adidas_freak_71 asked:
My 2005 Saturn Vue was almost completely under water. I lived in Bridge City, Tx when Hurricane Ike came. I had full coverage insuurance, now my insurance company is trying to claim that we had 60,000 miles on the car but the mileage is digital so there is no way they could know. My husband changes the oil so we have no receipts that show the true mileage which is around 45,000 miles not 60,000. They are only offering 10,500 dollars for the total loss of the car. The blue book value, which my insurance company says they do not go by, is 13,800 dollars. I dont know what to do I have called a lawyer and they told me if I have no way to prove the mileage, then basically we are screwed. The problem is that we still owe around 14,000 for the car. I just lost everything I own in the hurricane, my house got 5 to 6 feet of water inside it. I don’t need this crap right now. So if anyone has any legal advice or personal experience it would be appreciated.
We have gone to several websites and looked up cars exactly like ours with the same mileage and they are all around 13,500 or more. We collected all that info and faxed it to the insurance company. And we have gone to edmund’s and we got the same prices.
My 2005 Saturn Vue was almost completely under water. I lived in Bridge City, Tx when Hurricane Ike came. I had full coverage insuurance, now my insurance company is trying to claim that we had 60,000 miles on the car but the mileage is digital so there is no way they could know. My husband changes the oil so we have no receipts that show the true mileage which is around 45,000 miles not 60,000. They are only offering 10,500 dollars for the total loss of the car. The blue book value, which my insurance company says they do not go by, is 13,800 dollars. I dont know what to do I have called a lawyer and they told me if I have no way to prove the mileage, then basically we are screwed. The problem is that we still owe around 14,000 for the car. I just lost everything I own in the hurricane, my house got 5 to 6 feet of water inside it. I don’t need this crap right now. So if anyone has any legal advice or personal experience it would be appreciated.
We have gone to several websites and looked up cars exactly like ours with the same mileage and they are all around 13,500 or more. We collected all that info and faxed it to the insurance company. And we have gone to edmund’s and we got the same prices.
Tags: Car Insurance, Car Mileage, Legal Advice, Mileage, Saturn Vue
Insurance companies do not use blue book to determine value, that is correct. Adjusters determine value based on condition, wear and tear and milage as you said. Even if the vehicle was flooded the adjuster can probably still determine the actual milage of the vehicle based on the wear and tear. You cannot base the figure off of blue book, it’s completely wrong. Check with your finance company to see if you have gap coverage. This coverage will pay for the difference in the amount that the insurance company gives you and the amount of your loan. If you do not have this coverage then you will be responsible for the remaining amount. A lawyer will not help you get any more money for your car.
In order to get more money you’re going to have to prove the car is worth more money. Of course you can’t prove the mileage thats going to give you difficulty. However, the insurance company for whatever reason thinks it was about 60,000. I recommend calling some dealership as close to the area you are in, I realize some may be out of business at the moment but do what you can. Ask them what they would sell your car for at the 60,000 miles and see if they are at $10,500 or if they are at $14,000. This may either make you realize it really is worth only $10,500 or you can have the put it in writing ont heir letter head to submit to the company. You would probably want to get more than one quote to get an average price. Then you can try to show them the best proof you can find that they are wrong. Keep in mind that your loan includes interest and finances which may explain why the loan is more than the value of the car.
they go by red book…you should take the $ and run…you are upside down on the loan…no way the ins co will budge….sooner u get the cash the sooner you’ll be on the road…take the money…pay off the loan …you are gona have to pay the 4K out of pocket…that’s the trouble with new cars [they ;lose thousands driving off lot] and no money down..your always behind…sorry
just for the heck of it , google edmunds used car pricing to see what they have to say. it said dealer retail price is 12,700 , for average 6 cylinder and 10,300 for trade in and 11,700 private party sale.. good luck . but next time be a better car buyer. owing that much on this car is your responsibility. but i hope you get more.