Flooding.....Should I total a flooded car or keep it (Allen: sales, insurance)

[allen3iverson]

Like my car, Acura TL, 100K miles, runs great, never have any issue until the damn flooding.
Water submerged 3/4 of the wheel and enter the inside, the carpet is totally wet, exhaust full of water.
Tow to a body shop, the guy told me the computer close to the carpet get wet, it might be expensive to replace.
I had full coverage, 1000 deductible. Still waiting for insurance adjuster to come and evaluate.
I am not sure how bad it is since I am not a auto expert.

Which idea is better at this moment?
1. Total the car, accept the check from insurance company and pay the 1000 deductible. But will have to spend more money to buy another similar quality car
2. Have body shop repair the car, replace all necessary component, pay the 1000 deductible and continue drive my car.

[oceangaia]

It's not your choice. The insurer will determine if they will total it or repair it.

Typically, they will total it if the repair estimate is 75% of the market value. If they total it you might be able to keep the car for the salvage value and have it repaired but it will have a salvage title and you probably won't be able to insure it again for collision or comprehensive.

[studiobtm]

Flooded cars frequently have ongoing problems with electrical gremlins, rust in strange places etc. If you need reliable transportation I would walk away and buy something else.

If it is a 69 Jag XKE - different story :-)

[PedroMartinez]

Originally Posted by oceangaia

If they total it you might be able to keep the car for the salvage value and have it repaired but it will have a salvage title and you probably won't be able to insure it again for collision or comprehensive.

If you can get it for cheap enough and the repairs aren't too bad, it might be worth looking at the option of buying it back from insurance company.

I know a guy who bought back his totaled boat and used it for years. It worked out well for him, but it would be a gamble.

[Oildog]

Hola Amigo....

[blkgiraffe]

Allen you may want to consider keeping that car if you can, I'm not too sure you could afford another one with you know.....the back child support and little income you're getting. Considering your career at this point is shot.

[wintersbone]

just depends how much its worth and how much money take to fix it and how much you really like the car.

[trbstang]

One thing to realize, if they do decide to total it, you don't have to just accept their first offer. It is just that, a first offer that you can counter and try to get more, if comparable cars are selling for more. You would just have to do some research. They should give you enough to buy a similar car - same year, mileage, condition, less your $1,000 deductible, but plus sales taxes (6.25%) and plus license and title fees (~$100). So if your car would sell for $15,000, you should get $15,000 - 1,000 + 938 tax + 100 fees, or about $15,038.

If only the carpet and maybe a computer are wet, and there are no other electronics that got wet, chances are they will not total it. Unless the water got up into the dash or you have a lot of electronics in the seat area, I doubt it would cost more than a few thousand to fix it. Either way, you are out $1,000. It is times like this that I am thankful for my $50 comprehensive deductible.

Good luck with it!

[allen3iverson]

Originally Posted by trbstang

One thing to realize, if they do decide to total it, you don't have to just accept their first offer. It is just that, a first offer that you can counter and try to get more, if comparable cars are selling for more. You would just have to do some research. They should give you enough to buy a similar car - same year, mileage, condition, less your $1,000 deductible, but plus sales taxes (6.25%) and plus license and title fees (~$100). So if your car would sell for $15,000, you should get $15,000 - 1,000 + 938 tax + 100 fees, or about $15,038.

If only the carpet and maybe a computer are wet, and there are no other electronics that got wet, chances are they will not total it. Unless the water got up into the dash or you have a lot of electronics in the seat area, I doubt it would cost more than a few thousand to fix it. Either way, you are out $1,000. It is times like this that I am thankful for my $50 comprehensive deductible.

Good luck with it!

Thank you very much! Do you know if insurance will determine the value based on vehicle trade-in value or private party value on KBB? there are a big difference between the two.

[Mr. Krinkle]

Originally Posted by allen3iverson

Thank you very much! Do you know if insurance will determine the value based on vehicle trade-in value or private party value on KBB? there are a big difference between the two.

I'm not sure, but I do know your insurance company will try to *********. That's what they do.