Grrrr - got rearended

[Mannix]

OK, so I was driving home from work last week, after skipping the gym (this must be karma - I doubt I'll _ever_ skip the gym again).  Crested a slight hill, traffic was stopped, had to get on the brakes about 7/10 (if a normal stop is 4/10).  No skidding, no abs, the briefcase on the p-seat did not slide off, but more brake than I'd normally use Just Driving Along.  

Looked in the rearview - guy behind me is with it, he's stopping.  Whew.  Back off to thinking about Something Else.

Bam.  Guy behind guy behind me was not with it.  I'll post pictures.  

It hit the bumper on the right side, buckled out the wheel arch pretty badly.  Insurance company is leaning toward "total."  Those were the first words out of the inspector's mouth.  

In the ins-co's eyes, it is a 1991 BMW 318is, bald tires, 155k miles, torn driver's seat, fading paint, KBB value of $2200, assuming "good" condition.

The car is _not_ replaceable for $2200.  No way.  Since I've owned it, I've done the following:

Bilstein struts/shocks (sports)
Upper strut bearings/shock mounts
New control arms
New tie rod ends
New timing chain/front main seal/all guides/tensioner/water pump/thermostat
Crank and cam sensors
Reman AFM (2 weeks ago, grr)
Brakes - rotors/pads/sensors
Plugs/wires/tuneup junk
New rear muffler

+ all the stupid irritating stuff - replaced all bulbs in the dash, cleaned up wiring, dropped lower oil pan, made sure bolts were tight, fluid changes, all hoses, belts, etc etc etc.

IE, it is a pretty-to-very well sorted IS. Yeah, the paint was faded on the roof.  The seat is torn.  The tires need replacing (I could not believe she said that - my response was simple; "if the condition of the TIRES is an issue, I'll go home and put my snows on for you - bear in mind that the condition of my tires had nothing to do with the accident"), they're Yokohama AVS ES100s, been used in several driving schools (only the outside edges are bald;),  ehh.

Right now, the _only_ thing wrong with it (pre-accident) was a vacuum leak.  I have the intake manifold gasket and a pile of hoses - I'd just not gotten down and dirty to find it.  Good compression, no oil leaks, ran well, etc.

So, what do I do?  I'm going to fight them on the value either way - unless they come in with a number I feel is reasonable - I already warned her that I'd not be cooperative; she's very nice, she gets my point, no hard feelings toward _her_, but I'm not taking a loss because some jackass decided to use someone else's brakes.

I figure I have 2 basic options:

1. Take the check and buy another car
2. Take the check, buy back my car, find a cheap-but-straight 318is (E30), swap all the parts.

I don't like either one.  I know - "part it out!"  I -don't- have time for that (nor the space; my garage has a current racecar (1968 2002), a future racecar (Audi 80 quattro), the tow vehicle is at the shop getting a tranny (thankfully, looks like I might be adding ANOTHER car for a little while), plus wife's WRX wagon.  I'd love to part it out, but, well, no.  Not really an option.    I could buy the cheap-but-straight is, swap both directions (resulting in a car that runs/moves under it's own power), but I don't really have time for that, either.  

Aargh.  Just venting.  

I'll send pictures.  Anyone have any experience dealing with insurance companies on things like this?

Anyone in the Denverish area have a decent E30 318is for sale?  If I'm not going to swap parts, I'm probably going to get an E36 of some sort, but I hate to walk away from the considerable pile of nearly-new stuff I have on this one.


Iain

[D. Clay]

Ask for sales tax, title and license fees. You aren't entitled to these under your policy because it only covers the car itself. As a claimant, they are part of your loss. You are also entitled to loss of use - usually a rental car or cash allowance - until they officially notify you it is a total loss. Salvage value will be about 10% due to car's age. If they want to deduct more ask if they have a salvage contract and what would it pay. Contracts give one buyer all of their salvage. High is new cars (2-3  years) @25% and decrease with age. There are also deduction for over 50% body damage, major mechanical components  (engine, trans, etc), and over 10 years old.  It sounds like the car is drivable. With an hour or two on a frame machine and a some bondo, it could be a good Spec E30 or the beginnings of a track rat, as it already has the Bilsteins and good brakes. Buy it back for $200 and sell it for $500.

