Wrecked!
Senior User
Joined: Mar 2009
Posts: 392
Likes: 1
From: Middletown NJ
I know that bumper does look ugly, but that is a road armor bumper, no way is that thing a joke! Yes I know the frame damage chances go up, but thats in a high speed accident in most cases against an unmovable object, where there would already be major damage. And I never said he should lift his truck, I merely put up a picture where the truck happened to be lifted, but the point was the bumper.
Logistics Pro
Joined: Aug 2007
Posts: 3,974
Likes: 18
From: Millersburg, OH
Kerri don't worry about the truck. Like tseekins said you made 10K! But seriously rest and recover and before you know it you'll be back to normal.
BTW you need to post pics of the F350 you like. We'll help "convince" Tom into getting it.
BTW you need to post pics of the F350 you like. We'll help "convince" Tom into getting it.
Cargo Master
Joined: Dec 2007
Posts: 2,822
Likes: 0
From: Minnesota
Sorry to hear of the total. But it sounds like ya got a fair deal from Insurance! The only time I had a truck totalled I ended up losing about $7000 because my truck had high miles, but to replace it I paid almost $10000 more than Insurance paid me! The most important thing is that Karri is OK!
Hotshot
Joined: Aug 2006
Posts: 17,399
Likes: 318
From: Whittier, CA
Total estimate the Geico adjuster came up with was just under $28,000 to restore to pre-loss condition.
On the bright side the appraised actual cash value is actually higher than I originally paid for it brand new. I bought it new 15 months ago for $35,000, and the insurance company appraised it at $38,269. Add to it the credit for sales tax on the appraised amount, subtract my $500 deductible and my total settlement is going to be $40,266. I only owe just over $30K so I'm going to come away from this with $10K just because of the inflated value of the truck.
On the bright side the appraised actual cash value is actually higher than I originally paid for it brand new. I bought it new 15 months ago for $35,000, and the insurance company appraised it at $38,269. Add to it the credit for sales tax on the appraised amount, subtract my $500 deductible and my total settlement is going to be $40,266. I only owe just over $30K so I'm going to come away from this with $10K just because of the inflated value of the truck.
Logistics Pro
Joined: Aug 2007
Posts: 3,974
Likes: 18
From: Millersburg, OH
Because they probably can get $7K-$8K salvage for it. With a $28K estimate you need to factor in a creep value once they actually tear into it (probably another $2K-$3K) so you add all that up and you at or over $38K.
Cargo Master
Joined: Nov 2004
Posts: 2,751
Likes: 3
From: So Oregon
Also, the insurance company is counting on a supplement (additional damage found once the repair begins) of probably some amount, i.e., 10%. So, a $28k estimate means over a $30k repair (by the time it's complete). So, they figure they've got $30k+ in repair and they could pay out $38k. If the insurance company can get $8k for the salvage they're ahead.
Junior User
Joined: Oct 2009
Posts: 62
Likes: 0
Glad to hear your wife is ok and sorry to hear about the loss of the truck. You stated "Add to it the credit for sales tax on the appraised amount,"
What is this? My 03 F250 was totaled 3 months ago from an F350 hitting me in the rear going 50-60 mph (I was stopped in traffic) and I got $15,400 for the settlement. Could someone explain this "credit for sales tax".
Andre'
What is this? My 03 F250 was totaled 3 months ago from an F350 hitting me in the rear going 50-60 mph (I was stopped in traffic) and I got $15,400 for the settlement. Could someone explain this "credit for sales tax".
Andre'
FTE Leadership Emeritus
Joined: Sep 2000
Posts: 23,174
Likes: 1,678
From: Stephensville WI
Thanks guys. I guess this whole experience has been so frustrating. Not being able to remember a lot of the accident and having a 100 people ask me over and over why I don't remember a lot of the accident is driving me up a wall because I sit here most of the day trying to figure it out. I hate being so useless right now and on top of it, we have an infant son who I can't pick up and I can't drive or lift anything and I'm slowly going crazy but I'm trying to remember to behave so I can heal quicker. Tom has been great, hes been very patient with me and every time I tell him how sorry I am he tells me to stop and that the most important thing is that he still has me. I just feel horrible, when we found out about the truck today he just looked so disappointed.
