Quote:
Originally Posted by soundman98
So a $10,000 car getting dinged in a parking lot could very easily be totalled with $5k worth of a replacement bumper cover, a fender, some paint work, and the labor to install it all. some guy buys the car back, does the all the labor for 'free', maybe pulls a favor for the paint work, and suddenly an official estimate of $5k of work becomes $1500 in parts...
|
Yea absolutely on low end cars. My son's first car was a well used Volvo C60. Ran and looked great but it was 15 years old. He was rear-ended with only damage to the trunk lid and rear bumper, no structural damage. But, it was a $3K of repairs on a $5K car, according to insurance so it was totalled. We ended up making money on the deal because the insurance company gave a 10% bump for a totaled vehicle which resulted in us getting back more than we paid for the car.