Devastated
12-20-15, 07:40 PM
#27
I would like to take your hatch if you want to part out 
After talking with progressive I feel slightly relieved...they said if it is considered totaled they try to find the value a dealership in the area would sell it for and that I would also be able to buy my car back at auction price. I am going to fight for 17k at the very least. I should hear back tomorrow with an update so I will keep you guys posted. At this point I'm hoping for totaled purely because I'm worried about the structural integrity and balance of a repaired front end... If that is the case I plan on buying the car back and finding a roller in good condition to throw my engine in. I should also be able to afford an older miata to DD 
Either way I will be back into the FD game, I am in love
Either way I will be back into the FD game, I am in love
12-22-15, 07:09 AM
#30
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My experience is that you don't really get to push one way or the other on 'if' they total it or not.. Their adjusters will get some numbers on getting it back and then it becomes academic.
Sorry for your loss man, it looks like you have a lot of heart, love and $$ into that car. Great job on it too, beautiful ride!
Does anyone have any idea of how good State Farm is on these situations? I'll put a call in and check but I'm finally at a point where my FD is where I want it and I have WAY more than 'retail' into it...
Thanks and sorry again!
Sorry for your loss man, it looks like you have a lot of heart, love and $$ into that car. Great job on it too, beautiful ride!
Does anyone have any idea of how good State Farm is on these situations? I'll put a call in and check but I'm finally at a point where my FD is where I want it and I have WAY more than 'retail' into it...
Thanks and sorry again!
12-22-15, 07:13 AM
#31
Original Gangster/Rotary!
iTrader: (213)
^Get collector's insurance. Standard insurance won't provide enough value for a nice/low mile/modded FD so in the event of an accident the car gets totaled out very easily.
12-30-15, 11:46 AM
#33
Full Member
Thread Starter
I was recently contacted from the other drivers insurance company and they compared my car to 2 others found in different dealerships and estimated the value of the car to be 20,400. Waiting to hear back from them about the Maheim auction price that I could buy the car back for. Still waiting to hear back from my insurance rep on what they will estimate the value to be..
My big decision comes down to either buying another FD with around the same mileage or spending the money on getting my car fixed.. I would love some opinions on what the best choice of action is, I'm leaning towards fixing and updating to 99 spec and possibly upgrading the turbos. Is getting a new front section of frame rail possible?
My big decision comes down to either buying another FD with around the same mileage or spending the money on getting my car fixed.. I would love some opinions on what the best choice of action is, I'm leaning towards fixing and updating to 99 spec and possibly upgrading the turbos. Is getting a new front section of frame rail possible?
01-01-16, 07:19 AM
#35
They are going to struggle to establish wholesale value through Manheim, because very few FD RX7s go through auction. In the last six months there have been four. 34k miles for $21,100, 44k miles for $17,500, 51k miles for $14,900, 73k miles for $13,200, all shown as "average" condition so obviously not accident damaged.
01-04-16, 08:13 PM
#36
Constant threat
Guys...... check out Best Collectors Insurance Companies | Classic Car Insurance Rates & Quotes | Americans Collectors Insurance | www.americancollectors.com | American Collectors.
I have three (yes three ) FDs insured with them, all about $21k in agreed value with zero deductible and low miles driven each year (about 1-3k per car)..... my premium is right around $1000 for all three.
You can't beat it. A friend recently had an unfortunate single car accident in his FD with American Collectors and they 100% took care of him. Paid in full to have the car fixed and avoided having it totaled. Car is better than new.
Another friend has an agreed value with them for $35k on his FD and pays maybe $500 per year in premium.
Only reason I haven't upped my agreed value is I need to take the time to round up receipts and take pics over the winter.
You can also add more mileage, I believe the 'standard' insured annual mileage is 5000. You need to have the car garaged and have a daily driver.
American is MUCH easier to work with than Hagerty, Grundy etc in my experience.
If you'd like to be referred to my agent (I believe they may give an additional discount) shoot me a PM and I'll put you in touch
I have three (yes three
) FDs insured with them, all about $21k in agreed value with zero deductible and low miles driven each year (about 1-3k per car)..... my premium is right around $1000 for all three.You can't beat it. A friend recently had an unfortunate single car accident in his FD with American Collectors and they 100% took care of him. Paid in full to have the car fixed and avoided having it totaled. Car is better than new.
Another friend has an agreed value with them for $35k on his FD and pays maybe $500 per year in premium.
Only reason I haven't upped my agreed value is I need to take the time to round up receipts and take pics over the winter.
You can also add more mileage, I believe the 'standard' insured annual mileage is 5000. You need to have the car garaged and have a daily driver.
American is MUCH easier to work with than Hagerty, Grundy etc in my experience.
If you'd like to be referred to my agent (I believe they may give an additional discount) shoot me a PM and I'll put you in touch
Thanks for this info! I looked in to Hagerty a year or two ago and was dismayed at all the 'restrictions' they had in regards to mileage.
01-05-16, 11:51 AM
#37
Full Member
Thread Starter
They are going to struggle to establish wholesale value through Manheim, because very few FD RX7s go through auction. In the last six months there have been four. 34k miles for $21,100, 44k miles for $17,500, 51k miles for $14,900, 73k miles for $13,200, all shown as "average" condition so obviously not accident damaged.
