I have a 2000 Lexus es300 with 200k miles. I was parked on the side of the street and It was backed into about a year ago and with Covid Geico finally got around to looking at it. The front drivers fender and turn signal lighting is broken plus the headlight has a broken tab and the hood is bent. There may or may not be more damage once the bumper is taken off Ect. Anyway Geico totaled the car. They say it’s worth about $1700 which seems accurate. I’m going to keep the car but I will have to buy it back from Geico. So I may get $1000-1300 from it. Does this seem fair or should I get Geico to try and not total the car? Car runs great drives fine ect. It’s all cosmetic damage.
I need some car insurance accident advice
- Thread starter joegreen
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accurate in todays market or last years?
I have found everything is negotiable. But I doubt you will be able to stop Geico from totaling out the car.
It's a numbers game. They will pay for the lowest (and easiest) option.
But you can ask.
It's a numbers game. They will pay for the lowest (and easiest) option.
But you can ask.
I don’t care if the title it salvaged. I don’t plan on selling the car. We have had it since new and it’s very reliable and easy to maintain. I don’t mind buying it back from Geico I just wanted to make sure I wasn’t overlooking something.
It was looked at be Geico within the past month
gathermewool
Site Donor 2023
So…what about that potential additional damage?
I think you are making a good decision. I would try and low ball Geico on the buy back price and then find a decent local shop to do requisite repairs.
You know the car and you like the car. Keep 'em alive, I say!
Try and negotiate the buyback amount down. Tell them you aren’t requiring a rental car, no storage or tow fees for them, etc.
Just saying used car prices are silly at the moment, not sure if Geico is using current prices to asses value.
If they total it it will become a salvage title, check with NY laws on what all you need to do to get the car road legal as far as the title / registration goes, that could be a pain in some states and I think is one of them.
Usually the state's highway patrol will have to fully inspect the vehicle to get a "rebuilt salvage" title after repairs are made.. In my state, it is not a cheap inspection.
Oh that sounds terrible
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