Accident 2 weeks ago. (Should I Repair or Sale my Honda CRV-EX 2010)

[hniHnitsuJ 8]

Hi All,

I need your advice and help please. My wife was involved into car accident 2 weeks ago. It's her fault.

Our insurance estimated $14,000 to fix the car. (Since we owe a Bank $15,000. and we have decided to CASH-OUT, and paid off to the bank).

My question is someone offers only $7,500 to buy off my Honda CRV-EX 2010.

About the damage for Honda CRV.

- Clean title

- Engine is still good, and radiator this working.

- 16,000 mileages.

Damages need to fixes.

- Internal frame, and external frame.

- Bumper, and etc.

- Airbag sensor is not working, and etc...

What you ALL think I should do? If I am deciding to sale the car, what is the best price? Since the engineer is good, and low mileage.

How much do you think I should fix this car?

Here are some pictures.

Thank you so much for your advice and help.

[Anh map 2,098]

Are you paying off the car note and collecting from the insurance? Or are you totaling the car out with the insurance and paying off the remainder? In other words are you getting title to the car, or just paying any balance owed after the insurance?

Frame damage is the big thing here. Scares off a lot of buyers.

If repairs are 14k, was your car worth 21,500 before the crash? That's top value on Kelly Blue Book. With frame damage not likely to get that much if completely repaired.

Edited December 12, 2011 by Anh map

[AMP 54]

Usually you have to sell it as a salvage car about 1/2 the value. I really don't know why people buy salvage, since it could put you or your loved ones in danger on the road or the next time your wife hits someone. Thankfully and hopefully she is okay, the most important thing.

[Dai. 7]

The airbags didn't pop out when she wrecked? That is a major lawsuit you can go after honda with. An employee of mines wrecked his Chevy suv and the airbags didn't deploy. He went after chevy and they gave him a brand new car with out paying for it. Insurance gave him money to pay off his wrecked car and chevy gave him a new car.

[Dan_P 5]

It will have a clean title, not a salvaged title? Anyway, I wouldn't fix it, if someone wants to buy it outright, sell it as is and disclose the issues.

Edited December 12, 2011 by Dan_P

[GobbleGobble 0]

Hi All,

I need your advice and help please. My wife was involved into car accident 2 weeks ago. It's her fault.

Didn't your wife hit a light pole before? and you were sent a bill by the City? If the answer is yes, wow, your wife is one scary driver!

You should have had your wife switch mode of transportation to "public" but you refused to listen by buying her another almost "new" vehicle (2010 CRV).

Edited December 12, 2011 by GobbleGobble

[GobbleGobble 0]

Didn't your wife hit a light pole before? and you were sent a bill by the City? If the answer is yes, wow, your wife is one scary driver!

You should have had your wife switch mode of transportation to "public" but you refused to listen by buying her another almost "new" vehicle (2010 CRV).

Here's that post from you:

http://www.visajourney.com/forums/topic/306379-billed-for-damage-to-city-property-79216/

Time to re-evaluate her "risk" for adding her to your car insurance policy!

[Deputy Purple 1,294]

Here's that post from you:

http://www.visajourn...property-79216/

Time to re-evaluate her "risk" for adding her to your car insurance policy!

Oh wow!

I guess the OP regrets changing his mind about the wife driving his CRV!

So this is the second time in less than a year that his wife has hit another car (in the other thread she only hit the pole after RUNNING A RED LIGHT to HIT ANOTHER CAR)! I don't want to know what his insurance rates are now...

Edited December 12, 2011 by Bob 4 Anna

[Darnell 8,479]

i thought 'cash out' meant that you take the settled amount from the insurance company, and in this case you give that money to the bank,

and then

the bank or the insurance company takes the vehicle - yer done.

Is not really any concept of 'you sell it to someone else' here, as the bank has the first lien, and in order for you to 'get the monies' from the insurance company - you have to surrender the vehicle to the insurance company.

I could, of course, be wrong, but that's how it works in Tejas. YMMV, greatly.

Good Luck !!

[unca Darnell say - get a Volvo 740 turbo wagon for her next car]

[hniHnitsuJ 8]

Are you paying off the car note and collecting from the insurance? Or are you totaling the car out with the insurance and paying off the remainder? In other words are you getting title to the car, or just paying any balance owed after the insurance?

Frame damage is the big thing here. Scares off a lot of buyers.

If repairs are 14k, was your car worth 21,500 before the crash? That's top value on Kelly Blue Book. With frame damage not likely to get that much if completely repaired.

Yes, Anh Map, and All.

I received the money from the insurance, and I did paid-off the Orange County Bank Loans.

The value of my car worth $24,000, and it's not totally loss. That is my insurance is pay me $14K to fix.

The title of my car is CLEAN, not salvaged title. (because the engineer is good, and airbags didn't pop out)

[Anh map 2,098]

Yes, Anh Map, and All.

I received the money from the insurance, and I did paid-off the Orange County Bank Loans.

The value of my car worth $24,000, and it's not totally loss. That is my insurance is pay me $14K to fix.

The title of my car is CLEAN, not salvaged title. (because the engineer is good, and airbags didn't pop out)

A CarFax report will show the wreck. If you've got the title then it's decision time. What can you afford to do?

[Dan_P 5]

I personally wouldn't drive a car with frame damage. Not worth it. If you sell the car as is, expect to take a huge. loss, even if the car was worth $24k, even fixed, it just lost quite a bit in value. Now, selling it as is, if the insurance paid you. 14k, then figure someone else would have to pay 14k to get it fixed. And that's assuming that there isn't more problems than what the adjuster saw.

[JimVaPhuong 4,863]

Yes, Anh Map, and All.

I received the money from the insurance, and I did paid-off the Orange County Bank Loans.

The value of my car worth $24,000, and it's not totally loss. That is my insurance is pay me $14K to fix.

The title of my car is CLEAN, not salvaged title. (because the engineer is good, and airbags didn't pop out)

You mean the value of your car WAS $24K before it was wrecked. It's not worth anywhere near that much now. Even if you paid for all of the repairs it wouldn't be worth that much because of the frame damage.

Cars aren't designed to survive a crash in repairable condition anymore. They're designed to absorb impact in a way that destroys the integrity of the car while protecting the passengers inside. Most cars that are even a few years old are a total loss after even a minor collision.

$7500 sounds like a pretty good offer, but shop around and see if you can get a better one. If not then I'd take that offer.

[unca Darnell say - get a Volvo 740 turbo wagon for her next car]

I'd say a mid 80's 240 wagon would be even better, given her driving record. Nothing better for a risky driver than a gutless Swedish brick!

[Dan_P 5]

You are essentially only losing about 10% of the car value due to it having frame damage. This doesn't seem so bad. Of course, if you can get more, go for it. But like Jim said, you can't expect the full value back for a car with frame damage.

[Dai. 7]

You can go after insurance for deminished value after a wreck. You have to get your car appraised and they have to give you a value before wreck and the value of it's current condition. Insurance will pay you for the depreciation on the wrecked vehicle. Go to autoloss.com and they specialize in deminished value claims like that. I used them before with great success. Read up on their website and they will tell you all about it.