Totalled car question....

[Unicorn Jeff]

My mom's car just got totalled out. She still owes $15,000 and it's worth $19,000. They just said they'll give her 21k. Does that seem fair or should she ask for more? We've never been in this situation.

[mstng86]

They are offering more than its worth?

[black2002ls]

Worth $19K. Is that book value, or cost of replacement?

[yellowstang]

They are offering more than its worth?

Worth $19K. Is that book value, or cost of replacement?

Both those. Check what a local dealership would sale one to her for, and use that as a guide too. If they offer more than KBB says, and what you can pick up a similar one for, take it!

I was in a similar situation on the stupid BMW I bought. 2 weeks after buying it, totaled, and got 2.5K more than I paid, so I was happy.

[paul_376]

Ask for 56,000

[Big A]

It's car insurance, not a lottery ticket.

[A_A_G]

She's being offered more than the car is worth and she has equity. What's the problem here?

[Craizie]

Sounds fair to me. You stick it to them with the pain and suffering/mental anguish. Make sure to get a neck brace and post photos.

[Stng5Pnt8]

My mom's car just got totalled out. She still owes $15,000 and it's worth $19,000. They just said they'll give her 21k. Does that seem fair or should she ask for more? We've never been in this situation.

They are offering more than it's worth, looks good to me.

Sometimes it depends on the vehicle, if for any reason they can't get comparable rates, they may use private seller value which is usually more.

[blandnuts]

Sounds fair to me. You stick it to them with the pain and suffering/mental anguish. Make sure to get a neck brace and post photos.

Next, we'll work on how to divorce.

[Cooter]

At $19k, $21k is still over the OTD price.

Total loss claims cover replacement cost. That's the cost of the vehicle, TT&L, and the travel/time/logistics to actually purchase it

[GE]

Is this a trick question?

[347Mike]

Honest error.. Give them back $2,000 and tell them there must be a mistake.
or
Act as a Nigerian scammer and offer $2,000 to a random stranger but they have to retrieve it from a undisclosed bank account.

[Juiced4v]

Take the money and run

[TeeShock]

Gonna need to see pics of mum for fair barg assessment