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New Years Eve Crash Estimate

Discussion in 'Ferrari Discussion (not model specific)' started by FloridaToAtlanta, Jan 21, 2020.

  1. FloridaToAtlanta

    FloridaToAtlanta Rookie

    May 30, 2018
    43
    Atlanta Georgia
    Full Name:
    Matt
    #1 FloridaToAtlanta, Jan 21, 2020
    Last edited: Jan 21, 2020
    I posted that I got rear ended at a light on New Years Eve a few weeks ago and wanted to thank everyone who offered advice and responded. Truly a great community here for exchanging information.

    Well, I got the body work estimate back today and “WOW” is all I can say. I’m attaching a few screen shots, but needless to say it’s a pretty penny. $36,000 in body work to be exact...and that doesn’t include what I paid for the light swirl mark removal and ceramic coating mid 2019. Now it will be en route to Merlin Automotive to assess any engine/transmission damage. There is some leaking of transmission fluid and the actuator is visibily busted, and some other damage underneath that I can see.

    When will insurance just total a car? Is there a % of the value reached before they total. Just a curiosity question on my part.
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  2. Meister

    Meister F1 Veteran
    Silver Subscribed

    Apr 27, 2001
    5,435
    Duluth, MN
    Full Name:
    The Meister
    #2 Meister, Jan 21, 2020
    Last edited: Jan 21, 2020
    Yes once the repairs reach a certain % off the cars fair market value they will deem it a total loss. every company is a little different as to what that # is.

    You''l have to start thinking what your long term plans for the car are. Selling a Ferrari with damage in its history can be pretty tough. Ferrari buyers can be one of the pickiest group out there.

    Pushing to get it totaled and buying it back from the insurance company can be a financial win if you want the car long term and are willing to repair it using salvaged OEM pats from places like Ferrparts, ebay, and other dismantlers.
     
  3. APA#1

    APA#1 Formula 3
    Rossa Subscribed

    Nov 5, 2003
    1,236
    Central Florida
    #3 APA#1, Jan 22, 2020
    What car is this again? Model, year?
     
  4. APA#1

    APA#1 Formula 3
    Rossa Subscribed

    Nov 5, 2003
    1,236
    Central Florida
    #4 APA#1, Jan 22, 2020
    Never mind, found it. What's the percentage to be totaled? You should blend these into the same thread.
     
  5. Way2fast

    Way2fast Formula 3

    May 24, 2006
    2,049
    Santa Barbara County
    Full Name:
    Sam
    #5 Way2fast, Jan 25, 2020
    Don't forget to ask for diminished value. You pay a Certified Auto Appraiser to determine the fair market value before the crash and what it is after being repaired. Probably 20% less

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