My truck is "totaled"...now what?

[dutchmanz]

I was sitting in my truck in a parking lot last week. Some woman jumps the curb, cuts down a light pole and flips her car. Luckily... my truck stopped her forward motion. I was punted out of the parking lot into the grass lot beside the store, over a curb, side swiping a metal sign. The adjuster says its totaled. I understand how it all works, but it sucks for me. Do I fix the truck or use it to fix another truck with a clean title? Would you buy a truck with a salvage title? I probably wouldn't if I was planning to fix it. To me, it kills the value. They value the truck at $5127.50 but cant tell me yet what my payout or buy back price yet. I know I can fix the truck with used parts for less than they will give me but in the end I may have $10K or more in a truck with a salvage title. It really depends on how nice of a truck I decide to make.

The frame doesn't appear to be bent but the bed it shot. It buckled the floor and twisted it up about 3" on the left side. I can skin the door (I think). The cab is also bent where the bed hit it. The truck was a perfect running and driving 71 Custom Deluxe that I bought from the original owner. Some usual rust but an original truck.

[71meangreenc10]

If it were mine and the frame was ok, I would rebuild it.

Smitty

[Ken O.]

Originally Posted by 71meangreenc10

If it were mine and the frame was ok, I would rebuild it.

Smitty

I think the same. Keep it, fix it.

[67 chevelle]

If you really like the truck keep it and drive it - fix it , the pain comes from dealing with dot and the tag office , in floriDA its a reel pain ,Im going thru it now , thanks to state farm , wait till you see what they will give you for it , its a joke ,, plus having to deal with dot[roadworthy inspection] and tag + title

If I had to do it again Id take the joke offering they made me , and find another truck

[cdowns]

try to not accept a total on that truck have a bodyshop go to bat for you for a settlement to fix it instead of the totaling syndrome// it would be in your best interest in the long run to have a fixable repair rather than a total/// lots of timesd having an impartial 3rd party like a shop owner is much better when dealing with the appraisers

[dozerbill72]

In most cases if the vehicle over 9 years old the insurance company is not going to ask for the title, or are they required to report it to the BMV. I would have a talk with your insurance man and find out the laws in your state. I have had this same thing happen to me 3 different times and all 3 I bought the vehicles back and they still have a clean title. It comes down to morals when you go to sell it that you tell the new buyer its past. I look at like you are just getting a check to fix it. They total this old stuff out much faster because they don't have an app on their phone to figure it for them so they aim high. If you like the truck fix it and keep it.

[cypressbog]

Don't accept their first offer as $5,127 seams low compared to what these trucks are selling for. NADA says low retail is $7,975 and Old Cars Report Price Guide says $9,450 in #3 condition. Get as much documentation showing your side of the argument for the adjustor. Get as much as possible and threaten to take it to court if they want to play hardball.

I'd let them keep the truck too. No-one wants a salvage title and I'm willing to bet you have some frame damage with the way the bed floor crumpled.

[Aruba1]

If it's total then I probably say to contact your DMV to see if you can fix it and get a rebuild title. Fix it, drive it and when it's time to sell it put it on ebay. You could end up selling it to someone from Alabama (as an example) where we don't have titles on this year truck. The damage seems minor to me.

[undertaker72]

I wouldn't take there first offer either , get on auto trader , ebay , and craigslist document same truck comparables , tell them to match or come close , you never asked her to hit you, this is the reason I have my vintage trucks and cars insured at a set amount with my agent , not everyone can do that , the bad thing is you are dealing with theres not yours , time to play hard ball , get your ins agent to build a fire under the others , let me ask , do you have underinsured on your policie , so if someone hits you and don't have enough coverages it helps fill the gap , not uninsured , underinsured

[hugger6933]

I build wrecks for a living and for the most part the salvage title does hurt the value but not as much as you would think. I would build that truck in a second I would buy that second at my sale to build. Don't take their first but don't threaten them as soon as they get out of their car either that usually ticks them off and hurt you on the money. Won't that tick you off?

[brad_man_72]

My wifes jeep got totaled, she didn't have to get a salvage title.

[factorystock]

Originally Posted by dutchmanz

Do I fix the truck or use it to fix another truck with a clean title?

Everytime I hear this happening, same response. Insurance companies usually always salvage out a 45 year old vehicle. Why go thru the trouble of the repair process and still end up with a vehicle with a salvaged title? IMO, time to upgrade to another vehicle with a clean title. Get as much as you can from insurance co ( document what other comparable trucks sell for ) and start looking for another. If your really into this body style and have extra room, you could buy it back the "salvaged vehicle" and keep it for parts only. Or if you want to move on into another series ( '73+ ) here's your chance.

