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1991 White Reatta Totaled-Should I buy back for resale of parts?


kleino

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I had a 1991 White Reatta with blue leather interior that was in immaculate condition and involved in side collision. Because of parts and age they totaled it. I am furious as they only offered 5,500 for settlement. I can buy back for resale of parts plus towing fee. Do you think it would be advisable and how would you suggest selling? Even had special rims and low mileage with twice frequency in oil changes. Everthing but outside on drivers side in excellent conditon. Extra cd with remote had installed. Please let me know what you think ASAP as they are calling me in the afternoon 3-9-05. Thank you from a previous owner and proud of it. Have no idea what to purchase now and it will never be the same as my Reatta.

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Guest Greg Ross

Mike has mentioned previously that CPI (Cars of Particular Interest) are what you should use for reference. He's mentioned Insurance Adjusters are familiar with the publication, and of course since they're being paid by the insurance company it's their first loyalty to settle low using Blue Book, whatever for average valuations.

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First you must determine what you want to do....

How badly was it wrecked? I saw pictures of Nic's car and a door and fender will fix it, there is no structural damage.

Get them to give you the best settlement price, then ask if you have the option of purchasing it. At what price? Run the numbers and determine what is best for you.

Condition is important but a low mileage car will help leverage the price.

I know of a 108k 1991 red coupe that is available for $5000 in good condition.

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Guest Reatta1

$5500 is nowhere's near enough for a low mileage 91. Don't let them sucker punch you. If you have to, get a 'special interst car' appraisal of it's pre-wreck value. And DON'T let them rush you into a settlement. That is how insurance companies try to screw the client.

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1. I agree with the others. $5500 is LOWBALL!! But, don't be surprised--the adjuster is just that--ADJUSTING the costs to his employer (the ins. company) to as little as possible. What, did you think he worked for YOUR best interest?

2. The CPI guide is just that--a guide. I used CPI when getting USAA to go from $2300 to about $9000 for my '72 El Camino SS when it was totalled. However, a BETTER way to go is to use actual sales figures. That means someone was actually willing to PAY a specific price for a car like yours. Adjusters will quickly tell you that price guides are just that--guides. That doesn't mean the car will actually SELL for that price. The other problem with guides is this--you find a high value in one guide, and I will find a guide with a ridiculously LOW value. Sales figures are much more definitive proof. You know, like the kind that will stand up in COURT in front of a JUDGE? Yeah, THAT gets their attention!

Good luck!

Joe

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