I understand why you disagree with my statements. I rebuild the older Toyota's trucks and sell them as a hobby. I know what the stock ones go for in my area, as mentioned I would have asked $3500 for yours, and not likely to have taken less. Unfortunately insurance companies are like cheap car buyers, they will look up the Blue Book price, and tell you the good private party price is all that it is worth. I have had atleast one of these types look at every rig I have sold. I simply tell them go and find one as clean as the one I have for the KBB price and I will sell them mine for the same price, none of them have ever come back.

If you have all of the reciepts of the recent service you might be able to get more from the insurance if your truck meets the level of KBB for a dealership. Dealership prices tend to be $1500-2k over private party adds, if yours would meet this level you might be able to justify to the insurance company that it was worth more. When getting estimates for the repairs you should take it by a dealership and see what they would have considered selling it for. At any rate it is going to be hard to get the insurance company to pony up more money than the KBB for it, they don't have to return you to the exact position you were in prior to the accident, just close, and the $2400 in their opinion is all they have to pay, unless of course you suffered any injuries.

If you want to keep the truck, I would get the insurance company to pay for the amount of damages up to its value, and then fix the truck myself. A used bed shouldn't be more than $1-500, and a new/used rear bumper about $50-200, leaving the rest for paint.

Can you post pictures of the damage, I can't understand why the adjuster would be wanting to total the truck for a rear bumper and quarter panel, or even replacing the bed and painting it.

Insurance companys automatically total a vehicle when the cost of repairs exceeds 80% the value of the vehicle. If they are offering you $2400 then they assume that the repairs will cost at least $1920. I would take the $2400 total and buy back the truck for the salvage value and get it fixed with the remaining money. If they refuse to let you buy it back then get an estimate for less than $1920 and they should pay it and let you keep the truck.

Doug, I can understand why you would take umbrage over the feedback you are getting ($4K in maintenance and refurbishment does not make it worth $4K), but that is the way it is with automotive. DAMHIK. I got around this impenetrable truism with a stated value policy and LOTS of documented customization (as opposed to refurbishment); I pay more for the policy, and at the end of the day it was very much worth it.

I'm saying this more for readers, too late for your scenario, and I've certainly been there (that's why I went stated value). Take the money, invest a bit, rebuild your vehicle, get it inspected so you can rescind the salvage part of the title, and see what you can do for improved coverage.

Truth has been spoken.

I just had my 89 4Runner appraised to get a stated value policy on it. The guy that did the appraisal typically does street rods, etc. Great guy and very knowledgeable.

I had receipts for almost $1K in engine maintenance/repairs and was curious if that would lend anything. NO. Maintenance and repairs are EXPECTED costs of owning a vehicle and do not add anything to the value and/or appraisal.

Consider it like owning a home. If you let your entire home fall apart, it's not going to be worth anything. But if you replace a bad water heater, it's not going to increase the value of the home at all; it's a maintenance item.

My 2 cents.

As an aside - since this was not your fault, is the other company providing alternate transportation for you (e.g. a rental) while this is being resolved? In NC, the law is that they must provide the option... although they tend to keep they're mouth shut about that unless you ask.
Here's why I ask. In general they are in no hurry to settle. You're the one out, not them. However, if they are paying by the day for rental fees, then they are now motivated to get it closed (they're obligation for the rental car ends the day you get a check). This gives you a lot more leverage... you can hold out on THEM until they agree to a price you like (and in the meantime, you get to drive a shin new car). In NC at least, the case is not closed until both parties have agreed.

As for "value" - the problem is in the definition of the word. Value (regarding cars) literally is what somebody is willing to pay for it. Right now the 'value" of Hannah Montana tickets is what, $100 or more... even though the actual cost is about $30 Guys with kids know what I'm talking about... If you can find several ads suggesting that people put a value of $4k on a truck just like yours, great, that defines it how you want. However, the fact that you're having a hard time finding them suggests that, well, the value is less.
What makes it more confusing is that the insurrance company's job is not technically to give you thr value of the vehicle. It is to either repair the damage or replace the vehicle with a similar one. If an agent happened across one in identical condition sitting in a barn, and bought it for $500, they would be within the law to give that to you. On that note, technically if you are a real ass about it, you could make them actually buy the vehicle and deliver it to you. Most people just prefer to get the cash to do it themselves, b/c they either want the $$ to use for something else, or will get a different vehicle.

