Totaled 545i is insurance buy back worth it?
09-20-2010, 01:22 PM
#32
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My Ride: 2008 550i SA M-Sport Package
I had a collision last month with my 2004 545i SMG, not a big deal, guy ran a stop sign and I couldn't avoid him in time. The car looked like it just needed a hood, front bumper and passenger headlight. I'll have the car back in a week I thought. WRONG, the guys insurance company (state farm) totaled the car, I was PISSED because I loved that car! Then when I heard how much they were giving me, I got over it really quick. I bought the car 4 months ago for 17K flat. State Farm gave me 25K. I'm now in a 2008 550i M-Sport!!!!
09-20-2010, 01:49 PM
#33
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My Ride: 2007 BMW 550, Sport, Navi, PS, CWP, Sirius
09-20-2010, 05:52 PM
#34
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My Ride: 2006 BMW 550i
09-20-2010, 06:14 PM
#35
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My Ride: 2008 550i SA M-Sport Package
I don't see what's so strange, I paid 17k cash in a private sale. State Farm valued the car at 25k. If I had gotten the car for free as a gift am I not entitled to be reimbursed in the case of an accident? Insurance covers the value of the car regardless of what was actually paid for it.
09-20-2010, 10:48 PM
#36
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My Ride: 535i M Sport pkg
Model Year: 2007
Engine: N54
I agree, this is your best option. Take the insurance payout and buy another car. Then buy it back and part it out. You can advertise some of the parts right here on this board. You should come out ahead, depending on the buy it back price.
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