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How fucked up?

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2020 Nissan Versa SR
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Discussion Starter #1
I recently had my first car accident with my new Versa SR 2020 fully loaded, thankfully no one else got hurt but me. but my crap insurance totalled it but its 12k estimated for repairs but the limit that my mom left it for barley legal driving in California or commiefornia cuz no ECU modifications are allowed here cuz air pollution are ridiculous strict. ANYWAY! the limit is 15k but I complained to my state and highered the limit to 25k and hoping that should be enough to get it repaired properly. I will provide pictures of the damages to get an opinion and or advice on if 25k limit should be fine for the future or if I need to go higher and to show fucked up I fucked up lol. :cry::cautious:馃槄 Still my Pride n joy for my first car even if its a Versa. 10500 miles and loan started and obtained on January 7th 2020 , accident September 19th 2020
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It seems to me it doesn't take much anymore for an insurance company to total a car. I bought my '16 Versa in Feb. 2019. It had a rebuilt title and only 10546 miles at the time of purchase. I bought it for $5300. so the damage couldn't have been too significant if they could buy the car, make the repairs and still sell it at that price. Depending on how much they're willing to pay on a payout you may be better off if they total it. If they total it you can start over fresh with an undamaged car. A car with an accident on it's record is going to lose some of it's resale value.
 

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Sorry to say, but the damage to your Versa looks extensive. Yes, your insurance can repair it with a $25K limit, but it will raise your insurance premiums for years.
 

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Sorry to hear about your accident, but your post is not too clear regarding your insurance coverage. Read your policy, and it will tell you what your collision coverage is, and also your deductible that you are required to pay. Some policies have a vehicle replacement clause:
How does replacement cost car insurance work?
If your vehicle is stolen or deemed a total loss, you can get the same or a similar model of vehicle as the one you're currently driving. ... "With Replacement Cost insurance, your vehicle would be replaced in case of a covered total loss."

The listed price of brand new fully loaded 2020 Versa is shown below, and an insurance company is not going to pay out more than that in order to fix your vehicle.






2020 Versa SR - $19,265
 

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Pimperell makes some good points. No matter what the limits are on your insurance policy, they will not pay more than the MSRP. Also, at fault accidents not only raise your premiums for at least three years, they also restrict what kind of cars you can realistically afford.

Not sure if the OP is still around on this thread- he hasn't posted anything since he started it.
 

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No idea what you're talking about in terms of your insurance, if it's your own policy or if you're on with a parent. God bless them if that's the case..

I get it that you're young, but why would you want to have $12K+ worth of repairs done on a Nissan product that's got very little value anyway? Well.. to be fair, all used vehicles have more value than ever now with this COVID thing going on.. Someone will snap that car up and fix it on the cheap and sell it with a salvage title. Cheap asses like myself love deals like that.

Nissans historically are expensive to repair from collisions and it's not uncommon for them to be totalled out. One little hit breaks a ton of stuff on them.

Let the insurance process do it's thing, be happy you didn't get hurt and you're not getting sued by anyone.
 

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2020 Nissan Versa SR
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Discussion Starter #7
No idea what you're talking about in terms of your insurance, if it's your own policy or if you're on with a parent. God bless them if that's the case..

I get it that you're young, but why would you want to have $12K+ worth of repairs done on a Nissan product that's got very little value anyway? Well.. to be fair, all used vehicles have more value than ever now with this COVID thing going on.. Someone will snap that car up and fix it on the cheap and sell it with a salvage title. Cheap asses like myself love deals like that.

Nissans historically are expensive to repair from collisions and it's not uncommon for them to be totalled out. One little hit breaks a ton of stuff on them.

Let the insurance process do it's thing, be happy you didn't get hurt and you're not getting sued by anyone.
This AUTO insurance named Infinity/Kemper Auto, No one knows how they work including customer service representatives. this AUTO insurance consider themselves independent and can handle anything. and Dealership was charging a lot more for GAP.
 

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2020 Nissan Versa SR
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Discussion Starter #8
Sorry to hear about your accident, but your post is not too clear regarding your insurance coverage. Read your policy, and it will tell you what your collision coverage is, and also your deductible that you are required to pay. Some policies have a vehicle replacement clause:
How does replacement cost car insurance work?
If your vehicle is stolen or deemed a total loss, you can get the same or a similar model of vehicle as the one you're currently driving. ... "With Replacement Cost insurance, your vehicle would be replaced in case of a covered total loss."

The listed price of brand new fully loaded 2020 Versa is shown below, and an insurance company is not going to pay out more than that in order to fix your vehicle.






