Truck Totaled - Buy it Back?

wesinls said:
  I could have gone through my insurance company, paid a deductible, then would have had to fight to get my deductible back etc
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Usually if you use your own insurance company (maybe a better offer) they will subrogate back to the other company and collect your deductible as well. Most times, MOST TIMES, the other insurance company will pay the bill no questions asked and do it a timely manner. 

 
This is a no-brainer to me.  You need a commuter vehicle.  By definition, a commuter truck gets the living driven out of it, and when done, it has a bazillion miles on it and is not worth much.

Drive this truck for as long as you can stand it.  In the mean time, make payments to yourself and save up for your next truck.

 
3rd thought, take the truck to a repair shop and get another estimate to fix it and show that to the insurance company tell them you want it fixed. Taking the claims adjuster $# doesn't always show the true repair cost. It could be well under/over. Also get some COMPs for equal trucks for sale to prove a resale value (like Carmax or truecar via your VIN #), they may hit you with the low low KBB#.

 
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What's funny so far - I paid 28k out the door for my truck in 2018 - comps of same truck with similar mileage - 25k - plus tax ~ 27k is what would be an average payout.  I sent an excel file to the insurance company this morning.  Hoping for the best - which currently my plan would be - to get ~20k, and buy back truck for ~5k.  I should know more in a day or 2 and will report back.

 
Geico started at 22k and after some back and forth - they ended up giving me 25,200...not bad for a truck I paid 28k for 6 years ago.  They wanted 7K to buy it back and I ended up passing on it....seemed like too much as I'd have to put another 2k into it...kind of nice to just move on.

If anyone has a decent commuter for 5k they want to sell let me know!

 
wesinls said:
Geico started at 22k and after some back and forth - they ended up giving me 25,200...not bad for a truck I paid 28k for 6 years ago.  They wanted 7K to buy it back and I ended up passing on it....seemed like too much as I'd have to put another 2k into it...kind of nice to just move on.

If anyone has a decent commuter for 5k they want to sell let me know!
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You could've pocketed $15k and it still drives? 

 
Insurance companies total cars because it is easier. The number of claims for ANYTHING that goes wrong with a repaired car are staggering.  It sucks for a lot of people, but there are so many people that have no problem lying and claiming stuff that isn't related ruins it for everyone.   

Once the insurance company fixes the car, they are married to it, especially if it is a significant hit. Not worth it in the long run. 

People file sand damage claims on cars from the Coachella valley all the time..... 80k miles of living in the desert and EVERY chip and scratch on the car is new and from a sandstorm...... it's insurance right.... it's free money.  

 
People suck....  

And it baffles me when they bitch about how expensive sheet is and how dumb laws are.....  idiots... 

 
Kraut_n_Rice said:
You could've pocketed $15k and it still drives? 
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ya....somewhat - but check engine light came on, airbag lights (tho no airbag deployed) - so not really exactly sure what all was needed.  It could have cost me 2k to fix, but could have been up to 3 or 4k...im still torn if i made the right choice - but i have a lot of projects I'd rather work on in the next few months than fixing the truck.

 
I’ve known some who have bought a vehicle back fixed it came out ahead. But salvage title although wasn’t an issue to them as they planned to drive til wheels fall off or was a tow vehicle. 
 

neither had plans on selling so wasn’t an issue. 

 
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