Perfectly good 97 4runner that has been totaled from a small accident

[fblainen11]

Hi guys, I've got a really nice 97 4runner that was rear ended last Tuesday. The insurance company is telling me it's totaled. The damage is on the back left corner drivers side. No frame damage at all. I've got a brand new set of tires that are 6 months old on them. Brand new radiator. Changed timing belt less than 9 months ago along with water pump and all other belts.
New tie rod on the passenger side.

Transmission was rebuilt before I purchased it. I have paperwork for that as well as all other maintenance. Runs perfect.
My question is geico is offering me 4672 to total it or ~4100 to salvage it. Do you think I should salvage it and sell it. I don't want to repair it. Thoughts on what you would do?

Suggestions input? All is appreciated.

 

[Bama_Runner]

Here is my story. I got hit on an icy bridge last year in my 99 limited 4wd with 192,000 and the other party's insurance company, after some bargaining, gave me 7100 for mine plus I got to keep it. Then I turned around and sold it for 2500. Not bad considering I gave 5600 for it 4 months before totaling it.

 

[Millerad1651]

If you don't want to repair it, salvage and sell it. There are plenty of people who will by one that needs a little body work. You could probably get a couple grand out of it. Keep all paperwork so you can tell them exactly what it needs.
With that and the insurance money, you could get a pretty nice replacement.

Thats how I ended up with mine. Original owner got in a fender bender, no frame damage. The guy I bought it from got it cheap and fixed it (needed hood and driver fender), and let his wife drive it for a year. Then I bought it, for about $2000 less than what a clean title truck was worth. I have no complaints whatsoever.

 

[fblainen11]

Thanks fellas. That's what I'm leaning towards. In addition to getting a little money out of it I also have an additional vehicle to use in the mean time.

 

[BrianSD_42]

Take the salvage, sell the engine and trans.
Although both probably have crazy high mileage.

 

[fblainen11]

Engine has 183,000. About 5k on the new timing belt.
Transmission was re-built in May of 2012.

 

[Millerad1651]

Hell, if thats the case, you could get more than $2k for it...you could around here at least. Thats not too expensive of a repair, if the hatch is fine...you may get $3k plus!

 

[fblainen11]

Hatch is still operable and seals. The very bottom corner is bent a little.

 

[BrianSD_42]

what color is it?

 

[KidVermicious]

If it's only minor cosmetic damage, why not take the cash and keep driving it?

 

[eplanajr]

If it's only minor cosmetic damage, why not take the cash and keep driving it?

This.

Take the $4100, buy some mods, something for the wife, and save the rest.

 

[Brique]

Yeah, I'd take the total and keep it. Be aware that it will have a salvage title on it henceforth, but on a truck this age, I wouldn't be concerned, personally.

 

[Ryan_289]

Does it have SR5 fender flares with front mud flaps? If so, and you decide to part it out, I would like to buy those from you!

 

[JBurt]

Thats how I ended up with mine. Original owner got in a fender bender, no frame damage. The guy I bought it from got it cheap and fixed it (needed hood and driver fender), and let his wife drive it for a year. Then I bought it, for about $2000 less than what a clean title truck was worth. I have no complaints whatsoever.

That's how I got mine too. Could be a good deal for someone. Post up some pics of the damage and you can get better advice.

 

[fblainen11]

It's black. It is an SR5. Don't recall if I have flaps or not.

This is the damage. Sorry for incorrect orientation. It's difficult on an iPhone. What do ya think?

 

[fblainen11]

I think I could at least patch it up and make it look presentable. To drive or sale. I have no clue about welding but is that bumper something I could get patched up? I know it would be ugly but just to add some kind of structural integrity? Maybe and a piece of metal on it and tac it on to hold it in place?

 

[RunninInGA]

I would take the option that paid me the most money and still allowed me to keep the truck.

I'd then repair as much of it myself as I could and would proceed to drive it until the wheels fell off.

With the money that was left over, I'd place it in an interest-bearing account to use for my new truck fund, adding what I could each month for the next 10 years (it's still a toyota, right?).

Years later, you're well on your way to paying cash for your new truck when this one dies or needs to be replaced. You should only finance a depreciating asset out of financial necessity - not because it saves or makes you money.

No truck payment right? WRONG - keep paying it to yourself this way and you're ahead of the game. I've had many vehicles over the years and paid for all but 1 this way. The only car payments I make are to my new car/truck fund.

 

[KidVermicious]

I think I could at least patch it up and make it look presentable. To drive or sale. I have no clue about welding but is that bumper something I could get patched up? I know it would be ugly but just to add some kind of structural integrity? Maybe and a piece of metal on it and tac it on to hold it in place?

Easier to just replace the bumper. The sheet metal you could try and replace with a patch panel, but I'd just bend it back into shape and knock the sharp edges out and slap a new taillight on there and roll with it. It won't look awesome, and depending on where you live it may start rusting out really quick, but at this point that truck owes you nothing, It's literally a free truck. I'd back your insurance off to liability only and drive it like a rented mule and enjoy all the cash you're saving.

 

[fblainen11]

Before this accident I had liability with UMPD, in case someone hits me without insurance. And comprehensive coverage. No collision. I hunt a lot and I'm afraid of hitting a ddrr