What's new
CK5
Register an account today to become a member! Once signed in, you'll be able to participate on this site by adding your own topics and posts, as well as connect with other members.

Sad day :( Need K5 value

MNorby said:
do you own the blazer free and clear? Get a loan on it to pay off the car?
Click to expand...
Yes I own my k5 free and clear. Banks wont give me a loan on it unless its 98 or newer with less then 100k :(

Oh and TJ I do not have gap insurance, one thing the dealer forgot to mention. isn't that funny. I can buy the car back for 825, but thats another 825 I would owe on the loan.
 
jekquistk5 said:
My bank, or atleast the person I talked to said 30 days from the day they recieve the total loss paper they require payment in full.
Click to expand...

So dont sign any paperwork with the insurance co and it isnt considered a loss yet. Until the claim is settled its not a loss. Hell you could keep pushing this off by refusing the insurance companys offer until you have up ewnough cash...
 
Sell the extra parts and try to come up with the rest.... If you sell your K5 what are you going to drive?
 
If I sell my k5 I'll drive my other car 94 corsica. The car in question is my 99 grand am which my g/f useually drives to keep the miles down.
 
yeah, I have to agree with the other guys... sweat the insurance co. It doesn't matter that you got your policy online. Their initial "we'll pay you $x.xx" statement is an offer. Most people just assume its all they can get and agree. Ins. comp. agents have a good deal of flexibility. Geico ponied up a good amount more than they originally offered to pay off a loan my wife had on a car she totalled. If nothing else, negotiating with them will buy you a little time with the car loan peeps.

Also, one option peeps haven't mentioned yet is to use a credit card to pay the rest of the loan off. I get offers for new cards all the time that offer 0.0% interest for the next 6-12 months on balance transfers. Use a card you have now to pay the loan, balance transfer to a new card ASAP so you don't get screwed with a high APR. Some people just suck it up and pay crazy high rates from CCs... personally, I've been "paying" zero percent on a medium size revolving balance (was almost $4k originally... closer to $2k now!) for 3-4 years just by moving the balance to a new card on occassion. Works for me. I ain't paying 15%+ on any loan. Just make sure there is no balance transfer fee and they offer 0 percent on transfers and you're good. Don't use the card for anything else... just to hold the balance. Having lots of credit card debt is bad... paying a high APR is pretty much unforgivable considering all the competition in the card industry these days.

j
 
wow that sucks.... a while back I got hit by someone.... and the insurance company told me my truck was totalled cuz the damage was more than what my truck was worth.. (before I lifted it so in about 1993.. yes that was a while ago)

anyway... the guy said it is totalled... I said.. well how much will you give me if I keep it.... he said the damage to be repaired is $1400 but he would give me $700.. so I took it and spend $300 on a new front clip :haha:

times have changed.. but they are trying to make you think you are in a tight spot..... you have the upper hand..... dont let them bully you around and rush you into it....

what happens if you dont come up with the cash? are they gonna send Vinny out to break your arm? :crazy:

even if you pay $25 a month.. you are making payments and legally in every state they cannot take you to court for full payment cuz you are making an effort...

talk to them and tell them that you dont have and cannot get the cash up and want to do a payment plan or something.. if they refuse tell them that that isnt an option and you are TELLING THEM that they are only going to get payments.... EFF EM!!!!
we are going to have our next child soon.... we will owe about $2500-$3500... we are going to make payments.. we did that with our last kiddo so gonna on this one too... (lets not ask me why we have to pay as my health insurance sucks and my wife said we have to as we did before... so to lessen the argue..... YES DEAR!!!!)
 
If it was not your fault, you are not responsible for anything. It does not matter where it happened. The insurance co. is trying to screw with you. BTW I have Progressive. Anyhow, they need to pay it off and go after the persons insurance of the vehicle that hit you. Don't except anything from them untill you are satisfied.
 
I don't mean to tell you what to do, but you said you need $2000 and you could probable come up with half. That only leaves $1000 more. Why not just sell a few parts of the K5 to get the cash. I know you'd have to rebuy them eventually, but at least you get to keep the K5. I'd be willing to buy the steering arm. Heck, between the steering arm, flattop knuckle, 38.5 tsl, and the shackle flip you would be pretty close to $1000. Even if you were a few hundred short, you could send them what you have and by the time the send a bill for the rest you might have had another 30 days to save for it.
 
You can also try to keep negotiating with the insurance company to give you more money. I assume the bank will wait for the claim to be settled before demanding payment? By then you might be able to pay down more of your loan. Also, take the car to some other shops and get written damage estimates and you'll be able to negotiate better. I've got progressive insurance too and they always underestimate damage. I've been in three accidents with them as my carrier. (none were my fault)
 
79k20350 said:
So dont sign any paperwork with the insurance co and it isnt considered a loss yet. Until the claim is settled its not a loss. Hell you could keep pushing this off by refusing the insurance companys offer until you have up ewnough cash...
Click to expand...