A) The offer I made you Monday which is to pay you for the Total Loss @ $20,418.67 in exchange for the vehicle title
B) I pay you for the total loss, process the title as a rebuildable title which I would send back to you, and you retain ownership of the vehicle. If we do this I would be paying you the market value of $19,262.90 (I do not owe for sales tax if you retain the vehicle) - $5,000.00 (what I would expect to get at auction for the vehicle) = $14,262.90
C) I pay you for the repair estimate (attached to the email) of $11,844.37 and 12 days loss of use (rental) @ $30 a day in exchange for a Property Damage Release. I calculate the loss of use time based on the estimated 46.5 hours to repair / 4.5 hours a day that a technician would spend on the vehicle = 10 days. Plus 2 days for a weekend when the shop is closed = 12 days.
I'm between B and C..
01-05-16, 12:10 PM
#38
I'm not sure if you're asking for an opinion... but I would go with B.
A is obviously the cleanest path. Get money, buy a new FD (...and you might be able to talk them into letting you swap wheels for stock). $20K will get you something equal if not better then what you have. Add some cash on top and you can have something really special. Nothing beats cash in hand.
C is a risk. If that repair estimate isn't spot on, you're going to be on the hook. Once those papers are signed and the check cut, all bets are off.
B, however, puts you in the best financial position and keeps all your options open. You can pocket the $14K and get waaaaay more then $5K out of the car if you decide to part it out. Downside being the time investment to actually part it. You can also put that $14K into fixing it however you want (99 spec conversion?). However, you still do run the risk of having the repair bill creep up like in scenario C.
Personally, I would be stuck between A & B at this point and leaning towards B.
All that said, this seems like a much better scenario then what you were initially expecting, so kudos on that.
A is obviously the cleanest path. Get money, buy a new FD (...and you might be able to talk them into letting you swap wheels for stock). $20K will get you something equal if not better then what you have. Add some cash on top and you can have something really special. Nothing beats cash in hand.
C is a risk. If that repair estimate isn't spot on, you're going to be on the hook. Once those papers are signed and the check cut, all bets are off.
B, however, puts you in the best financial position and keeps all your options open. You can pocket the $14K and get waaaaay more then $5K out of the car if you decide to part it out. Downside being the time investment to actually part it. You can also put that $14K into fixing it however you want (99 spec conversion?). However, you still do run the risk of having the repair bill creep up like in scenario C.
Personally, I would be stuck between A & B at this point and leaning towards B.
All that said, this seems like a much better scenario then what you were initially expecting, so kudos on that.
Last edited by MattGold; 01-05-16 at 12:12 PM.
01-05-16, 12:27 PM
#39
I second Matt on option B. You could make a small fortune on the part out, the community could use these parts as our supplies on various parts are running thin and you still have a good chunk to put at a nice FD. Down side one less FD in the states and you'll have to window shop for a while to find a nice one with all the stuff you really want...
Either way things are looking good for you and you weren't seriously injured which is the best part! Sorry for the loss I'd be a little hurt inside if I were in that position lol.
Either way things are looking good for you and you weren't seriously injured which is the best part! Sorry for the loss I'd be a little hurt inside if I were in that position lol.
01-06-16, 05:14 PM
#44
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You have progressive?
im in a similar situation. some lady tried to pass on via going into the oncoming lane, but she came up short and hit me, and spun me into a parked truck. my car is also in much worse shape than yours is, so im sure its totaled. im pretty worried on what they are going to offer as far as a pay out. i feel your pain man, if i were you i would do options b and find a roller, but ive been having a hard time finding a clean roller. goodluck with that part. keep us posted on everything!
im in a similar situation. some lady tried to pass on via going into the oncoming lane, but she came up short and hit me, and spun me into a parked truck. my car is also in much worse shape than yours is, so im sure its totaled. im pretty worried on what they are going to offer as far as a pay out. i feel your pain man, if i were you i would do options b and find a roller, but ive been having a hard time finding a clean roller. goodluck with that part. keep us posted on everything!
01-07-16, 07:56 AM
#45
01-07-16, 08:22 AM
#47
Full Member
Thread Starter
You have progressive?
im in a similar situation. some lady tried to pass on via going into the oncoming lane, but she came up short and hit me, and spun me into a parked truck. my car is also in much worse shape than yours is, so im sure its totaled. im pretty worried on what they are going to offer as far as a pay out. i feel your pain man, if i were you i would do options b and find a roller, but ive been having a hard time finding a clean roller. goodluck with that part. keep us posted on everything!
im in a similar situation. some lady tried to pass on via going into the oncoming lane, but she came up short and hit me, and spun me into a parked truck. my car is also in much worse shape than yours is, so im sure its totaled. im pretty worried on what they are going to offer as far as a pay out. i feel your pain man, if i were you i would do options b and find a roller, but ive been having a hard time finding a clean roller. goodluck with that part. keep us posted on everything!
01-07-16, 09:55 AM
#50
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YEP
Even if you don't have the time to part (which is some serious work) take option B and sell the wrecked car for at least 7500 and more likely 10k depending upon condition and aftermarket parts etc....
Good luck