One month Prius Total Loss

That stinks. It's unfortunately that you're probably looking at getting scewed because a replacement Prius is likely going to cost more than your original. I wonder if you'd have luck getting "fair market value" for your Prius? By that I mean actually get more out of the car than you originally bought it for because the market is higher? ...after all, if it was the other way around they wouldn't have a problem with giving you less.

Mike

 

Ouch:frown:! Glad to hear that everyone is okay though. You should be able to get back most of what you paid. Cancel the extended warranty now (like right now!) if you bought it so it will be pro-rated. Hope you bought GAP insurance for a situation like this. If not, I hope you can get it nearly paid off. Someone in MD just got a Prius with only a 3 week wait at Waldorf Toyota. If you need one quick, check them out. It's only a 4 hour drive from NYC to Waldorf. Good luck!

 

i feel bad for you and please update this thread how your experience goes.
it is like my worst nightmare owning a new car.

 

You've got my sympathies. That really bites!

With so few miles on the car, I'd expect at least what you paid for it. However, I'd also demand a CCC valuation on the car, don't let them foist "book" values on you. The CCC is supposed to represent current market conditions. That might help you get back some of the premium that you're going to pay on the new one.

That said, I'm not sure that the insurance company is going to pay more for the car than you did. This is kind of rare in the car world for a car to be worth more today than when you drove it off the lot.

Are you working with your insurance company or the other driver's? If you're not working with yours, you might want to get them involved, that is after-all what you pay them for. It sounds like the fault question here is pretty cut and dry so you don't really have much to loose and everything to gain.

Good luck!

 

Wow, that stinks.

I dont know the laws with insurance in your state, but, you should get what it would cost to replace the car, Good luck making a case for the waiting time, but I have been told that people are selling their new prus for more than they paid shortly after purchacing new. Your car should be worth more than msrp at the time of the accident. If you dont think youre getting a fair shake, dont be afraid to haggle for what you deserve

good luck

Dominic

 

someone just hit me on my passenger side front, fender a bit....and the cost of repairing is 4000....

 

Bummer...

 

Sorry for your loss.....
Is the damage really that bad which cost over $20k+ (replacement cost of your 31-day old Prius) to fix?! Did the Gap insurance kick-in as well?

With $4 gas and keep raising, this Prius 'storm' won't be ended anytime soon.

 

No, you DEMAND that they pay whatever it takes for you to buy a used (or new!) in similar condition to the car that was destroyed. I.E. a car with 900 miles that is essentially new.

I sense you will be uncomfortable with making DEMANDs, so is there anyone, relative or friend, who is assertive and can help you with this ?

Usually (at least here in Canada where lots of things are different), you don't have to pay a deductible for total loss of car, especially if it is 100% not your fault.

 

Oh my god! sorry to hear that and glad that u and ur baby are ok and ur insurance will pay u full price. was it the other driver's fault? man this is bad.

 

They hit you and you're dealing with their insurance Co. paying for it. And they are lucky you aren't hurt.

You are indeed in an unusual situation because you can't buy a replacement even if you wanted to. A 2008 month old Prius with 900 miles is worth more than it was purchased for. We are all driving off the lot with increased worth. A normal situation is to get the money and go back to the dealer, buy a car, and have it perhaps immediately. But what do you do for perhaps 6 months waiting for a replacement Prius?

$24k is nice, but then pose to them exactly how are you supposed to replace your car. As much as I hate to say this as I dislike over-litigation, you may need a lawyer (which of course you can tell them and that they will be paying the legal fees when all is said and done.). The out of the norm inconvenience here deserves compensation. This is where a lawyer comes in. To me, I would want them to find me a new Prius in my color and Pkg I had, or pay for a rental car for as long as it takes to order one. (and pay for the excess gas you will have to foot the bill for over the Prius).

By the way, if you were hit in your pristine 1971 Plymouth Cuda convertible that you are the original owner of, should they pay you what you paid for the car, or the $150,000 its worth. That "never pay more than you pay" seems like crap to me.
Cars can appreciate in value!

 

I checked Yahoo autos, which gets it's data from cars.com. There seemed to be plenty of package #2 choices in your area under $24K. I'm surprised they are giving you the full paid for price. Personally, I'd take the money and run.
As stated above, have the insurance company find you a new Prius in your color.

ZC1

 

In this market the online inventory listings are inaccurate - they include cars en route to the dealer that the dealer has already assigned to a willing buyer.

 

In my opinion, adjuster manager is giving you baloney and he knows it. He's haggling/bargaining with you. Perhaps those who do something "dirty", like starting to complain to the company that their neck hurts would get a faster, better settlement.

In my opinion, you should push this as far as you can, at least within the next 30 days or so. But don't feel rushed; they are the ones on the line for as yet unknown total damages and they want to rush you to sign their papers absolving them of any further responsibility.

Yes, it's unusual. Cars don't usually appreciate, especially so quickly. This is why I do not have "Gap Insurance" or whatever they call it, that will give you "full replacement value for a new car", instead of "fair market depreciated value".

The normal insurance principle is that they must give you cash enough to buy used a car in close to identical condition, miles and age, even at inflated dealer prices.

If they say "We'll give you X dollars", you say to them "Where can I buy an identical Prius from a Toyota dealer with 900 miles or less at that price?".

At 900 miles, I'd recommend you call local dealers and tell them you need a new 2008 (or one with 2000 miles or less) in this color with these options and that you need it within 30 days. Give me your best price. If dealer says it's impossible, tell him insurance is paying and perhaps they'll suddenly find one for you at $5k over MSRP. (But that's insurance problem, not yours.)

Or give me your best price for a 2009 and tell me what it will cost to rent a car until the 2009 comes in.

You take those prices to the insurance company and say "Here are the quotes". Cut me or the dealer a check for this much please...

Hope it goes well. Don't let them get you. Keep us updated...

 

I love all this "demand this, demand that" language without anyone having a clue what the policy says or what OP's state law is.

 

Definitely spend time re-reading your insurance policy and be clear on what you are entitled to. If you need to, check with the agency that regulates car insurance in your state and find out if you have any rights you might not be aware of.

Whose policy does the compensation come out of in a case like this--yours or the other driver's? If your insurance company has the ability to go after the other driver's policy for additional money, then they should be willing to do it.
Remind yourself of all the money you pay every month in insurance.