I was in a car accident back in December, an SUV clipped me on the freeway as they tried to merge onto my lane, causing me to spin out and hitthe freeway wall.

My Passenger rear end quarter panel hit at about 70mph.
THe suspension was bent as well as the frame,
one of my tries (wheels) was shattered and replaced at the scene, I was able to drive the car to my mother's home.

I've been dealing with insurance for almost 2 months now,
at first they stated the repairs were estimated at $6,000 and they planned on repairing the vehicle, the body shop however took apart the car and estimated the repairs to be exact at aboput 10,000-11,000$

The Insurance company has since told me that it is a total loss and will be paying out the vehicle at it's value.

I only owe $10,900 on the vehicle.

I work for a bank and we use NADA instead of KBB for vehicle auto values for loans and such, and NADA values my vehicle at $15,800 almost $16,000

THe insurance company is trying to give me $13,000 for the vehicle.

What can I do to get the actual value of the vehicle?

It's a WHITEwater Pearl RX8, Model year is 2005.
It ONLY has 54,000 miles on it.
Sports package, with a 6 Speed Transmission and Sun Roof.
Alloy Rims, and all the recalls ont he vehicle have been taken care of.
Black/Grey Interior.

My Car is in great condition (well was, before the accident)

Most RX8s 2005 in my area go for 13,900-16,900

How can I make sure the insurance gives me the total value of the car.

One more thing, My friend wants to buy it back and fix it himself, he asked me to ask them about the buyback value, do any of you know what that means? what that entails, buying it back?

 

Well arguing what your vehicle is worth just depends on how difficult your insurance company is going to be. Print out some info on similar in mileage and year private sale RX8's and average them. you will never get suggested resale price, just what you could have gotten in a private sale and that is debatable. What people think their car is worth and what it is actually worth are two different things. Then request that amount from the insurance company. Likely they will deal. I helped a co worker recently on his totaled 2004 Dodge Ram pickup and we were able to get about $2500.00 more than they were originally offering.


But, 15k+ for a 2005 Touring is just crazy talk. My buddy just bought a mint 2009 R3 with less than 10,000 miles for $20,000.00.


It really depends on the insurance Company, some of the smaller companies have claims reps who have no decision making power and rely solely on company procedures and set guidelines. Other companies have full fledged adjusters who have check writing abilities up to a certain amount. They will also take into consideration your history as a customer.

And, as far as your friend buying it, well that will depend on the company and state guidelines as well. Some companies do not allow this.