Value of totaled truck

[Cadaverous]

So, as some know my 4runner was totaled in an accident. I'm healing up well and have decided I'm going to purchase it back. As far as I know the engine/tranny is fine. I'm trying to figure out what to price the whole truck at, as I'd rather sell the whole thing than part it out. I have school coming up, and a BMW I'm engine swapping, so time is short.

It's a 1997 3.4 limited, with locking rear diff. It had 190,000 miles and I had just changed valve covers, gaskets, IAC, plugs, and fluids.

Thanks for any imput on what it's worth in it's state. I would pull the wheels and keep them for my next rig.

 

[KidVermicious]

You're going to buy it back from the insurance company and then immediately sell it as it sits? That sounds like a great way to make no money at all.

 

[Cadaverous]

You're going to buy it back from the insurance company and then immediately sell it as it sits? That sounds like a great way to make no money at all.

Why do you say that? Sounds like you know something I sure don't.

 

[KidVermicious]

Why do you say that? Sounds like you know something I sure don't.

I just know that the insurance company is pretty good at getting everything they can out of a totalled rig without putting too much effort in. They're going to sell it back to you for around what they'd get from a salvage yard, and you won't be able to sell it for much more than that.

If you were to part it out you might see a return on your investment. But unless the insurance company gives you a really good deal, or you find a real sucker to sell it to, I think you'll be lucky to break even.

 

[Beaumont67]

By brother saw a big truck slow down & run through a stop sign.
He couldn't avoid a collision, on the highway / so he pointed for the tires.
His imported & mint 2000 Jeep TJ was totaled.
- Canadian Insurance company first offered him $9,000
- he proved it was rust free and settled for $11,000 minus $1000 to $1500 buyback / without accident going on vehicle CarFax

Next he sourced his own backyard auto body shop, with a frame technician with 26 years experience.
He also sourced, all front end sheetmetal / fenders new, bumpers & grill used
- the repair bill was $4,500 cash & all frame straightened perfect / all gaps nice

^^ So $11k - (1.5k + 4.5k) = $11k - $6k = $5,000 clear profit
Making a profit, is easier when the air bags don't deploy / in OP's case, I think making a profit on his 1997 T4R would be rather difficult.

A year later - my brother got hit by a deer, while driving to work / went through the fixing up process, once again.

 

[TOY2G]

Just fyi, i bought back a totaled Tacoma same (1998) same damage from state farm for $600. Sold it in garland for $1400 as it sat. if you buy it cheap enough you can come out okay, question is, what are they wanting for it?

 

[Padre]

Argue the "value to you" from the paying insurance company. Print out ads, cl listings, anything to prove your 4r is worth 7-8k at least. Get receipts for your recent work, tires and aftermarket mods.

Then take the money and run.

I nice got twice the value of a honda accord doing this. You gotta be a hardass.

 

[Unner]

Argue the "value to you" from the paying insurance company. Print out ads, cl listings, anything to prove your 4r is worth 7-8k at least. Get receipts for your recent work, tires and aftermarket mods.

Then take the money and run.

I nice got twice the value of a honda accord doing this. You gotta be a hardass.

I never hope to have to deal with insurance like this, especially on something as important to me as my 4Runner, but this is exactly how I would handle it.

Depending on how much they want for it you might could make some money on it. I may be interested in the rear locker from it haha

 

[jsukey]

Back in '12, my fully loaded, '02 Limited 4x4 4Runner with 150k miles got totaled by a falling limb. They first offered me $8,284. But after some haggling over what the actual value was, they finally agreed to pay me a total of $10,093. I ended up buying it back from the insurance company for $2518. I put another 25k miles on it, and sold it for $2900 a year later. (I did inform them of the salvage title) Just want to give you an idea of what you could expect. Mine was still completely driveable, and in near perfect shape though. The limb didn't even bust any windows. It was classified as structural damage though, so they totaled it.

 

[gamefreakgc]

Based off what I see in California's competitive market, I've never seen a totaled parts 4Runner sell for more than $1500 whole. $1000 is more realistic.

Unless the insurance company gives it back to you for free, it's not worth your time and effort, including transporting and storing the vehicle. Parting it out may yield more especially if it's 4wd and the engine/transmission is good but that takes a lot of time and effort as well.

 

[fblainen11]

Argue the "value to you" from the paying insurance company. Print out ads, cl listings, anything to prove your 4r is worth 7-8k at least. Get receipts for your recent work, tires and aftermarket mods.

Then take the money and run.

I nice got twice the value of a honda accord doing this. You gotta be a hardass.

Also, call around salvage yards and get your own estimate on what they'd give you for your 4runner. The actual salvage is less than what your insurance company will say it is (more money for them).

A lady hit me and totalled mine. Hardly any damage done to it. They told me salvage was around $1500. When I called around it was closer to $500 for area salvage yards. An extra 1k for me.

 

[Cadaverous]

Thank you all for your opinions on the matter. I was dealing with Geico insurance for the record.


The insurance company would not edge the valuation of the truck up at all, I tried numerous times. We did come to an amicable agreement. $5800 for the truck (I paid $4400). Plus I could repurchase the truck back for $150, and they would tow it from the holding yard 50 miles away back to my house.

A mate purchased the truck for $1000 to swap the engine into his 1st gen 4runner. I pulled the wheels, tires, battery (replaced dec 1) and headunit to keep for myself and/or sell.

 

[Padre]

Thank you all for your opinions on the matter. I was dealing with Geico insurance for the record.


The insurance company would not edge the valuation of the truck up at all, I tried numerous times. We did come to an amicable agreement. $5800 for the truck (I paid $4400). Plus I could repurchase the truck back for $150, and they would tow it from the holding yard 50 miles away back to my house.

A mate purchased the truck for $1000 to swap the engine into his 1st gen 4runner. I pulled the wheels, tires, battery (replaced dec 1) and headunit to keep for myself and/or sell.

Sounds like you did well! Good for you.