

10-01-2010, 09:56 PM	#8
rdono Cavallino Drives: 2010 SS/RS IMO-IMO Join Date: Apr 2009 Location: Palo Alto Posts: 211 View My Garage	A vehicle is declared a total loss when the estimate reaches a given pre set percent of ACV (Actual cash value). Each carrier uses different figures, most all are between 50 & 70 percent, the reason for such is two fold, first salvage value (which cuts into the lost to them after they pay the insured off) and the fact that in a heavy impact (air bags deploy) they know that more (hidden) damage may be found and add to that the repair time and rental expense. Now a salvaged titled vehicle will have a strong diminished value because most likely it was not repaired properly. The repair person purchased the vehicle and has to take every possible short cut (used parts, not repairing all damages and making lower quality repairs) in order to make a profit above his labors. In my professional opinion, I would stay clear of any salvaged vehicle unless I knew who made the repairs and had a personal relationship with them. And I would also not pay more that 50 percent of the Fair Market Value. You may have difficulty with financing if needed and possibly insurance coverage, chances are you wreck it it is total as no insured wants to rebuilt something that was once "beyond repair". Exercise great caution. IMHO __________________

09-29-2010, 09:37 PM	#6
IROCanSS Account Suspended Drives: 89 IROC 350 Join Date: Mar 2009 Location: Back roads, southern Ohio Posts: 12,504 View My Garage	a tad too high, when buying salvage, you want to get them for about 50% of their value... Its a 14K-16K car tops depending on mileage and quality of repair... But you need to also look at WHY it was salvaged. Was it hit by a train? Did it flood? Is the frame bent? All these need to be considered.