My vote is with the others here. Get as much as you can. AND still have it totalled out (note if the "value" gets too high, it won't be totalled). Law may be different in WA, but in NC they HAVE to allow you the option of buying it back from them at "salvage rate" - which I believe is 15%. So you get a check for, say, $3k (plus cost of tags, title etc - remember, it's the total "replacement cost"). You then pay them $450 to get it back. Now you have your truck AND $2550. Do the repairs cheaply (even 1k) and set the rest aside for a rainy day. Officially it's compensation for the devaluation of your title - but it's good for a vacation trip too!

Hi folks thanks for all the feedback. Just to be clear, I do not believe, nor did I ever state or imply that the value of my truck ($4000 in my view) is based on $4000 in mechanical repair receipts. I believe the truck is worth $4000, and I believe I can back that up objectively, and the receipts are *part* of the evidence in my favor. For anyone who states, "ok maybe $3500" in my opinion, close enough. Are we really talking about $500? Please. The other theme that has developed here is one that pits stock vehicle values against modified vehicle values. Anyone familiar with the car market will attest that except in RARE cases, stock is more desirable than modified. As a buyer, I am, and take no offence please rock crawlers, not interested in your dual transfer cases and super swampers, and these "upgrades" kill the value by an amount it would require to undo them. So those are the main sources of confusion here in this thread, in my opinion, and I think it's best to stay on track: please let me know of any ads that you are aware of, or sales that you are aware of that would be comparable. Clean, stock 1st gen vehicles are hard to find, and objectivity demands data. If you would like to debate the value of my truck, that is a different story, and the mod/stock argument is nothing new to Internet forums. I've said my piece on both fronts, and will not discuss it futher.

Thanks,
Doug

I understand at what point ins. co's total a vehicle, however from his earlier statement it doesn't seem like the damage warrants a totalling of the truck. If the damage does exceed the 80% he still may not have to allow them to total the rig, and may be able to force them to pay the amount of damages caused to him up to the value of the vehicle. This is why I suggested he research OR auto insurance regulations, or contacting an attorney. An adjusters job is to save their company money, not tell you what your rights/options are. If the KBB value for the truck is $2400, and the damages are $2350, he should be able to get a check for $2350 from the insurance co. and retrain the vehicle w/o having to buy it back from the insurance co. Of course totaling the truck and selling it for scrap is in the ins. co' s best interest, however they aren't entitled this, their responsibility is to pay for the loss of damage to his property.

I like your thinking. As you state, everything depends upon the numbers being tossed around (which is why I am here seeking justification for a strong valuation, if possible, BTW), and of course the ins co's obligations under OR law.

My gut feeling is that the cost of repairs is less than the value of the truck by $1000 or possibly more. With the rear axle out of whack, and having to work for a living, I have not been able to get independent estimates on the damage.

Not sure about the legal aspects. I need to look into this.

Thanks for your input.
Doug

Something's not adding up here, and you're being very deliberately elusive about it.

You say you got rear ended, and the other vehicle went under your truck and struck the wheel. And that the insurance company wants to total the truck.

That's what doesn't add up. Like many others, btdt with that exact scenario, with that very same truck.

So what is the rest of the story that you're so carefully not describing?

You've also been very elusive on why you are so determined to go along with the insurance company on totaling your truck when in fact you don't have to.

It's obvious to anyone who has BTDT what is going on. The insurance company is inclined to low ball the value on the truck, and high ball the cost of repair so they can total the vehicle with a minimum cost to themselves. That is exactly what they have done. Where is the mystery?

Foolish me, thought it would be productive to query the community for ads that may support my (admittedly optimistic, yet not unrealistic) valuation. For the most part, that is something I can do for myself. JUST THOUGHT MAYBE... MAYBE there would be something, someone out there in the void.

Not sure why you infer that I want the truck totalled. It was just in my previous post that I declared my preferred course of action which explictly rejects totalling.

Not sure why the Internet sucks so much. I'm sure I am not alone in this assessment. Perhaps I'll give it up altogether.

Doug