Car total loss - Need advise!?

Question

Third party Statefarm insurance is going to total my car. Here is the problem.

1. How to find the ACV value? Nada Clean-Retail or Clean-Tradein?

2. I spent over 500$ after I bought this car recently.Is there a way I can get this back with receipts?

3. What if the ACV value offered by them is very low?

Car is KIA spectra 2004, 130K miles. Was in exceptional driving condition with all new drive and timing belt. Transmission flushed recently.

Nada has the following
Rough Trade-In -   $1775
Average Trade-In - $2525
Clean Trade-In  -   $3125
Clean Retail     -   $5025

I am expecting them to match the retail price atleast 80-90%. Will they make me to settle for trade-in range? Obviously, I will have to pay Retail price for a replacement car and not the trade-in..

Any Statefarmers here? Thanks.

Really ? · Accepted Answer

You are a big dreamer if you think you will recover 80-90% of retail cost. You will get about wholesale cost for the car making no difference how much you put into the car. I didn't even get 1/2 of what I put into a totaled car, but thats life.

oklatom · Answer

You will get fair market value, which has nothing to do with NADA really, it's the average of what similar vehicles are selling for in your area.

The money you put into it was maintenance,and you won't get any of that back.

They will tell you what they consider fair market value, so do your home work so you will know if it's a fair offer.

ken k · Answer

3 grand/and take it/or tell them to replace it

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Car total loss - Need advise!?

3 Answers