We did go to the Ford Dealership today and looked at some trucks...hehe this wife has her heart set on the F350 Diesel we looked at
Karri :-)
We did go to the Ford Dealership today and looked at some trucks...hehe this wife has her heart set on the F350 Diesel we looked at
Karri :-)
Stuff happens. Don't beat yourself up. The important thing is you are OK. No one was hurt seriously.
Trucks come and go. We wear them out, wreck them or dispose of them when they no longer meet our needs. Yes, you wrecked it. It will be replaced and you have a story to tell the grandkids some day.
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Posting Guru
Joined: May 2003
Posts: 1,362
Likes: 2
From: Juneau, ALASKA
Glad to hear your wife is ok and sorry to hear about the loss of the truck. You stated "Add to it the credit for sales tax on the appraised amount,"
What is this? My 03 F250 was totaled 3 months ago from an F350 hitting me in the rear going 50-60 mph (I was stopped in traffic) and I got $15,400 for the settlement. Could someone explain this "credit for sales tax".
Andre'
What is this? My 03 F250 was totaled 3 months ago from an F350 hitting me in the rear going 50-60 mph (I was stopped in traffic) and I got $15,400 for the settlement. Could someone explain this "credit for sales tax".
Andre'
Posting Guru
Joined: Oct 2009
Posts: 1,008
Likes: 0
From: Tonoph,AZ
Tom sorry to see your truck wrecked, but on the other hand happy hunting for a new truck.
Karri, sweetheart I hope you feel better! Its not your fault, things like this happen thats why there called accidents, and if you were my wife I would be damn glad you were in my truck, when the wreck occured, then your little SUV. In a sense I would be relieved I would still beable to hug my wife.
Karri, sweetheart I hope you feel better! Its not your fault, things like this happen thats why there called accidents, and if you were my wife I would be damn glad you were in my truck, when the wreck occured, then your little SUV. In a sense I would be relieved I would still beable to hug my wife.
Logistics Pro
Joined: Nov 2004
Posts: 4,795
Likes: 47
That's one of the reasons that I like driving big trucks - safety. Glad she's okay and glad that she wasn't in a little car that might have mangled up the driving compartment and done alot more damage to her.
Hotshot
Joined: Aug 2006
Posts: 17,399
Likes: 318
From: Whittier, CA
This is correct. After all, you would have to pay that sales tax again if you replaced the truck with one of like value. You should also get a prorated refund of your license and registration for the portion of the year remaining. That's no small thing in some states. In CA for example, annual renewal might be $400-$1,000 depending on value. You should be refunded that based on the unused portion of the year. And you will have to turn right around and pay it when you register the replacement truck.
Post Fiend
Joined: Sep 2005
Posts: 5,955
Likes: 9
From: Ohio
Sounds like your into superdutys! lmao. Yall should get two F350s and sell the honda suv
One for karri and one for tom, that way you guys can have two trucks at our next meet and karri could have fun lol instead of sittin in the back seat and watchin us tow lol
Super Moderator
Joined: Aug 2008
Posts: 37,384
Likes: 1,868
From: Frederick, MD
Here in MD, they will total if it the repair is 75% of the value. That is what happened to our Crown Vic earlier this year.
The Mrs. Got broad sided by a M/C. at 60 mph. Both doors on the drivers side and the rocker panel and door frame.
The Mrs. Got broad sided by a M/C. at 60 mph. Both doors on the drivers side and the rocker panel and door frame.
Thread Starter
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Super Moderator
Joined: Aug 2003
Posts: 25,479
Likes: 742
From: Isanti, MN
Its the wife again, we are slowly moving into our new house but Tom and I did go and clean out the truck 2 days ago and we took some pictures of the truck. I think he's going to try to post them tonight.
Karri :-)
Karri :-)