[sheepdog]

Try not to take the check. Tell them you want it replaced, not paid off.

This forces them to either pay you more or find you a comparable car. If you are in an area devoid of e30's replacing it could be costly for you, or them. You do NOT have to accept book value on your car.

Check this out.
http://www.ext.colostate.edu/pubs/columnym/ym159.html

[Mannix]

Thanks for the insight!  Very helpful.  

It seems that they're having trouble figuring out the fair market value of the car.  The guy who drove into the guy who got pushed into me has insurance through Allstate.  I had to drive the car to the inspectorplace, small 2-bay shop type thing.  The woman looked here and there, fed a bunch of numbers into the computer, and it is supposed to use a company - ADP? - that researches recent sales prices of the car in question in an effort to get FMV.  Two problems:

1. Not many of these get sold, and those that do range from $800 (clapped out) to $5k+.
2. It seems to me that a LOT of people who deal in cheaper used cars do the bill-of-sale trick to reduce taxes.  Sigh.

I'll certainly not take their first offer.  I don't really have the time to go all the way with it - lawyers and whatnot - there should be a happy medium.

We Shall See.  



Iain

[Mannix]

Oh, D. Clay, you shut up RIGHT NOW about Spec E30.

lalalalalala I CAN'T HEAR YOU!!!!


Iain (that's the last thing I need, but yes, it is a very, very good idea....

[bmwman91]

I had a similar problem when I totaled mine.  They ended up asking the dealer what they would sell one for as the "fair market price."  This might not work out too badly, just be patient.  I vote for buying the wreckage too.  I parted mine out for $2200+ (and kept all the mods for my 2nd 318is), and still have a lot of crap left.  It is just a royal pain to deal with it all.

[ak96ss]

I'll second the dollar amount and the PITA factor on parting a car out, and I still have a lot of stuff left over.

Stick to your guns and see what you can do to keep the car.

[Mannix]

$1500, $1300 if I keep the car.  Round numbers.  

Denied.

Sigh.  More as I know it.  



Iain

[b318isp]

Sorry to hear about this. I was in the same situation about 7 years ago. If you can get the car independantly valued (local BMWCCA Chapter?) it will help. Fight like hell and emphasise that you car is NOT stock and is NOT worth book value.

[sheepdog]

Thanks for the insight!  Very helpful.  

It seems that they're having trouble figuring out the fair market value of the car.  The guy who drove into the guy who got pushed into me has insurance through Allstate.  I had to drive the car to the inspectorplace, small 2-bay shop type thing.  The woman looked here and there, fed a bunch of numbers into the computer, and it is supposed to use a company - ADP? - that researches recent sales prices of the car in question in an effort to get FMV.  Two problems:

1. Not many of these get sold, and those that do range from $800 (clapped out) to $5k+.

Exactly why you do not want to settle for book value.

The real problem is not the way people undervalue it on registration, that should matter little. What hurts us is that these are collector cars.

No collector car has an accurate book value. Look up Model A coupe, then look at what and equal Hot Rod is worth. Book will say $5-10k for the coupe, but the rod could be anywhere from $12-$150k. All being in pristine condition.

[scottiesharpe]

Sorry to hear that.

Same thing happned to me a few years ago. Got hit in the same spot as you. This was in my Euro Spec 84 745i

I had a long saga dealing with the insurance co.  A little extra labor by you will pay off a few more dollars to you.

Read the full story here:

http://bmwturbos.scottiesharpe.com/topic.asp?TOPIC_ID=2379

Good luck.  Don't hesitate to ask me if you have questions.