For anyone else unlucky enough to be in this situation, here is the way that it is supposed to work out:
I wrecked my '07 Sport Auto on Saturday, 10/18, by being run off the road by a lifted pick up. My car only had 11,883 miles, and a lot of custom parts. I was able to retrieve the custom parts and replace the stock parts at the body shop.
My insurance company is State Farm. I could very likely get lower premiums from another insurance company, but have stayed with State Farm due to their fast claims service and rates that are not bad.
State Farm called me today, saying that a check for $19,582. settlement is going out by FedEx. I drove the car for two years, and the settlement is for more than I paid for it in '07. My dealer has a '09 Sport Auto BBP waiting for me to pick up as soon as my check arrives. MSRP is $17580, and that is what I will be paying.
I hope that all of the other wrecked Fits wind up being covered this pleasantly by the insurance claims process.
How the hell? o_O Must be magic or something to get more back than what you invested in
__________________ 2007 NBP Fit Sport MT Honda Floor Mats || Honda Cargo Net || 35% tint || custom CAI || Blox shift knob || LED dome + cargo lights || Megan axle-back || Zeta dead pedal || "Dirty White Boy" air freshener :-D
How the hell? o_O Must be magic or something to get more back than what you invested in
No, it's the market value of the car. Just look at the prices for used Fits on cars.com or autotrader.com. There are dealers advertising used '08s for $22K! That's what I found in a search within a 50 mile radius of where I live. I was expecting to fight for a fair settlement but did not have to after all.
Chris-
If my dealer in Monterey had not been so helpful, I was planning on calling you about buying the replacement. A 1 hr. plane ride to Ontario, and a 7 hr. drive home wouldn't be a bad way to buy my next car. Sorry to have missed the opportunity to meet you, but everything worked out OK.
good that everything went well with insurance and that you had speedy service and very good service too with your insurance co...
and that you got thst much back
__________________ 07 Honda Fit Sport, Eibach Springs, custom blue auto shift, knob, LED tails and 3rd brake light, CF hood, tint, 15" drag, CAI, CF rear spoiler
when the price for gas went up to $arm and $leg...the value of the fit went up as well..at least here in florida...they went from 14-15k to 20-23k...and that was like 2-3 months back..not sure now..could be more..everyone was trading in their cars for a fit.
when the price for gas went up to $arm and $leg...the value of the fit went up as well..at least here in florida...they went from 14-15k to 20-23k...and that was like 2-3 months back..not sure now..could be more..everyone was trading in their cars for a fit.
MSRP for a new Sport Auto is $17580 in CA. I would not ever pay 20-23K. I was lucky to have a dealer within driving distance who does not mark up his cars, even though he can. He just doesn't, and that's why I buy there and nowhere else. As I posted to JDMchris, if I couldn't find a new Fit around here at MSRP, I would have worked out a sale through Chris at the dealer he works for. Chris wouldn't be a good option for car buyers in FL, though.
I have State Farm and when I totalled my turbo 350z, I got 29k out of them. the car was worth 19k, but I had 10k in mods, and proof
Seriously though, the insurance company is supposed to put you where you were before the loss occurred.....no profit is meant to be had from it.
I'm glad you got the settlement quick!
Also, FYI, total loss settlements aren't based on MSRP, blue book, black book, or NADA. They're based on the market in your specific area. If you have a 2005 Corolla, and the NADA is 10k on it, but corollas in your area are selling for 13-14k, you're going to get a check for the amount closest to market in your area because that's what would put you where you were before the loss occurred.
awesome to hear there was some GOOD out of your incident!
those new 09's are awesome. i likes.
Thanks Ken. I won't know how much I like the '09s until I am in one, but I don't dislike their looks as much as some people seem to. I haven't even seen one with my own eyes yet. I am betting that handling and performance manufacturers will act on this model being unchanged for some years, therefor a larger market, than the GD3s presented for after-market parts. I don't THINK that I will regret buying a new GE8 rather than a used GD3, but we'll see.
Manxman, quick , get the stick while you still can! JFWY, glad that all is well. Unless you were one of the most entrenched GE8 haters, you will never regret getting the new car versus over-paying for a used GD3. And I say that as someone who loves his GD3, I just wouldn't pay new MSRP for one with 12K miles on it...
__________________ Mods so far: Tint, HID independent fogs, Zeta dash, door trim, non-folding armrest, dead-pedal, accessory aluminum shift knob, H-Fit SSA, A-spec CAI, Tanabe Touring Medallion axle-back, DC Sports header, DIY rear bumper strip, XM radio, painted calipers and engine cover Ford blue, polished intake runners (Fitfreaks 1st) Vent-Visors, car purchased 6-21-08 who me addicted?
Thanks Ken. I won't know how much I like the '09s until I am in one, but I don't dislike their looks as much as some people seem to. I haven't even seen one with my own eyes yet. I am betting that handling and performance manufacturers will act on this model being unchanged for some years, therefor a larger market, than the GD3s presented for after-market parts. I don't THINK that I will regret buying a new GE8 rather than a used GD3, but we'll see.
You should at least test drive one and look at it in person!!!
A GOOD Story About Insurance and A Totaled Fit
Linear Mode
