Buy back totaled vehicle from insurance company

Discussion in 'Truck & Equipment Repair' started by canoebuildah, Feb 22, 2008.

  1. canoebuildah

    canoebuildah Senior Member
    Messages: 125

    One of the subcontractors working on my work property was speeding on an icy road and sideswiped the entire driver's side of my 96 F150. The damage is on the front fender, the driver's door, the length of the bed and he grabbed the rear step bumper. I also have a alum/steel cap on the truck which is now cracked and twisted. He was driving a Jeep Wrangler.

    I brought it to our body shop and they gave a quick estimate of $3800-4000, not including the cap and assuming the door frame is does not need straightening. That brings it quite close to the NADA book value. His carrier's adjuster has not come out yet but I assume I will see someone early next week.

    The truck has only 93k miles and was in quite good shape, both body and mechanical before this accident. If it does get totaled, how does it work for us to buy it back? Also, is the cap considered part of the vehicle or is it considered an accessory? I'd be interested in keeping the truck and putting a flat bed on it.
  2. EaTmYtAiLpIpEs

    EaTmYtAiLpIpEs 2000 Club Member
    Messages: 2,590

    Well you can buy it back but they will total it. It will be a salvage title when you get it back. They should give you the option to keep it.
  3. exmark1

    exmark1 Addict
    Messages: 1,319

    Depending on how the insurance company works you maybe able to get it back and still keep the title clean
  4. Second Look

    Second Look Junior Member
    Messages: 6

    It veries from state to state how they handle this. I know in NY if you want to keep the vehicle you can "buy it back" for an amount determined by the Ins Co. I know a few peopel that have done this and its ussually @ $500 or so. Title stays clean, they give you a check for the amount minus the $500. So if the truck is worth $3600, teh quote is $$3800 they would give you $3100. With the amounts of the value and quote being so close I dont think the Ins Co would dispute fixing it though. As for the cap, if it was there when you had the accident the Ins Co has to compansate for it.
  5. bike5200

    bike5200 Senior Member
    from Ky
    Messages: 419

    You should be able to buy it back, the title might stay clean or it might be branded, it will depend on the insurance company. If you can fix the truck your self you should be able to pocket some money. You will have to find used parts to do it and it will depend how many years Ford made that truck with the same body style, how much parts will cost. My work truck and the car my wife drives have Branded titles, I bought them at a auction and rebuilt them. I have a 06 Malibu hit in the front, in the garage, looking for a Malibu hit in the rear so I can fix the 06. Cars are going for more than I can believe, but buying a car will be cheaper than buying parts and if parts are left over I can sell them or my friend will buy another wreck car and we will fix that. :drinkup::drinkup: