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      05-25-2011, 06:34 PM   #1
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My Sad Story

Alright guys for those of you that dont know what happened to my car here it is.....

Part 1: Late Friday night my girlfriend and I where driving North down a particularly gravely Street. It was raining and I made a right turn through a yellow light at decent speed. I started to slide during the turn and ended up hitting the only curb in site. The car went up on the sidewalk and oil and coolant went everywhere. Also, my front tire popped on impact. Anyway, I had to have the car towed to the dealer at 130 AM.

Part 2: After getting the dealer in touch with my insurance company, I learned that in addition to all the typical repairs for hitting a curb, the technicians say that I also need a new ENGINE! 26k just for the new engine! Good thing I have insurance and a low deductible.

Part 3: The insurance company and the dealer are conflicting about how much it is going to cost to repair the car, the dealer says about 50k and the insurance company believes it is more around 40k. Either way, the insurance company is considering just totaling the car. Normally I would be all for totaling it and getting a new car however, I put 11,500$ down and I am afraid that if they total it then I will loose my down payment. For example, I only owe 59k on the car, so if the insurance company gives me the market value for the car (lets say 65k (just guessing)) then that only leaves me with 6k for a deposit on the new car. What do you guys think? I tried to look up my car value on KBB but they dont have any numbers up for 2011 cars yet. What do you guys think?

BTW.... The car only had 7500 miles on it and sustained no body damage at all! This shit is crazy
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      05-25-2011, 06:43 PM   #2
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get a new car, itll just be problems later
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      05-25-2011, 06:51 PM   #3
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get a new car instead of fixing this one.
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      05-25-2011, 06:52 PM   #4
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Quote:
Originally Posted by Studntloan View Post
get a new car, itll just be problems later
I second this.
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      05-25-2011, 06:53 PM   #5
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Originally Posted by Studntloan View Post
get a new car, itll just be problems later
+1. Sorry to hear. SL is right, the lost value of your repaired car will be greater than the difference in down payment for you to get a new one - if that makes sense...
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      05-25-2011, 06:54 PM   #6
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How is it that you slid that much? Did you have DSC off? I have never come close to losing it in the rain in my car with DSC on even in MDM mode.
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      05-25-2011, 06:55 PM   #7
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Quote:
Originally Posted by knifegun View Post
How is it that you slid that much? Did you have DSC off? I have never come close to losing it in the rain in my car with DSC on even in MDM mode.
gravel was likely the culprit, but speed was probably the biggest contributing factor.
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      05-25-2011, 06:57 PM   #8
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total it and move on, sorry to hear it, but life's full of these speed bumps.
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      05-25-2011, 06:57 PM   #9
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Quote:
Originally Posted by PortoM3 View Post
get a new car instead of fixing this one.
No doubt. Well if course if you can influence the insurance adjustor enough to total it. But losing 5K and be able to drive a new car, priceless.
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      05-25-2011, 07:05 PM   #10
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Insurance companies always pay ACV (- deductible), which means 'ACTUAL CASH VALUE'. And it has nothing to do with payment method. People who give a low down payment, are 'upside down' the moment car leaves the dealership, meaning if car is totalled, they'd owe money to the finance company. Don't want to sound pessimistic, but the 'market value' of your car is probably lower than you think. The good news is with $11K down, you might not owe anything... but don't expect much change either.

Hey, may I ask why the hell a new engine ? If you hit the engine with the curb, I don't even want to know how fast you were going man . Good luck.

Last edited by elp_jc; 05-25-2011 at 07:14 PM.
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      05-25-2011, 07:10 PM   #11
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Sorry to hear this OP. I too would take a new car. Glad you two are okay though.

I need to have fun with this too.

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      05-25-2011, 07:12 PM   #12
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Quote:
Originally Posted by elp_jc View Post
Insurance companies always pay ACV (- deductible), which means 'ACTUAL CASH VALUE', which has nothing to do with payment method. People who give a low down payment, are 'upside down' the moment car leaves the dealership, meaning if car is totalled, they'd owe money to the finance company. Don't want to sound pessimistic, but the 'market value' of your car is probably lower than you think. The good news is you shouldn't owe anything, but don't expect much change either. Good luck man.
This is true, every painful word of it. You will be stunned at what they tell you the value is. Sorry to hear and glad you didn't get hurt.
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      05-25-2011, 07:22 PM   #13
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Yeah, crashing cars is expensive business. You want it totaled and out of your life if possible. Don't count on getting a dime of your down payment back. If you do, consider it a windfall.
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      05-25-2011, 07:24 PM   #14
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How is it the engine has anything wrong with it if the body is fine? Sounds very bizarre.
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      05-25-2011, 07:41 PM   #15
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.................Hey, may I ask why the hell a new engine ? If you hit the engine with the curb, I don't even want to know how fast you were going man . Good luck.
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      05-25-2011, 07:41 PM   #16
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I guess during the slide when the wheel was pushed inward, the A-arms pushed inward and punctured the engine or at least cracked the block.

Ouch!
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      05-25-2011, 07:47 PM   #17
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Sorry to hear about this brother.
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      05-25-2011, 07:50 PM   #18
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Quote:
Originally Posted by elp_jc View Post
Insurance companies always pay ACV (- deductible), which means 'ACTUAL CASH VALUE'. And it has nothing to do with payment method. People who give a low down payment, are 'upside down' the moment car leaves the dealership, meaning if car is totalled, they'd owe money to the finance company. Don't want to sound pessimistic, but the 'market value' of your car is probably lower than you think. The good news is with $11K down, you might not owe anything... but don't expect much change either.

Hey, may I ask why the hell a new engine ? If you hit the engine with the curb, I don't even want to know how fast you were going man . Good luck.
I was probably only going about 15mph.... They say I need a new engine because metal shavings got into the engine during the accident some how.
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      05-25-2011, 07:59 PM   #19
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I call BS on that. Get a second opinion.
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      05-25-2011, 08:07 PM   #20
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it's BS. Get a second opinion. Stealership is taking you for a ride.
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      05-25-2011, 08:21 PM   #21
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One time, in my E46 325xi, i was driving around in an empty parking lot, leaving work late at night. I had just gotten my tints put on and wasn't used to the decreased visibility. I was in the midst of a fully-locked turn to head the other way and exit the parking lot when I crashed into a parked car that I did not see. the force of the impact was sustained only by the front left wheel - it pushed it in pretty bad and I needed a host of repairs.

EVEN WITH AWD, the repairs were not more than $5000. I think you should definitely have the car towed to another place and see what they say. It might be worth it in the long run. Then again, if the goal is to have it totaled, stay where you are. once the ins co says no go to totaling, then mitigate repair costs and get another opinion for sure.
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      05-25-2011, 08:36 PM   #22
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get a new car, its not worth fixing this one at all
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