A co-worker’s car was just totaled. He was 100% not at fault because the car was parked legally and one of his neighbors plowed into it.
The insurance company is having him make arrangements to junk it and the place they suggested is giving him $200 for it. 99 Plymouth Breeze with 100xxx miles, hit on the driver’s side front. From the pictures looked like fender, hood, bumper and radiator or trans cooler damage.
My question is with the really high price of metal and the fact that this car could be rebuilt is he getting ripped off for $200? He has zero mechanical skill so buying it back and fixing it himself is out of the question.
scrap parts cars are scrap parts cars… their value @ a junkyard is really low, especially for a 99 plymouth breeze which is neither rare nor valuable, especially with 100k miles… which means the engine/trans are worthless
because its not scrap steel… its a car… and alot of proccessing and time needs to be had before you would get 1500lbs of steel… that and they are the market… if you dont want 200 bux for the car. they know that they are the only way to get rid of the car, so they can offer you whatever they want…
besides, if they offered him say 1k… what would stop you from going out and buying several 2-500 dollar cars that are “running” and just junking them for 1k…
I had 1000lbs. of scrap metal from a few parts cars, think I got something like $75 for it. Call Metalico, they’ll tell you the going rates for metal, aluminum, copper, etc…I called them last week, I think it was like 6 cents/pound for metal and 59 cents/pound for aluminum.
It’s a little strange, at least from what I’ve seen from other people with dealing with totaled cars.
It was towed to some shop where the other person’s insurance company went to see it. They declared it totaled and told my co-worker yesterday he has until the end of day Wednesday to do something with it or he will be responsible for storage fees starting Thursday. So he’s getting a check for around 3k for the car, plus what ever he can scrap it for.
But doesn’t the insurance company basically own the car once they give you a check for the appraised value? Shouldn’t they be junking it? Could I just go get the car and tow it to my house, repair it, and resell it as a salvage title?
The vehicle should be issued a salvage title, and usually the insurance company handles everything. Never heard of them having the owner deal with it like this.
Yeah, it seems very backwards to me. As long as $200 seems fair though he probably doesn’t care.
Seems pretty shitty that they’re giving him 3k for it when KBB dealer retail is 4100. To me if someone totals your car through no fault of your own insurance should give you enough money to buy the same car you had before the accident.
The proper way this is done is that the title gets signed over to the insurance co. then the ins. co. gives you a 907A (salvage cert. which becomes the ownership doc.). its amazing how many ins. co. have no idea how it is supposed to work. Call twin village or R&R salvage and see what they will give you. I would think more than 200