How to properly value used Model 3 with past damage?

[ezevphl]

So unfortunately my car was hit again and this time it is quite serious. A (likely) drunk driver plowed into a series of parked cars. The first point of impact at high speed was my Model 3.
The good news, let me tell you, the car is quite safe. The passenger compartment is undisturbed in any way and the car barely moved from the impact.
The next two cars that they plowed into, were both written off as totaled. They looked much worse inside than the Model 3 that took the brunt of the hit.
Now for the bad news, the damage is extensive.. Its currently being assessed at a certified body shop.
The insurance seems to think it will be a repair, but I'm concerned about the extent of it and the fact that this will take months and far longer than any rental coverage.
The adjuster also seems unsure of how to value the car. He casually mentioned maybe 50k.. to which I responded.. wrong Tesla, mine is an LR and was under 50k when new.. before any accidents.

 

[5_+JqckQttqck]

Sorry this happened to you , I hope they got the drunk and lock them up/suspended their license.

That looks totaled to me: repair time, parts lead time, and rental time will be months. People who got rear ended are looking at 3-4 months (search the forum); this has way more damage than the rear ended cars.

 

[OCR1]

Sorry to hear, looks bad.

I’m not following the $50K comment. Is he saying that is what the insurance company would be willing to pay if they declare it a total loss? If so, that sounds reasonable.

 

[Daniel in SD]

Looks totaled to me too. I hope so for your sake.

 

[davewill]

This should be on the drunk's insurance, not yours, so time limits on rental coverage wouldn't apply. His insurance company needs to compensate you for not having a car for the entire time you're without it. If they end up doing the repair, be sure to pursue a diminished value claim, as your car won't be worth as much with an accident on it's record.

 

[ezevphl]

Sorry to hear, looks bad.

I’m not following the $50K comment. Is he saying that is what the insurance company would be willing to pay if they declare it a total loss? If so, that sounds reasonable.

The 50k comment is that the adjuster mentioned he thinks the car is worth 50k, so they aren't likely to write it off.
To me this sounds like he was thinking about a Model S not a Model 3 LR

 

[ezevphl]

This should be on the drunk's insurance, not yours, so time limits on rental coverage wouldn't apply. His insurance company needs to compensate you for not having a car for the entire time you're without it. If they end up doing the repair, be sure to pursue a diminished value claim, as your car won't be worth as much with an accident on it's record.

This is all being investigated now.. police are slow and while I have the plate and name of the owner, it does appear that the driver is different form the owner.

While I hope it will all be on their insurance, there is a chance it was stolen or the insurance denies it or other possibilities.
For now its my insurance.

 

[OCR1]

The 50k comment is that the adjuster mentioned he thinks the car is worth 50k, so they aren't likely to write it off.
To me this sounds like he was thinking about a Model S not a Model 3 LR

OK so he is saying that if they repair it to like new condition he thinks it will still have a market value of $50K even though it has damage history. I would agree that's unrealistic but I would try to use it in your favor to argue for the car being totaled and the loss being $50K or greater.

It would be helpful if they would make a decision quickly so that you could try and buy something before July 1 to get the higher tax credit but they may not be willing to move that fast.

 

[ezevphl]

OK so he is saying that if they repair it to like new condition he thinks it will still have a market value of $50K even though it has damage history. I would agree that's unrealistic but I would try to use it in your favor to argue for the car being totaled and the loss being $50K or greater.

It would be helpful if they would make a decision quickly so that you could try and buy something before July 1 to get the higher tax credit but they may not be willing to move that fast.

I know, I was just thinking about that July 1st deadline. It feels like this is going to drag on for way too long.
I'm seriously concerned they are going to value the car at 45k, the damage at 20k and then spend 3 months rebuilding it. In the end somethign won't be quite right..

 

[gaswalla]

On the other hand, if they are willing to pay up to 50k for repairs, take the check, salvage the car, and buy a new 3

 

[ezevphl]

On the other hand, if they are willing to pay up to 50k for repairs, take the check, salvage the car, and buy a new 3

The problem is I think they want to value it at 50, so it doesnt' get written off.. then offer me or the shop 20-25k for the damage.. which will take all summer to fix. If it can be properly repaired.

 

[davewill]

The problem is I think they want to value it at 50, so it doesnt' get written off.. then offer me or the shop 20-25k for the damage.. which will take all summer to fix. If it can be properly repaired.

They have no incentive to "want" to do that. The lower the value, the less potential liability they have to cover. I think you can be fairly confident the insurance company will not end up overvaluing the car, whatever confusion there might be at the moment.

 

[ezevphl]

They have no incentive to "want" to do that. The lower the value, the less potential liability they have to cover. I think you can be fairly confident the insurance company will not end up overvaluing the car, whatever confusion there might be at the moment.

Their incentive is to pay less. So if its 30k damage on a 40k car, it would be written off as a total and they would pay the 40k. If its 30k damage on a 50k car, they will repair it and pay 30k (or likely less direclty to the shop)

 

[davewill]

Their incentive is to pay less. So if its 30k damage on a 40k car, it would be written off as a total and they would pay the 40k. If its 30k damage on a 50k car, they will repair it and pay 30k (or likely less direclty to the shop)

That's not how it works. They only make the decision to total if the cost of the repair is less than value of the car minus the salvage value of the car.

For example, a $40K market value, $12K salvage value, and $30K repair means they would total it, for a net payout of $28K ($40K to you, $12K recouped from salvage). Inflating the value means they end up paying out $30K (or more if the repair goes over budget). There's no upside for them in overvaluing the car, trust me.

 

[jjh1234]

You should also be going after the other insurance for a DV (dimished value) claim if it doesn’t end up totaled. There are other threads about this process. There is even a company you can hire to produce a DV report.

 

[Sky-Pilot]

Looks totaled to me too. I hope so for your sake.

Agree... the cost of repairing a Tesla is huge. I'd be surprised if it wasn't a total loss.

 

[SoCalDriver]

I agree, looks like a total. Hopefully it will be..a car with that much damage repaired is worth much less and probably won’t be as good as new no matter how good the repairs are. I highly recommend you “encourage” the insurance company to go that route.

 

[ezevphl]

Bad news all around. It will be a repair and will take quite a while.
The a-hole who hit everyone has minimum coverage so a total of 5k spead between multiple cars.
Two of the other cars are totalled and they are already buying new ones, while I wait and hope they fix it correct

 

[Uncle Don]

This is America where lawsuits are a way of life! Get a lawyer and sue the bastard and his insurance company. Just because he has minimal coverage doesn't mean he isn't responsible.

 

[hcook24]

My guess is it's totaled. I went thru something similar and my insurance initially said they could fix mine, but ended up totaling it after the shop did their assessment. I've heard this is common with Teslas based on all the sensors and things built into the car. I hope this isn't the case with yours though. And I hope you catch this mofo and milk him or her for all you can.