LOST JEEPS
http://www.lostjeeps.com/forum/phpBB3/

Salvage value
http://www.lostjeeps.com/forum/phpBB3/viewtopic.php?f=5&t=89663		 Page 1 of 1
Author:  canlib2 [ Wed Jan 30, 2019 4:25 pm ]
Post subject:  Salvage value
Crashed my 05 CRD last week and the insurance company has written it off. They have offered me a chance to keep the wreck and I'm wondering if it is worthwhile. The Jeep had 141,000km on it and I've owned it since new. I always maintained it and just had the timing belt replaced. The motor was still running after the accident and I had to shut it off. No sign of damage to the electric fan, intercooler or rad. The hood is untouched but all the plastic is blown off the front and both front fenders are toast. I'm 4 hours away from the wreck and I don't know how much frame/unibody damage there is.

I'm interested to hear your thoughts.
Author:  WWDiesel [ Wed Jan 30, 2019 4:50 pm ]
Post subject:  Re: Salvage value
Location would help? :wink:
Author:  canlib2 [ Wed Jan 30, 2019 4:53 pm ]
Post subject:  Re: Salvage value
Oops, thought it was in my signature. Nakusp, BC CANADA
Author:  TURBO-DIESEL-FREAK [ Wed Jan 30, 2019 5:43 pm ]
Post subject:  Re: Salvage value
canlib2 wrote:
Oops, thought it was in my signature. Nakusp, BC CANADA


Do you intent to purchase another Liberty CRD?

If not, I know myself and another fellow would be happy to take it off of your hands, canlib2.
Author:  TURBO-DIESEL-FREAK [ Wed Jan 30, 2019 5:47 pm ]
Post subject:  Re: Salvage value
canlib2 wrote:
Oops, thought it was in my signature. Nakusp, BC CANADA


Do you intend to purchase another Liberty CRD, or do you intend to fix your crashed CRD and continue to use it?

If not, I know myself and another fellow would be happy to take it off of your hands, canlib2.

This same fellow has a yard full of KJ Libertys if you would like to try and get your rig going again.
Author:  geordi [ Thu Jan 31, 2019 10:56 pm ]
Post subject:  Re: Salvage value
These are rare enough that it would be a terrible shame to let the insurance have it - just the engine alone is worth 80% of the value of buying a new one. Definitely buy it back from the insurance.
Author:  JBDeVega [ Sun Feb 03, 2019 3:06 pm ]
Post subject:  Re: Salvage value
The engine and tranny can be swapped, even into a non-linerty with some mods. You can part out the rest for profits. I'm looking for a few spare stock parts my self.
Author:  TKB4 [ Mon Feb 04, 2019 1:54 pm ]
Post subject:  Re: Salvage value
I would definitely buy it back in that condition . You can probably even find fenders etc the same color to swap and avoid most body shop charges. Even if fram bent some probably just forward of front cross member. I don't know how much trouble it is to get a salvage title in canada but would be no sweat in US just prove where parts labor needed where from and have it inspected. If no check engine lights wiring would even be ok.
Author:  krb [ Tue Feb 05, 2019 2:13 am ]
Post subject:  Re: Salvage value
Your situation sounds similar to mine.

Cliff Notes version: Dad hit a deer. Motor still ran. I replaced radiator & intercooler, etc and been driving until my glow plug issue. Bought a gasser for body parts but not swapped yet. I think I gave Insurance $450 for it...
Author:  geordi [ Fri Feb 08, 2019 10:49 pm ]
Post subject:  Re: Salvage value
My only concern is the salvage title problem - I'm dealing with this on another car (not a CRD) and can't get a straight answer from the insurance company about what the payout would be if an incident happened where I was yet-again the victim of someone else's inability to drive... But my car had a salvage title.

This lack of clarity has really soured my already very poor opinion of the insurance industry, and they don't seem to have any reasons to answer simple questions. Buying another one and parting out the damaged one seems the best option with the least questions.
Author:  sota [ Sat Feb 09, 2019 9:55 am ]
Post subject:  Re: Salvage value
Ask them what the pay out would be if it were a non-salvage vehicle, and cut that in half. There comes a point in time where the write off pay amount isn't worth squat... probably about when it matches your deductible. And don't get me started on insurance companies... they're on my "list."
Author:  WWDiesel [ Sat Feb 09, 2019 10:32 am ]
Post subject:  Re: Salvage value
I truly hate and detest insurance companies; legalized forced pyramid scheme and ripoff by the government! :furious:
They are out to cheat you every chance they get! :twisted:
Author:  mrhemi [ Sat Feb 09, 2019 10:38 am ]
Post subject:  Re: Salvage value
WWDiesel wrote:
I truly hate and detest insurance companies; legalized forced pyramid scheme and ripoff by the government! :furious:
They are out to cheat you every chance they get! :twisted:


Don't forget "extortion". The insurance industry business plan is the same as the legal definition of extortion under the criminal code.
Author:  Steve777 [ Sat Feb 09, 2019 11:09 pm ]
Post subject:  Re: Salvage value
From my experience with State Farm (about 2-3 years ago so it may have changed), once the car has a salvage title it is only worth the salvage value again; regardless if you fix it up. My impression was that would be true for any ins co, even if the other driver was at fault and totaled your car. So basically the ins co would give you what they are asking to buy it back.

However in Colorado, one can get a title changed from salvage to rebuilt. I never looked into it in detail, but there were some inspections which it needed to pass and forms and fees to fill out. But presumably a rebuilt titled car is worth as much (or nearly so) as a clean titled one.

Whether it is worth it or not for our CRDs is the question. They are getting up there in age, and might be worth self insuring and taking the chance that you won't have an accident. Maybe not just yet, but certainly in a couple of years.
Author:  canlib2 [ Sat Feb 16, 2019 7:16 pm ]
Post subject:  Re: Salvage value
So, bottom line, after looking into the regulations around re-building and re-registration in British Columbia I decided it wasn't worthwhile. All repairs have to be pre-inspected and inspected again as the repair proceeds and before any portion is covered up. As well all welds have to be certified. Once all those hoops are jumped through you can only insure it for 60% value and if there is another accident it is de-registered forever. I took the cash and I'm looking at a Chevy Colorado with the VM/Duramax diesel.
Author:  geordi [ Sat Feb 16, 2019 10:10 pm ]
Post subject:  Re: Salvage value
canlib2 wrote:
So, bottom line, after looking into the regulations around re-building and re-registration in British Columbia I decided it wasn't worthwhile. All repairs have to be pre-inspected and inspected again as the repair proceeds and before any portion is covered up. As well all welds have to be certified. Once all those hoops are jumped through you can only insure it for 60% value and if there is another accident it is de-registered forever. I took the cash and I'm looking at a Chevy Colorado with the VM/Duramax diesel.


Understood, and I wish you much luck with the new vehicle. But there is a value still in buying back the broken one - not to put that VIN back on the road again, but to part it out. Especially a running engine is valuable.
Author:  krb [ Sun Feb 17, 2019 7:32 am ]
Post subject:  Re: Salvage value
Man that really sucks. Here you just drive it to the sheriff's office, they check the VIN and you are good to go.
Author:  weeks101 [ Sun Feb 17, 2019 1:13 pm ]
Post subject:  Re: Salvage value
canlib2 wrote:
...I'm looking at a Chevy Colorado with the VM/Duramax diesel.

Good choice!
Page 1 of 1 All times are UTC - 5 hours [ DST ]
Powered by phpBB © 2000, 2002, 2005, 2007 phpBB Group
http://www.phpbb.com/