[dutchmanz]

I've heard different things about the laws in NC. My understanding is if the repair cost is over 75% of the value, it gets totaled. They will report it to the DMV and they will brand the title. No hoops to jump thru, I can just fix it and keep on driving. There is not any inspections to put it back on the road that I'm aware of. I just bought this truck in November because it's what I wanted. I honestly think the value is not far off the local market for a long bed. I would like to see more and I'll definitely push them some before I settle. I am considering finding a short bed and using this truck to fix a C30 project I have on the back burner.

[dubds10]

$5200 is a good offer for that truck. Personally I'd take the cash minus the buy back on the wreck & part it out or fix it just a cheap truck. Of course argue & try to get more but I think that's a really good offer, at least that's more than market value in my area. Lots of old trucks have rebuilt/salvage titles for various reasons not always a crash so on classics I don't find that match of a price difference.

[kwmech]

Originally Posted by dubds10

$5200 is a good offer for that truck. Personally I'd take the cash PLUS the buy back on the wreck

Fixed it for you

[Grumpy old man]

Always check when buying insurance if your covered for

ACV = actual cash value

RCV= replacement cash value

and an agreed upon cash value on total loss/ theft . It doesn't really cost that much more on a multi car policy .

[cooperhw]

From the looks of the rust showing on that tailgate that would have been a hard sell for that price before it was wrecked.
You could take the money and probably buy it back for $500. They don't want it or want to pay to haul it off to the crusher. Fix it back for a dump/home depot runner for cheap. Use the rest of the money for a better platform for a better build if that is your long term goal. JMO

[SuperC10Tex]

I could fix that!!

[dutchmanz]

Originally Posted by cooperhw

From the looks of the rust showing on that tailgate that would have been a hard sell for that price before it was wrecked.
You could take the money and probably buy it back for $500. They don't want it or want to pay to haul it off to the crusher. Fix it back for a dump/home depot runner for cheap. Use the rest of the money for a better platform for a better build if that is your long term goal. JMO

Funny thing is you couldn't see that rust behind the chrome molding that was on the tailgate. I wish I lived in AZ where rust isn't a problem, but in NC this is about as good as it gets unless you want to spend $10k.

As for all the other advise, thanks everybody. I have one other option I'm looking into. I'll see what happens next week. I'm keeping the truck either way, what I do with it is still not decided. I've got a place I can get some good used parts so I'll probably fix it as a good driver.

When it comes to insurance, the DMV states some ins companies will only offer limited coverage or refuse coverage on salvaged vehicles. It may change from state to state and company to company.

[AWKS1]

Originally Posted by cooperhw

You could take the money and probably buy it back for $500. They don't want it or want to pay to haul it off to the crusher. Fix it back for a dump/home depot runner for cheap. Use the rest of the money for a better platform for a better build if that is your long term goal. JMO

this.

[smiti7]

Originally Posted by dubds10

$5200 is a good offer for that truck. Personally I'd take the cash minus the buy back on the wreck & part it out or fix it just a cheap truck. Of course argue & try to get more but I think that's a really good offer, at least that's more than market value in my area. Lots of old trucks have rebuilt/salvage titles for various reasons not always a crash so on classics I don't find that match of a price difference.

I second this idea, plus your buy back will be cheap. Probably less than $1000. Now you have, say $4200 and your old truck to do what you want with. I had experience with two totaled vehicles in the past and both times I got the vehicles back and kept the titles and they stayed clear, not salvage. Good luck!

[Nitis]

The biggest hang up I know of on salvage title vehicles is the insurance. not sure if that varies state to state I doubt it but If I recall correctly even with full coverage insurance any future claims you can only get like 30% value!

SO if youre just throwing together a driver might not be a big deal if you are restoring to something of value you better get a clean title

[71swb4x4]

Originally Posted by Nitis

The biggest hang up I know of on salvage title vehicles is the insurance. not sure if that varies state to state I doubt it but If I recall correctly even with full coverage insurance any future claims you can only get like 30% value!

I am 99.9% certain this is not true, but I am willing to read whatever documentation you have. I have been wrong before.

I should add that I have owned several repaired salvage title vehicles. All of those I have had bank notes on, and thus full coverage.

[Nitis]

Originally Posted by 71swb4x4

I am 99.9% certain this is not true, but I am willing to read whatever documentation you have. I have been wrong before.

I should add that I have owned several repaired salvage title vehicles. All of those I have had bank notes on, and thus full coverage.

I didn't ask for documentation as this was just an in jest conversation with my insurance guy maybe it was their own deal I have no idea but I would surely have something in writing if I was going to proceed

[zeldman]

Glad to hear that there were no injuries.

Take the cash and the truck. Tell the adjuster that you will haul it away for free, but you will need the title.