2nd Gen Non-Engine/Transmission Saying goodby to second genertaion trucks

[HBarlow]

Bob,

Based on the opinions of a couple of these guys who have knowledge and experience with body damage I think I'd fight to keep and repair a long ago paid for and well maintained truck rather than allow myself to be forced, by a drunken fool's mistake, to purchase a high dollar new one.

I had the same opinion when I saw the damage photo as these guys but didn't express it because I don't have experience as they do. It looked repairable to me.

 

[rosebunch]

Thank all,
The insurance company towed the truck from the lot it was in to their facility yesterday. I will not have access to it until they determine which way they are going to go IE total or fix. I have all ready emphasized to my insurance agent that I want if fixed, it is my insurance company (State Farm) that is taking the lead at this point as I do carry collision coverage on it. I have not heard a word from the other insurance company and neither has State Farm. I have also emphasized to my agent that there are many upgrades on that truck. I managed to find the receipts for most of thoes upgrades which is good. I have a file I carry in the truck that contains all the receipts so it is with me. The only one I have not found at this point is the one for the PacBrake. It is very obvious that I have it if one just lifts the hood.

 

[HBarlow]

Retail price on a PacBrake must be $1200 plus what, three hours labor at $100+/hour to install?

 

[NIsaacs]

I would guess that truck will be totaled, at about $100 per hour plus parts it will get expensive quick. As far as your upgrades... they will not allow for them unless they were included, in advance, when the insurance was purchased.



Nick

 

[HBarlow]

I'm not a fan of State Farm but a friend utterly destroyed a Goldwing in a high speed single vehicle accident a year ago. SF paid him several thousand dollars more for the motorcycle than he had paid for it when he purchased it used a year before. They also paid generously to replace his helmet and riding gear. I've read similar stories on the Goldwing website where SF has paid well for accessories.

We all know much of what we read on the internet is less than fact but sometimes an insurance company will surprise us.

 

[budnate]

Bob, something to think about is if they force your hand, you need to be ready to defend that trucks value, If I was in your shoes I wouldn't except a penny less than 17K for your truck,

guys may get lucky at times buying these trucks cheap from time to time in the lower 48 ... realality is you are not going to buy a cherry 2nd gen for under 17k tomorrow, they are not out there anymore.

it may be days or months before a clean truck shows up for sale and they usually sell in a few days or less, you may want to work the phone and find a good auto appraiser to appraise your truck for its real value.

B.

 

[Gary - K7GLD]

Keep in mind, it IS a '95 truck, 18 years old, and book value WILL prevail as far as insurance is concerned - and yes, hourly pay for repairs and replacement costs add up quickly, and outstrip the reasonable ratio of vehicle value vs repair cost...

Sad tho' it is...

 

[JR]

They certainly will go by book value rather than what they are selling for on the streets which is close to one and a half times bluebook. The one thing youve got going for you is there appears to be next to no body damage, which is where the man hours quickly stack up. As long as there isnt alot of frame time involved, you may have a chance at getting it back if thats what you want. I know I sure would :{

 

[jgillott]

I'll be very interested to see what the adjuster has to say and what they list as needed repairs. My gut is that, as many of you mentioned, it will come back "totaled" due to repair cost vs. market value, not that it is unfixable. This is a perfect example of a truck to buy back and fix on your own.

 

[Flying_gage]

I lost a 1979 BMW R100RS in a fire years ago. State farm was my coverage at then, (and now). It took a month to work out but I got close to what I knew it was worth. To get to that point, I had to be persistent as hell and offer them a written estimate as to it's fair market value from a dealer who knew the bike.

In this instance time is your friend. Don't hesitate to let your file sit on that adjusters desk. They are encouraged to clear these cases as quick as possible and will negotiate towards your end goal.

For the advice being offered about fixing it. They will offer you a cash settlement where they get the truck and a cash settlement where you get to keep the truck, (with a branded title). If this was my second gen that I couldn't replace, I would not hesitate taking the cash settlement and keeping the truck even with the title issue.

 

[HBarlow]

Sometimes it is possible to negotiate an attractive settlement and avoid losing any money.

Back in the '90s I had a very nice '93 Airstream 34' trailer that became lightly dinged by a hail storm. Essentially every panel was slightly dinged. My insurance company doesn't have a full time adjuster in the Lubbock area so sent out an independent adjuster. He was 100 lbs. overweight, a waddling pig, and didn't even bring a ladder to climb up and inspect roof panels - for obvious reasons. He provided me with a copy of the estimate he wrote before he faxed it to my insurance company.

I immediately called and began raising hell. They agreed I could pull it to the nearest Airstream repair facility of my choice in OKC, not the local dealer. I knew the guy in OKC and knew the quality of work he did. He wrote another estimate that was thousands of dollars higher and the insurance company sent out their dedicated adjuster in OKC to inspect it. Their adjuster agreed with the second estimate.

Then I contacted the insurance company and negotiated an agreement that I kept the trailer and a check for the difference which was a large settlement. The insurance company did not get the title and did not stamp it salvage although it was technically a total loss.

The Airstream repair company in OKC, still in business, was a husband and wife operation and she was a great salesperson who sold a few used units. I chose not to repair the trailer and left it with her to sell. In several weeks she sold it a local OKC buyer with full disclosure. The selling price was discounted for the hail damage but still near full retail because the damage was light and cosmetic only.

I made a nice profit and the trailer, which I didn't like much anyway, went to a happy buyer. I was glad to see it go and even "gladder" to pocket the money.

Sometimes if you are knowledgeable and persistent you can work it out to your advantage.

