dedliyeti

Hey guys,

Been browsing this site ever since I was interested in getting my own Scion FR-S, and finally figured I would join and post.

Well, my first post is a grim one. 2 nights ago, my parked car was rear ended, leaving me pretty upset and angry that shes not even 3 weeks new, and I'm dealing with insurance and rental and cost of getting it fixed... its not a welcoming experience as a first time new car owner.

My car was parked right out side my room (I live on the 2nd floor) that night. At 7pm I hear a loud *CRASH* outside the window, and instantly felt my heart sink. Upon looking out, I see this Kia Rio in my parking spot, and my car being flung into the street.

Damage seems to be pretty bad, although I'm not sure if its close to being totaled or not. The trunk got smashed in, reflector lights at the bottom knocked out, muffler all jacked up, driver side rear tire looks like it got pushed in, big dent in the body above the driver side wheel... havent had the heart to look under the car just yet. The guy who hit me.. both his airbags went off, his hood is accordioned in, and judging by the sound of the crash, must have been going 30-40mph before he hit my car.

Obviously this guys insurance is going to pay for it, as my car was parked. Does anyone have any experience with this? I know its hard to say, but how much damages might be? Its not drivable, as some of the frame is jamming into the rear driver side tire. Just the rear is messed up... nothing in the front was touched.

Any info or advice would be greatly appreciated. The one thing I fear is that once frame damage is done, the car will never drive the same again, even after repairs. Kind of hoping its totaled so I can get a new one.

Thoughts?

Thanks guys

FreedomPenguin

Totaled. Hope they pay you sticker price and no depreciation.

dedliyeti

Hoping it was totaled too so I could get a new one. What makes you think that it would be totaled though? I finally managed to get underneath it and it doesnt look all too bad, but hard to tell. Muffler is definitely bent at around the middle of the car. Bumper frame is jacked up too.

What parts could have gotten hit that would make it totaled so easy?

FreedomPenguin

Our cars have a lot of airbags. They cost a ____ ton, chances are frames bent. Actually if it's not I'm surprised, pulling frames cost a lot to straighten out without risking integrity. If you got hit again, would it be as safe as before? A lot of work it takes to make it safe again.

Totalled.

PRODIGY3000

WHY GOD!?!?!


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dedliyeti

Had the insurance estimator come out and look at the car. First look she said "totaled". After we managed to get the spare tire out, you could clearly see the back end just getting creamed in.

So thats some good news... get to get another one. This time I might go for black...

FreedomPenguin

Told ya.

realslick

Poor frs/:

FRS_Goose

the curse strikes again.

we can rebuild it! better, faster, stronger. :D

draxcaliber

Really bad luck. Unfortunately, nobody will owe to pay you sticker price on your car, yes it is only 3 weeks old, but the moment you drove it off the lot, it became used, so you get the value of a used FRS based on mileage. Unless you have replacement cost on your own policy for when your vehicle is totalled.

If the vehicle isn't totalled, have it repaired, then claim against them for diminished value (you'll need to hire an independant appraiser to do this) and then sell the car and buy another one.

Lastly, if you can help it, DO NOT PARK YOUR CAR ON THE STREET! It is just far to vulnerable as you have just learned.

criminaltc

It's called gap insurance.

draxcaliber

GAP Insurance applies to when your car is a total loss and it appraises for less than the amount you've financed for the loan due to depreciation mostly due to mileage. It will NOT cover deductions made to the value of the vehicle due to wear and tear, unrelated damage or missing equipment.

Replacement coverage means that instead of getting the depreciated value of your vehicle for a total loss, you get paid the value of a current model year similiarly equipped vehicle.

pyroman131

REDACTED

criminaltc

What are you talking about?? We just learned that the car is a total loss. Gap applies, and he shouldn't owe anything on his loan.

pyroman131

REDACTED

draxcaliber

Again, GAP covers the difference between what the car appraises for, and what the amount of his finance loan is if he is over financed and the appraised value from the insurance company isn't enough to cover his loan for the vehicle. So while his loan will be paid off, he isn't getting the equivolent of a new car because he is left at square zero with no money no car. The reason being is that no matter how new your car is, and believe me, i've appraised cars with only 85 miles on them when my customer smashed into a taxi cab, the car is considered used as it has been titled to a new owner and driven off the lot.

Unless you have replacement cost coverage, the insurance company does not owe you the value of a new version of your car.

criminaltc

Yes he was diagreeing with me?

And Drax, I would never think that they would give him more money on top of his loan for a new model? We're talking the car sitting in front of him and what it is worth. Now, while you are correct about your GAP definition, you aren't adding one little thing. GAP covers a certain percentage that is quite generous. So if the value of the car goes too low, that way you still can have your loan covered completely. If someone has GAP, they aren't usually put in a position to have to worry about paying the rest of their loan after insurance and GAP kicks in. With GAP, they allow the estimated value to go so low that no one ever goes below that amount to have to then owe more on their loan.

draxcaliber

The insurance company only owes the value of the property destroyed in the loss. They don't owe him a new car. I'll try to use an example here using rounded numbers for easy math.

The original poster bought a brand new FRS for about $25k dollars. Lets say he put $2k down, and financed the remaining $23k. He ownes the car a few weeks, puts some miles on it, and then this accident happens. Insurance company comes out, and appraises the car. Say they appraise it for $22k due to depreciation for the vehicle being now used, and having a few hundred to a thousand miles. Insurance would pay the 22K dollars, GAP would pay the $1000 difference between what the loan and the vehicle appraisal, and the original poster would be left with no car, no loan, but now he is also out the $2k he used as a down payment on his car. The insurance company does not owe him the $2k he lost as his down payment on his new car. It is gone. I know it is cold and sad, but it is the way it is.

If he had replacement coverage on his own policy for his car, his insurance company would pay him 25k which would cover the value of the vehicle, his loan, and the 2k he put down basically, but that doesn't seem to be in effect here.