Value of '95 Legacy Outback?

[Edwin Hurwitz]

Last Monday, an idiot college student caused an accident that resulted
in his victim slamming into me as I waited at a stop light. There is
bumper hood, grill etc damage as well as deployed airbags and the
resulting broken windshield (just got a new windshield a month
ago-grrr). this car had a perfect (and perfectly documented back to the
first oil change) service record, nary a scratch on the paint as well as
aftermarket tinted windows, ski rack and an alarm system. It has 118k
and drove like a dream and looked practically new.

My insurance company wants to total it and give me $5160 for it. This
seems a little low as I certainly haven't found the equivalent for that
price here in Boulder CO. Is he smoking crack or did I pay too much 6
months ago when I bought the car ($6500)?

Any comments would be helpful. I can buy the car back for $282 and get
it fixed myself, but I am not sure I would come out even.

Don't they teach kids not to go against red arrows these days?

I really love this car....... As a musician it is perfect.

TIA
Edwin

 

[mj]

My insurance company wants to total it and give me $5160 for it. This
seems a little low as I certainly haven't found the equivalent for that
price here in Boulder CO. Is he smoking crack or did I pay too much 6
months ago when I bought the car ($6500)?

Check out Kelly Blue Book http://www.kbb.com/ and Edmunds
http://www.edmunds.com/ for some realistic prices.

 

[Jim Stewart]

Last Monday, an idiot college student caused an accident that resulted
in his victim slamming into me as I waited at a stop light. There is
bumper hood, grill etc damage as well as deployed airbags and the
resulting broken windshield (just got a new windshield a month
ago-grrr). this car had a perfect (and perfectly documented back to the
first oil change) service record, nary a scratch on the paint as well as
aftermarket tinted windows, ski rack and an alarm system. It has 118k
and drove like a dream and looked practically new.

My insurance company wants to total it and give me $5160 for it. This
seems a little low as I certainly haven't found the equivalent for that
price here in Boulder CO. Is he smoking crack or did I pay too much 6
months ago when I bought the car ($6500)?

Why won't they pay you $6500? It was clearly your market
value then and it hasn't depreciated since to speak of.

I think it's time for another round of negotiations with
your insurance company. Just cause they made an offer
doesn't mean it's the final offer.

And be sure the accident occupants get a physical exam
on the insurance company's tab. Be sure to handle the
medical side of this correctly. An aggressive lawyer
would get you far more than the $1340 difference that
you're concerned about.

 

[Dominic Richens]

My insurance company wants to total it and give me $5160 for it. This
seems a little low as I certainly haven't found the equivalent for
that price here in Boulder CO. Is he smoking crack or did I pay too
much 6 months ago when I bought the car ($6500)?

Neither. When I bought mine (conincedentally a 95 Legacy Wagon) the Ontario
UVIP said an average vehicle of same model, mileage and year sells for 5k$.
I paid 6k$ because it was in better than "average" condition.

So the problem you have is that you paid what was probably a good price
considering the car was in mint condition, but the insurance guy doesn't
really know what the car looked like before and hasn't time to research what
the car is really worth, so he probably got his number by looking at the
average price (book value).

How you contest this depends on your insurance company. Some policies
(mine) explicitly state that you are only covered for the book value.

Do you really think it might cost more than $4878 to fix it? Get a quote;
it seems a shame to send it to the yard.

 

[LeBernadin]

Do you really think it might cost more than $4878 to fix it? Get a
quote; it seems a shame to send it to the yard.

Airbags alone can be $2500-3000. Unless this guy has a shop in his
pocket, i don't see getting it fixed for anywhere less than $5000.

Insurance companies will almost always lowball their first offer and
this isn't an exception.

As someone else said, try for the $6500 that you paid for it recently.
But keep in mind, things like a perfect service record are irrelevant if
there's engine damage etc. so i wouldn't emphasize that as much as that
you just recently purchased it for $6500 and why would you(insurance
company) offer that much less etc...

 

[TG]

I just paid $4,500 for a Legacy LSI in good shape with new tires and 210,000
miles here in MT, and a '99 Outback sedan with 110,000 for $10,000 TG

 

[Edwin Hurwitz]

Neither. When I bought mine (conincedentally a 95 Legacy Wagon) the Ontario
UVIP said an average vehicle of same model, mileage and year sells for 5k$.
I paid 6k$ because it was in better than "average" condition.

So the problem you have is that you paid what was probably a good price
considering the car was in mint condition, but the insurance guy doesn't
really know what the car looked like before and hasn't time to research what
the car is really worth, so he probably got his number by looking at the
average price (book value).

How you contest this depends on your insurance company. Some policies
(mine) explicitly state that you are only covered for the book value.

Do you really think it might cost more than $4878 to fix it? Get a quote;
it seems a shame to send it to the yard.

It will cost way more to fix it. Major cost is the airbag and related
components. They are $600 apiece and the sensors are $350 apiece. All
told, almost $3500 in parts alone for that system. Apparently, the
damage will be about $7400 to fix. I am still negotiating, though.



Thanks for the reply.
Edwin