Possible total loss?

[gnr3312]

Verdict is in. Total loss. But the valuation of the car is laughable. Gonna have to send them the window sticker and comparable taycans in the area. CCC is the valuation company my insurance is using. I got brand new tires less than a month old and somehow they measured it at 5/32. What a joke

Did you have gap?

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[MrStak]

Did you have gap?

No gap. But I am compiling a long email refuting some of the appraiser's notes. They noted 2 of the comparable vehicles have fog lights and one has positraction. Should I just ask for a new person to value the car?

 

[gnr3312]

Technically the Taycan has a single fog light but I wouldn’t trust an appraiser unless they demonstrated to me that they know about this market.

 

[FlyingPoint]

No gap. But I am compiling a long email refuting some of the appraiser's notes. They noted 2 of the comparable vehicles have fog lights and one has positraction. Should I just ask for a new person to value the car?

I don't want to throw salt in an open wound, but I have expressed more than once on this forum-
Put down as little as possible on any leased car. Never enter a lease without GAP insurance.
This is a PSA.

 

[DerekS]

Verdict is in. Total loss. But the valuation of the car is laughable. Gonna have to send them the window sticker and comparable taycans in the area. CCC is the valuation company my insurance is using. I got brand new tires less than a month old and somehow they measured it at 5/32. What a joke

All insurance companies will try to pay out as little as they can. Sounds like you’re doing the right thing, best wishes and keep us posted!

 

[pbmorrow]

I don't want to throw salt in an open wound, but I have expressed more than once on this forum-
Put down as little as possible on any leased car. Never enter a lease without GAP insurance.
This is a PSA.

100%, on a lease either put down nothing or do a single pay.

 

[MrStak]

wasn't a lease guys. i owned the car. still waiting for the updated valuation.

 

[gnr3312]

wasn't a lease guys. i owned the car. still waiting for the updated valuation.

Was going to say that leases force you to have a gap, but with a purchase it is optional, and I always recommend it as well. In fact I just went from a lease (with forced gap) to a purchase and included the optional gap.

 

[FlyingPoint]

wasn't a lease guys. i owned the car. still waiting for the updated valuation.

While this does not help you now, perhaps in the future is a different type of insurance policy.
Another option is to purchase an "agreed value" insurance policy. While I have never purchased for my Taycan's, I did for my GT3. The cost was higher but not onerours when comparing to a total loss incident.

 

[MrStak]

Was going to say that leases force you to have a gap, but with a purchase it is optional, and I always recommend it as well. In fact I just went from a lease (with forced gap) to a purchase and included the optional gap.

thanks for the advice. will look into now

 

[snstevens]

In a circumstance where you can’t get satisfaction from an insurance company there really is no better alternative than to get a lawyer involved who specializes in diminished value. What you have here may essentially be a diminished value situation. The car had a residual value before the accident, and after the accident they are valuing it less.

What I would expect in your shoes is a true residual value based on mileage and the condition of the car (pre-accident).

 

[DerekS]

In a circumstance where you can’t get satisfaction from an insurance company there really is no better alternative than to get a lawyer involved who specializes in diminished value. What you have here may essentially be a diminished value situation. The car had a residual value before the accident, and after the accident they are valuing it less.

What I would expect in your shoes is a true residual value based on mileage and the condition of the car.

This is good advice. I bet what ends up happening, once you have counsel, is a settlement offer.

Litigation costs money. It costs them nothing to offer a lowball and see if you roll over.

 

[MrStak]

Payout was received. It was approximately $3k less than what we paid, all in for our car. So we took it as a 500/month rental.

In the market for the next 4S and came across this one. They're asking $66k. It's a bit further away from me so I asked for a best price. They only offered 1k off if I finance with them. No prepayment penalty, just want us to leave the account open for 4 months before we pay it off. After taxes and registration, I'm looking at $71k and change. Does this seem like a good price for a 4S with these options? It has the non-negotiables that me and wifey are looking for, missing some options that our previous 4S had but has some other options we didn't have also.

Thoughts?

Thanks everyone.

 

[questionmillennium]

Pretty good for those options. You're not really missing much other than HUD and the Performance Package which I'm not sure you had in your previous car. With the prices for used Taycans increasing over the past few months, 71K OTD is not horrible. What's the mileage? I'd ask for 70K OTD and see if the would take that. You can always add ALK via FoD later on if you had it in your other Taycan.

 

[MrStak]

Pretty good for those options. You're not really missing much other than HUD and the Performance Package which I'm not sure you had in your previous car. With the prices for used Taycans increasing over the past few months, 71K OTD is not horrible. What's the mileage? I'd ask for 70K OTD and see if the would take that. You can always add ALK via FoD later on if you had it in your other Taycan.

sorry forgot to post mileage. it has 25k miles. my previous did not have the performance or HUD and it had 35k miles on it. and it was a 2020 vs this 2021. there's a few popping up so i'm wondering if i should wait or take this one. do porsche dealers normally give discounts or no? this one said they've sold 3 taycans this past week but dunno if he's just blowing smoke

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