 

[rosebunch]

Thanks all,
I have put together the the list of all that has been done to the truck. Of the 17 items on the list, I have 12 of the receipts here in Texas with me. The others are either in Washington or lost. The receipts I do have are for the most expensive upgrades except the $1,200 I know the PackBrake cost. My truck was still in the tow lot yesterday so things are not move very quickly. I still have no information on the accident from anyone. I am going to go to Texas DPS office today and see what I can get there. State Farm still does not seem to have much info either other than what I have provided them. The truck is covered by collision and State Farm assures me that they will make me whole. We shall see!

GOOD News, I just found my receipt for the PackBrake, $1,973. 58 installed.

 

[WalterRyan]

I hate to bring bad news but that is a total. I had the same thing happen in November. Driver was not drunk but crossed into my lane and we hit off center. The truck was exactly like sours except the knuckle did not separate from the axle but the axle was bent. It ended up being almost $9,000 damage. I was not able to get it settled until February. I do not want to step on any toes here but I learned a lot and some of what has been said is not fact. The other drivers insurance stepped up and took responsibility but the problems started with the value of the truck. They came back and said my 2001 3500 dually HO 6 speed was $11,202. They wanted to stick to that value even after I sent links to similar trucks listed for 17-24 thousand. Book value is meaningless and if you bring it up they will go on the defensive. The insurance companies all use a company called CCC Information Services INC to get the values. I was able to get a copy of the report and it was obvious that they were given a target value and adjusted all the comparable trucks as necessary to hit that value. It reminded me of real estate appraisal, always ending up right near the sale price of the house. They even used my truck as "comparable #4" using the value they placed on my truck to justify the value of my truck. All you really need to know about this is that according to the cover page CCC is a division of Experian. The best part is I was not satisfied with the offer and went to my insurance company and CCC sent them a copy of the same report they sent to the other company. My insurance ended up sending an independent appraiser out and got the value up to the point of not being totaled. The good news is that your truck can be fixed without much trouble but it will have a salvage title.



I ended up discovering I had an inside line my insurance company and found out a lot more about the process than I have mentioned here. It turns out they determine the value and do not care what book value is. In fact I was cautioned not to mention KBB or they would not be cooperative. Let's just call it a racket.

 

[JR]

KBB began its valuation services to fullfill a need for used car pricing information by banking and insurance industries. Today it is one of the only recognized companies by both the above mentioned when sourcing loans and insurance claims. The KBB value on a 2001 3500 HO 6 speed is $11,100 which, coincidentally (or maybe not ) is almost exactly what the insurance company valued your truck at. Bottom line, they are required to give you fair market value for your truck.

 

[WalterRyan]

KBB may have been used by insurance companies at one time but they will not consider it now. CCC claims to work with 350 insurance companies and other sources say they have 85% of the market. I do know I have 2 copies of the report from different insurers and it is the same exact report. Today KBB values my truck at just shy of $12,000. In November it was almost $15,000 (without considering any extras added after it left the factory). The appraiser came back with $15,000 in January. Still less than I would have to pay to replace it but it worked for me because it made the truck not a total. I did a lot of research and called all over the country chasing trucks for sale and in December the average asking price was around $18,000 adjusted for mileage and they seemed to be getting it.

It turned out I knew the field adjuster (I did not know that was his job before that) and he coached me on this.

The insurance commissioner in Georgia was even investigating this company for "low balling values on totaled vehicles". I am just glad to be done with this adventure.

 

[JR]

The $11,100 I listed was in "fair" condition or on the lower end of the scale. And your right, many trucks are selling right now for much higher than their value. There is a huge demand for them and people are asking for several thousand dollars more than their worth. $15,000 for an 01 HO 6spd with low mileage and in excellent condition is a very respectable price IMO. The only point I was trying to make is regardless of who the adjusters use to determine a value of the truck, KBB is still an accurate tool for the general public to use.

 

[budnate]

I doubt it will be a cake walk, that's why I suggested he get it appraised right out of the gate and show what they sell for on line, they have to replace the truck minus the deductible... not some number they pull out of the air... . hopefully if you show up organized from day one the adjuster will play fair.

Walter might also be a good source for a trend of info to show what these trucks are really worth... . might save some time getting the truck value sorted out with the Ins Co.

Bob, another thing keeps nagging at me, is the gash in the oil pan you mentioned, I would get a rag stuffed in that as soon as possible if your hoping to keep the truck, that fine dust down there gets everywhere.


B.

 

[rosebunch]

I have finally heard back from my insurance company. The estimated cost to repair is 6,700. The value of the truck given to me by a local Dodge dealer is 5,746 which would be a total. My company is now evaluating the upgrades I have on the truck. As of last night, they have the value at 8,533. They told me that they wanted to do some additional checking on some of the upgrades and thought that they could get it valued a little higher. We are now getting to a finer line of total or not. I have to email them copies of my receipts today and they will let me know by Friday.

The insurance company for the perpetrator of this accident has not yet accepted responsibility for the costs. I do not know if this is because the accident report still has not been finalized by the Texas State Patrol (estimated to be this Friday) or because these people did not really have insurance. #@$%!

Bob

 

[rosebunch]

Well all,
My insurance Company did total the truck. They are giving me 10+K for it. I will be going shopping for a new tow-rig today. I have 7 more days of rental car and about 5 weeks time before I need to head back north so do have some leeway in finding good tow rig. This might be a bit of a blessing in disguise as my much loved 95 was probably legally over loaded with my current 5th wheel. It is still sad to see it go. I will be going to the impound lot and removing hitch and SmartTire tire monitoring system. :{

Bob

 

[budnate]

Dang Bob, at 10 they should have left you with the truck also..... good luck in your search,

only advise I can offer is don't trust anyone selling a rig! people will look you square in the eye and bold face lie anymore, be very thorough in inspecting any truck you think is the one.

peace, B.