Sorry to hear about your mishap.

In the case of a total loss, I would definitely do some research online (cars.com and others) that would be comparable to yours (year, mileage, options, CPO'd or not) if you were to buy it today on the market. It's negotiable on the payout amount that the insurance company will provide you and generally they are reasonable (at least from what I have seen in the past). I would definitely refrain from taking the first offer as they most likely could offer more. Also factor in all the taxes/fees and demand it to them as well. As such, doing a little bit of online research prior to speaking to the claims adjuster may help you obtain the amount you deserve.

As others have noted, had you fixed the car with $19k in repairs, your car value would have been significantly diminished when you are ready to sell it in the future. It is truly unfortunate that the car is damaged severly, but might be better that they have claimed a total loss and write you a check. I personally would have not been happy to drive a car with $19k in repairs. - Others feel free to chime in, this is just my opinion.

 

So sorry to hear man. Easy to get attached to these cars and it's like losing a family member.

Generally dealer repairs will not show up on CarFax or Autocheck. Poilce reports or other government action (registration, emissions tests, etc.) will. Generally BMW dealers will not release repair records via VIN unless owner's permission has been given. However, refusing to give permission to someone who asks to get dealer history will raise a red flag.

Negotiate hard. Do research on what a car like yours is selling for ahead of time. Then ask for more.

Also, after you make your final deal on the payout, do us on the forum a favor and ask what the insurance company will sell the salvage for. The insurance company may be interested in flipping it quickly without auction.

It's possible that after replacing the reinforcement plate, trans pan and fluid and belly pans she would still drive great. They are tough cars. Buying the wreck at the right price could make someone very happy! Some lenders will even lend up to 50% of the car's NADA value on a branded title car. They can be an outstanding value if you plan on driving it for a while.

 

Thank you all for the kind advice and support!

So we finally worked out a settlement, got around 33K for the car which is good considering the kbb value if I were to sell it myself. In total after taxes and license fees got around 36K. Nonetheless, it is sad to see the car go when it had such low miles and considering it was fully loaded with the works :thumbsdown:

In the market now for a new car, looking at either a F10 535i or a Mercedes E350 (meh), but if I do find like a 2010 E60 with low miles I would definitely consider it as it was a AWESOME car! Not really feeling the F10 currently, but I am sure it will grow on me as the one with the M-sport package looks very sexy.

I also asked the insurance and it seems like they will try to flip the car for around 15K

Any ideas on when some certified pre-owned F10 535i with M-sport package will hit the market..haha?

Thanks again and best wishes to all of you!

 

F10 is nice, but to be honest, I like the lines of the new E350 better. :hiding: