Quote:
Originally Posted by MiLo
i dont know about that provision... i'd have to look at my insurance again to check.
if that would be the case, can you actually rebuild the engine and drive it again after the insurance company declares it a "total" loss.?
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Well it's not in your declarations page, it's something you bring up when they cut your check. You could try to call in and ask without telling them your situation.
You can do whatever you want with the car, so long you keep the title. BE AWARE that some insurance companies do report the fact that it was declared a "total loss" and you have to get a salvage title. This would encompass of you getting the car inspected and it has to pass a visual and technical inspection. The car must be fully restored when inspected so you can get a new title. "Fully restored" doesn't mean that it can't be missing trim pieces BUT it must look like a complete car and be completely functional. Trans will need to shift as it should, engine must be able to run without any leaks or noises, it must be able to pass emissions, it must not have any structural damage (meaning if your frame was bent before, you have to fix it. If you have extreme rust, you have to fix it).
Sometimes you have to tell the DMV yourself that it was declared a total loss, the insurance won't do it. In this case, how you handle it is up to you, we can't advice you on that due to the legal aspect of it and I will leave at that.
Also, if you threw a rod, you may have compromised the block. It may be a better idea to get a low mileage Ecotec engine. They are very cheap and plentiful. You can get em from a handful of cars. You could even go S/C.
Quote:
Originally Posted by MiLo
a totaled title wouldn't mean anything to me as long as i'm the owner, i know what happened. i guess if i was selling it it would be bad for the new owner. they probably wouldn't buy it right?
this is probably why Nas said that about keeping the car after declaring it totaled. to avoid this hassle of buying it back.
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A totaled title means that the car was declared "unfixable", well considering value to spending ratio. If you sell a totaled car without declaring it as such (meaning it becomes salvage) then it is considered fraud and how each state handles this is very different. Just know if you tried to unload the car with a bad title, you could end up in a sticky situation. This is only true when it is declared. If it's not reported on Carfax, then carry on. What is not said must not be mentioned ALTHOUGH should you sell it, it would be a good idea to state it. If the price is right, it wouldn't matter since they would buy it anyway, just remember that the car is probably worth $500 now. This is really a question of how attached are you to the car and would you want to hassle looking for another Alero. While the smart thing to do would be to scrap it and get another Alero with lower miles, the question is can you find yourself a $2000 Alero with 100K and a 2.2 that needs nothing done to it other than swapping over the things you had on your old Alero to your new one?
The whole "keep the car" thing was because it seemed you were attached to the car. IF you think it's worth fixing, then keep it and fix it. If you can find another white Alero and you wanna have a parts car, be my guest. If you wanna take the money and run, turn it in.
Quote:
Originally Posted by MiLo
going by book value do they actually go by the condition of the car before the engine damage or after?
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The way it is usually done is the highest value of the car. Meaning what would a 180K Alero retail for at a dealer in good condition. There are some companies that are bastards and will not do this but rather what it's worth in current condition. Allstate is known for this and will severely devalue your car in order to save a buck. Is that really good hands?
At this point, if they did the latter, then you're not getting more than $500 for it. A car without an engine is worth $500 on average. You can simply keep the insurance out and sell it to a junkyard for that price (Well usually they buy em for $200-$400 but shop around). My advice would be to not make a claim unless you're guaranteed $2000 so you can buy a replacement. To put it in perspective, a used engine is usually $500 to $700 at a you pull it yard, and about $1000 to $1500 installed. You can get a rebuilt Jasper engine for $1500 IIRC and installed for $2000 - $2500. At this point, the car will never be worth that, even without it being declared a total loss. This is why I must ask, how much is this Alero worth to you?
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