2020 Versa SR - $19,265
this auto insurance is below standard and and dosnt offer gap and dealership wanted to charge me a kidney for gap.
 

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2020 Nissan Versa SR
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Discussion Starter #9
It seems to me it doesn't take much anymore for an insurance company to total a car. I bought my '16 Versa in Feb. 2019. It had a rebuilt title and only 10546 miles at the time of purchase. I bought it for $5300. so the damage couldn't have been too significant if they could buy the car, make the repairs and still sell it at that price. Depending on how much they're willing to pay on a payout you may be better off if they total it. If they total it you can start over fresh with an undamaged car. A car with an accident on it's record is going to lose some of it's resale value.
I didn't get gap and the finance manager lied about adding gap after purchase. I want to keep it forever now run it until it can't run no more. Ima refinance it for a lower amount after repairs and a lower monthly. My insurance will pay 17k for it but 4k I have to pay. I rather fix the car and keep working to pay it. not the other way around.
 

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2020 Nissan Versa SR
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Discussion Starter #10
No idea what you're talking about in terms of your insurance, if it's your own policy or if you're on with a parent. God bless them if that's the case..

I get it that you're young, but why would you want to have $12K+ worth of repairs done on a Nissan product that's got very little value anyway? Well.. to be fair, all used vehicles have more value than ever now with this COVID thing going on.. Someone will snap that car up and fix it on the cheap and sell it with a salvage title. Cheap asses like myself love deals like that.

Nissans historically are expensive to repair from collisions and it's not uncommon for them to be totalled out. One little hit breaks a ton of stuff on them.

Let the insurance process do it's thing, be happy you didn't get hurt and you're not getting sued by anyone.
its on my mothers policy and god bless her too.
 

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If you have the cash, buy it back from the insurance company and fix it. If insurance will pay you $17K, they will probably get $6-7K at a salvage auction for it. So you would get a check for $11,000. If your loan balance is $21K, you would need $10,000 to pay off the loan so you could keep the car. Did the airbags blow? If not, you could probably get that fixed on the cheap for $3-4K. So in the end, you would have a rebuilt car for around $14,000. How much more do similar used 2020s go for? $15-16K? Don't think it makes too much sense when you run the numbers.
 

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So in the end, you would have a rebuilt car for around $14,000. How much more do similar used 2020s go for? $15-16K? Don't think it makes too much sense when you run the numbers.
This is not apple to apple comparison. The rebuilt car will have a salvage title, so its fair market value will be much less then $14k. So if somebody totals you rebuilt car, how much monetary compensation will you get for the property damage? Insurance companies do not care how much money it costs you, they only take into consideration the car's current fair market value.

The difference between what it costs you to have a rebuilt car with the salvage title (14k) vs. "normal" used car the same vintage (15-16k) is too small to justify it - in this particular case. So the OP better get all money from the insurance company he can, and run.

I can think about only one scenario where it makes financial sense to have a salvage title car - when you get it so inexpensive that all other contingencies do not matter any more.
 

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This is not apple to apple comparison. The rebuilt car will have a salvage title, so its fair market value will be much less then $14k. So if somebody totals you rebuilt car, how much monetary compensation will you get for the property damage? Insurance companies do not care how much money it costs you, they only take into consideration the car's current fair market value.

The difference between what it costs you to have a rebuilt car with the salvage title (14k) vs. "normal" used car the same vintage (15-16k) is too small to justify it - in this particular case. So the OP better get all money from the insurance company he can, and run.

I can think about only one scenario where it makes financial sense to have a salvage title car - when you get it so inexpensive that all other contingencies do not matter any more.
I bought my '16 for $5300 with a rebuilt title and only 10546 miles. I plan to drive it until either it wears out or I do so resale value meant nothing to me. At the time I bought mine a comparable car without a rebuilt title was running about $8500-$9500. Very doubtful I would have bought it even for $6000 but I'm pretty sure if I had that would have been the maximum I'd have paid.
 

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Ouch, I'll be selling my rebuilt '12 soon and hope to get more than that.
Good luck. My wife is looking for a daily driver now. Today she talked to someone that has a 2017 Versa SV with 29,xxx miles and a rebuilt title and ask what the least was they'd take for it. Their reply was $5300. I'm probably going to go look at it tomorrow. Since they won't know I'm the husband of the one who contacted them if it's a good looking car and something she's interested in I'm probably going to tell them I bought my '16 a year and nine months ago with 10K miles for $5300. and follow up with an offer of $5000. cash and see what kind of response I get. A rebuilt title should decreased the value on most cars 20-40% of book value.
 
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