Quote:
Originally Posted by NickFRS
Depends how much damage is done... My car had 12k in damage on a 25k car. I was also out of a car for 3-4 months while parts came in from japan. Also 4/4 dealerships I went to marked down my car 25% of value due to the accident after it happened. Another 3 more grand and my insurance company would have totaled the car. Plus I live in Oregon so there is nothing in court here. My insurance company accepted my claim and paid me within 2 weeks. Just incase he later wants to sell the car you might as well get the money while you can.
*edit* every state has different laws or ways of seeing diminished value
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My point is that it's not about the numbers. How much is the shirt on your back worth right now? Nothing or everything, depending on how YOU feel about it. But try to sell it and you see what the real value is in real-time, because then whether or not you get what you feel is right, or more or less, depends on the market. It's good that your insurance company gave you more money, you've certainly paid into them. My point is that it's not cut and dry every time, value is intangible unless defined by something else. A wrecked and restored vehicle that is in high demand and hard to get could easily increase in value, it's all supply and demand.