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Why does there seem to be so many salvaged cars?

Discussion in 'Model S' started by NewCow, Mar 14, 2016.

  1. NewCow

    NewCow Member

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    I feel like I see a fair amount of salvaged cars being scrapped and sold by parts, like this one for example. Why is that? Is it because repair costs are relatively high and insurance companies are more likely to declare it totaled or something?

    One of my fears is getting into some type of minor accident and high repair costs leading to my insurance company totaling my car, and not being able to find a replacement S at comparable cost ($50k CPO) and definitely not the same color (I have the discontinued green).
     
  2. Todd Burch

    Todd Burch Electron Pilot

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    In short, yes, repair costs are high and it is definitely more likely for insurance companies to total a car that otherwise would be salvageable.

    Don't ask me how I know...
     
  3. brantse

    brantse Member

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    I added a rider to my insurance policy, through USAA, that provides a cash payout of 20% of the vehicle's value in the case of a total loss. I figured that for this exact reason, this add on was well worth it's low cost and would certainly make finding a replacement MS much easier.
     
    • Like x 1
  4. chargeshare

    chargeshare Member

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    I have never heard of this before, good to know!
     
  5. mechapreneur

    mechapreneur Member

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    Repair costs on unibody vehicles are high because you cannot unbolt a panel, straighten the frame and bolt a new panel on. They are more complicated to repair and thus more costly. Getting it totaled out is probably better than living with one that's been half-assed repaired and has problems you cannot fix. You should get reimbursed from your insurance company for the amount it costs to buy a comparable car (same model, features, miles, age).
     
  6. theslimshadyist

    theslimshadyist NashVegas!

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    It's because people keep engaging AP and the car goes berserk! ;)
     
  7. davidc18

    davidc18 Member

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    I just checked and we have the same rider on our MS with USAA.
     
  8. artsci

    artsci Sponsor

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    I hate to raise the question (no doubt flak will ensue:)) but could it also be that average Model S owner driving skills are not up to the performance capabilities of the car? We had that problem in the S2000 community. Many drivers just could not handle the car at the extremes of its performance.
     
  9. dlv1984

    dlv1984 Amp'd

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    I got gap insurance from my bank when I was arranging financing, it only cost a 1-time $350 charge and it covers any difference between what I owe and what the insurance company pays out in the event of a total loss.
     
  10. brianman

    brianman Burrito Founder

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    I wish I knew to get a "new car replacement" policy when I got my Sig. I didn't research it until a few months after purchase, and thus didn't qualify.

    For my P85D, I scouted before taking delivery and found the following:
    New Car Replacement Coverage - Auto Insurance | Travelers Insurance
    IIRC, there is a cap ($120k, I think) but check the formal paperwork to be sure.

    What's interesting with Tesla is that the closest match for "same make and model" is already at least a P90D - probably with a whole mess of minor upgrades relative to my Dec 2014 P85D. If catastrophe happens in 2017 or 2018, who knows what wonderful gadgets will be in the comparable Model S by then. :)
     
  11. labfm

    labfm Member

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    I do find these threads mildly amusing. What does "so many" mean?

    100 salvaged cars out of the 50K sold in the US (0.2%)?
    500 salvaged cars out of the 50K sold in the US (1%)
    Maybe it's 1000s out of the 100K sold globally? (<0.1%)

    Where do you think the number is? I personally haven't seen or even heard of 100 salvaged model S's but hey, I have no idea how bad it really is

    Lastly though, how does this number compare to the "average" % of salvaged cars for other manufacturers?
     

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