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Blue Book Value Of A Totaled Car

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We saved 2,000 vs. the blue book value and had it

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The last thing you need when your car gets totaled is to wait for an insurance payout. If your provider is low-balling you, however, take the time to research what your car is worth before.

Blue book value of a totaled car.
To easily determine the value of your car after an accident, you may check out the Kelley Blue Book or Edmunds website for your guidance. Key in all of the needed information in the site, make use of their value calculator, and you will then be issued with a value for private sale, retail, and trade in purposes.
Kelley Blue Book® Private Party Value The Kelley Blue Book® Private Party Value is the starting point for negotiation of a used- car sale between a private buyer and seller. This is an “as is” value that does not include any warranties. The final sales price depends on the car’s actual condition and local market factors.
If your car has been totaled due to a car accident, you might expect to get paid Kelley Blue Book value for your car. While it is a reasonable assumption to make, the insurance company does not use Kelley Blue Book to determine the value of your car. Insurance companies use an independent company to evaluate the value of your car.

The NADA book gives three values for a car (this after taking into account condition, options present, number of miles on the odometer, etc.). There’s the wholesale value, which is the figure car dealers use when deciding how much to bid for a given car at a wholesale auction.
Obviously if the repairs exceed book value the car is totaled. If the repairs are under but close to the book value the ins co looks at the salvage value of the car. If the repairs are say $600 less than book value, but salvage value is $1,000 then the ins co can save $400 by totalling it, paying you book value, then salvaging the car for $1,000.
2. Insurance companies will generally offer the blue book or similar value for your car. However, sometimes the blue book value isn’t really a fair value. – If you have recently replaced the tires or put a high end radio or navigation system in your car, save the receipts. You can use the value of those improvements to show the insurance.

Find the Kelley Blue Book Value for your car in fair condition. Work out 20 to 40 percent of the fair condition value, depending on how bad your total loss car’s condition is. It’s probably closer to the 20 percent mark.
Calculating the total loss value of a car is not exactly easy, and may vary considerably by state and the insurance company. It is important to know how your vehicle’s value is calculated because it can help you negotiate for a better payout on your claim.
Understand what the term “totaled” means. It can mean different things for different cars. A car is totaled when the repairs to the damage cost 75 percent or more of the car’s retail value. So, minor damage to a 1972 Buick may total the car. The same damage on a 2008 BMW will not be a total loss.

To get an idea of what your totaled car is worth, find the Kelley Blue Book value for it in fair condition. Figure out what the 20 to 40 percent fair condition value is.
You can check the actual cash value of your vehicle on websites such as Kelley Blue Book to determine the estimated value of your car for both a private sale as well as the car’s dealer trade-in.
Kelly Blue Book , for example, has a “Car Values” calculator where you enter you car’s information and it will provide an estimated market value. If you don’t have an idea what your car is worth, the insurance company can tell you anything and you’ll have no basis for agreeing or disagreeing with their number.

Actual Cash Value [ACV] and Totaled Car Value. It’s a bit difficult to put a definite amount on your totaled car but your insurance company will have its method for computing your car’s ACV. To determine the ACV and totaled value of your car, your insurer will make use of your car’s year, make, model, mileage, and damage done to compute.
Compare the prices in car price guides with car ads in your local newspaper, both the inserts from car dealers and the classified ads. If you consistently find your make and model selling for more than the Kelley Blue Book value, you may be able to use that information and convince the insurance company to pay you more for your totaled vehicle.
Find out what your car is worth at, the Trusted Resource for used car values. Get the Kelley Blue Book Value for your used car or trade-in vehicle, find tools to help you with buying or.

With this information and its own formula, the insurance company calculates your car’s actual cash value. Blue Book Value. To find new and used cars’ depreciated value, insurance companies may refer to the Blue Book value. There are two Blue Books, one from the National Association of Automobile Dealers (NADA) and the other by Kelley Blue Book.
“A totaled car is a vehicle that’s in need of extensive repairs costing more than a set percentage of the vehicle’s value,” says Matt Smith, an editor at used car listing website
When your vehicle is totaled in an auto accident, your insurance company pays you for the totaled car value—or, more accurately, it pays you for what it claims the value to be.

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