He's right jek. As long as you don't sign/settle, the claim is still considered "open" and no loss will be filed. You can drag this out a LOOOONG time. Stand tall and fight for your money, and in the mean time, look to pay off the loan as fast as you can. Sell off your spares and future project parts, try to get that loan paid down to a reasonable amount. I work the property side of the insurance industry, as a restoration contractor and I see this stuff all the time. Fight these guys, make a lot of noise, call the highest up people at the company, etc. They WILL negotiate, IF you make yourself enough of a pain in the ass...

Good luck broseph.
 
firefighter184 said:
He's right jek. As long as you don't sign/settle, the claim is still considered "open" and no loss will be filed. You can drag this out a LOOOONG time. Stand tall and fight for your money, and in the mean time, look to pay off the loan as fast as you can. Sell off your spares and future project parts, try to get that loan paid down to a reasonable amount. I work the property side of the insurance industry, as a restoration contractor and I see this stuff all the time. Fight these guys, make a lot of noise, call the highest up people at the company, etc. They WILL negotiate, IF you make yourself enough of a pain in the ass...

Good luck broseph.
Click to expand...
At least somebody caught what i said...After that it was just a big echo:rolleyes::D
 
I'm prety much on track with what you guys said. I talked to the District manager of my bank that got me the loan, and they said there is no way they are going to hand over the title to progressive if they total it for a loss, they will want the full amount before they hand over the title. The bank is not going to take the loss. He asked who I talked to and I told him, he said the lady I talked to the day before is just a loan officer and not a manger, and fed me some BS. Sooo anyways I feel better, and I kinda see this as a blessing paying off half the loan, and I can probably fix the damage myself, or pick parts from a wrecked car in my g/f dad's junk yard. As long as doors from a 00, or 01 fit on the 99. I've welded enought sheet metal, and I am a patient guy so I can probably do the stuff with the help of others. I'll try to get pics up tonight or tomorrow for you guys to see, its really not that bad. If anyone wants some of the parts I had listed let me know, as it could really help me.

Jekbrown...
Not getting a CC I have one right now with a low limit, that could be used to pay off some but I hate carring any ballance. I like to keep it payed off. Got into trouble when I first bought lift and tires, and I sweared to myself I wouldn't have a cc with over a 500 bux limmit ever again
 
BTW, you can still sue the person personally, believe it or not. its a shame you have neck pains to this day.

also, you can sue the parking lot.

"on the ground of negelegent parking lot design."
"the lack of appropriate placement of speed limit designation, stop signs at appropriate traffic points, and lack of speed bumps to limit speeds."
 
If it is any help. The "hold out for a better offer" approach really does work. I wrecked my '76 Stingray a few years back (IN A PARKING LOT). It was the other drivers' fault, but we were both insured by State Farm, so I think they were trying to screw me out of money. I financed the car for 10K even (plus interest) and when it got wrecked, they were quoting me an amount that left me up-side-down $1500. I told them to go piss up a rope and hung up the phone. I never agreed to anything. The next day they called me back and quoted me a number that left me $600 the wrong way, so I informed them of all the money I had spent restoring condition and driveability on the car, then I told them to piss off and hung up. Heard nothing for 3 days, then I got a phone call saying that they would cover the loan value AND credit me the amount I had payed for the windshield, seatbelts, and radiator. (I was satisfied with this, so I didn't mention the aftermarket upgrades). But they are right...you don't have to agree to let them screw you over.

Rob
 
i know several people have already said it, but fight progressive to the end. they totalled my 2000 zr2 blazer and they were not trying to give me all of my money in extra's i added to the policy. i would not sign a release form until i got the check for the full amount of all my receipts. i went to their office and complained in front of several customers that were shopping for policies. they finally said they would pay the total amount if i signed the release, but told me they couldnt cut a check from that office. so i told them to call me when the check was there and i would sign it. check was there the next day and i finally signed the release 2 months after the accident.
 
beater_k20 said:
just be aware, that the low credit limit, and lack of a balance actually hurts your credit score.
Click to expand...

x2

a portion of your credit score is calculated by looking at a ratio of how much credit you have available vs. how much you have used. If you have $300 on a 500 dollar limit, it could hurt your score... while the same $300 with $10,000 of available credit would actually help. Same amount of debt either way.

I see what you're saying about being wary of CCs though, and its wise to avoid ringing up huge balances. I was just trying to offer a solution that could work if well-managed with a good amount of discipline.

j
 
Lots of good advice. Keep saying no to the insurance company. They have a "reserve" set up to pay you and the adjusters job is to come in below that. They will almost always bump that up.

The credit card is a good idea also if you are disciplined. Better than selling your truck at a loss.
 
leave it in a dimly lit area and ill come and get it for ya. cant take what ya dont have and you can slowly "aquire" the parts to build one just like it:D
 
You must log in or register to reply here.

Latest Posts

Top Bottom