I agree with most of this, except the pre-accident value of $30k. That's too high in my opinion. That number is much closer to $20 than to $30.
If the air bags blew, (can't tell from pics) it will be a total loss.
If the frame is bent (probably not, but needs to be checked/inspected) it will be a total loss.
If State Farm (great, fair company) declares a total loss, come back here and update us. I'll give you further advice how to negotiate with their Total Loss Department.
Glad no one was injured.
This is why I never let just anyone drive my Porsches.
This is why I most always decline driving other people's cars, when offered.
Ill know more next week ? :huh:
The airbags did NOT go off, but considering the left rear wheel violently hit the curb as we did a 360 spin, (unseen damage, the back "looks" fine ??? )
I'm thinking unseen damage to the trans axle, motor , rear suspension etc "White 987S ", not to mention the front end , steering, radiators, right frt wheel rim bent, and more.
So far it really looks like a write off/ total loss. When I looked on line a basic 2 wheel drive, 2002 -996- 911 is going for anywhere from $19K to $ 28 K depending on mileage and condtion. Please bear in mind this car was in VERY good shape and only had 26, 850 miles on the clock, lower mileage than any similar car I could find on line, although supposedly State Farm takes that into consideration ?
My friend also mentioned to me, if and when I get paid off ? I should ask State farm to buy it back, as he thinks they would sell it back to me for $2,000 or $3,000 as is ? Just telling them I want it for parts etc.
Point is this crash will be on Carfax, ref police report (it's like having a criminal past, LOL ) so selling it in the future, would be a hassle, even if my friend and I buy it from State farm, try to get it repaired, and re-sell it ? Please let me know any advice as you say here : "If State Farm (great, fair company) declares a total loss, come back here and update us. I'll give you further advice how to negotiate with their Total Loss Department." Unquote.
Any further advice on any of this will be MUCH appreciated as I think they will make me an offer next week. :help:
At this point, I don't think I want it repaired , would you ? Any other advice from you guys will be appreciated. Thanks Dave.
Mileage and condition will play into your settlement (IF considered a total loss) but not like you think. It may add a couple thousand dollars. Not $10,000.
Everything is negotiable. Have all your receipts (maintenance, tires, mods, everything). Have comps ready. Search high end places like Sloan, RPM, the PCA website, the PCA magazine Panomara. Prove your car's market value.
STOP listening to your "friends". They are giving you poor advice. You can not buy the salvage back from State Farm for $2-3,000. Depending on your state laws, you may have the opportunity to purchase the salvage for about 27% (+/- 2%) of the total loss claim value. So if they value your car at $24,000 you can buy the salvage for about $6,480. Then what are you going to do with it?
That's something I'd NOT be interested in. Fixing and owning a salvaged car. Maybe unless I wanted to convert to a dedicated race car, or something.
If your car was highly desirable (like a 993 or 993 Turbo), you could probably buy the salvage from State Farm, and flip (sell immediately) to a third party (high-end salvage buyers), and make about 10-15% over your salvage buy out. But I don't suspect there is this kind of market on a 996.
Negotiate and negotiate hard with State Farm if totaled. Be persistent, professional and very prepared. Don't accept first offer. Don't lawyer up, you can do this on your own. They should also (depending on your state laws) include in the final settlement retail sales tax and licensing fees into the final settlement. Don't bring this up until the very end.