I think I may have totaled my 2020 TRD Pro Tundra

When a truck it "totaled" will they give you fair market value that includes the new market "value added"?

 

In most states, it is referred to as the “actual cash value” and treated like a forced sale based upon local market value. They have to include sales tax, title transfer fees, etc.

 

The insurance company threshold is way less than market value to “total loss” a vehicle.

 

I think the repairs have to be more than 50% of the value of the truck in order for it to be totaled. That's what I've heard anyway.

 

Tennessee is 75% of total value, 50 seems way low.

 

I crashed an Accord back in 2017. Air bag popped. Repair bill was just under $16k. Had they totaled it, I would have been given a check for $24k. The adjuster originally estimated the repair to be about $12k, but once they got into it, it kept climbing. Though they never said it, my guess is if they knew $16K, they would have totaled it.

 

Damn @memario1214, calling you out!

 

Depends on what state your in some thresholds are lower than others, salvage is also a contributing factor. If the truck is worth say 50k and the salvage is say 50% of that then the initial estimate would need to be under $20k to leave a little room for any potential supplements. Looks repairable to me, good luck

 

lol. I didn’t know it was a controversial topic.
https://www.sparksparts.com/oem-par...pro-811500c211?c=bD0yJm49U2VhcmNoIFJlc3VsdHM=

 

Good to hear everyone is OK. I wrecked my 2013 in August, $13K. Similar damage except in the right rear. My air bags didn't deploy though. My wife told the body shop manager if you total it you'll see a grown man cry.

Best of luck, I don't think it will be totaled just based on the pictures.

 

They definitely sell those lights in singles. I'm not running those lights.

 

Looks like a fixer. Get involved, stay involved. Research local shops and pick one with a good reputation. Your insurance company may try to steer you to a “preferred” shop. They generally care more about discounts than quality. It’s illegal to even hint that you can’t use the shop of your choosing. When you pick a shop kindly let the estimator know you won’t settle for less than perfect. It’s okay to tell them it’s your dream truck. That should get it in the hands of good techs. Also let the shop you’d be willing to pay the difference for new, OEM parts if your Insurance policy calls for aftermarket or salvage.


Also, keep the diminished value talk between you and an attorney. In the body shop it’s taken as “no matter how good your work is, even if my truck is better than new, I’m going to drag your name through the mud to squeeze a check out of my insurance company. It’s your right, go for it but don’t walk into the shop bragging about your intentions. Won’t make any friends. I worked in a shop that would hand you your keys back if the words came out of your mouth.

 

Glad you and the family made it out safe. Which body shop are you going to?

 

Sorry to hear about your accident. Glad to hear that you weren't hurt too bad and that your daughter is okay.

 

OP is.

 

I've been told 75-80% of the trucks value is where they draw the line for totalling. As long as there is no frame damage, I wouldn't think twice about getting it fixed and drive it. Every car I have owned has had body work done on them (not all my fault). I've also never received diminished value from insurance but I've also never taken a hit on my trade ins because of them being in an accident either.

 

Bummer, glad you're all ok. I wouldn't be too eager to hold onto a truck with that much body shop repair. That stuff never goes back right

 

In NH you can go to whatever shop you want. Insurance company cannot dictate who can and cannot do the repair.

 

It's like that in every state and if they tell him otherwise they could get in a lit if trouble

 

One of my company vehicles had similar damage and was not totaled, hope it turns out ok!

 

Did the driver seat airbag blow? Also, regarding the whole “diminished value” thing, you hear that a lot online but I have yet to ever see it play out in real life. Unfortunately, everyone gets screwed in the aftermath of a crash.

 

Almost
Same on my Tacoma years ago.
They replaced
Fender, doors and cut the rocker channel out and welded in a new one. Wasn’t totaled in my situation.

 

Looks like the truck did it’s job in keeping the occupants whole, trucks can be replaced or fixed. Sorry about truck op

 

Yeah, I'm pretty sure it's bull shit.

The I C isn't gonna pay out more than what the truck is worth at that moment in time.

How do you prove the truck sold or traded in for less than value at that moment in time?

I guess if you were so upside down from trade ins, lease early returns, or wanting a newer vehicle the diminished value might pertain, but I bet your IC knows that you are underwater and will definitely be bending you over with a much more expensive policy.

DV had always been something that made no sense to me.

Besides, no one ever has much trouble selling a used Toyota...except the guys that mod the shit out of their trucks expecting to be paid for the cost of those mods.

 

Thank you all so much for the insights. I've truly learned a lot about this situation and how to anticipate next steps whether it be totaled or repaired. I'll look into the Toyota of Irving dealership for repairs as mentioned. Thanks for that insight Holden! Might be TMI but for what it's worth. I owe 39k. I bought if new for I believe 48K. It seems they are going for around the mid to high 50k range and maybe even 60k. Even repaired it seems I am likely still in ok position but obviously it's not ideal to have wrecked on the title. It was it is. Glad everyone's ok. This is why by the way I only buy Toyota from here on out. This is my second Tundra. Drove my last one for 10 years and put 200k on it without ever having any issues. This one kept me and my daughter safe. I'll keep everyone posted on what I find out as the insurance company is inspecting in the coming week or so.

And keep the insights coming! I love reading everyone's experiences and opinions.

 

Let me give you some facts:
1) Was it your fault? If not make sure you get diminished value usually dollar for dollar what the repair bill is, insurance will offer 20% but got to small claims court (the cowards will settle long before you ever get to court). Rest assured you little carfax/carcheck buddies have it identified in a collosion and I surmise if repaired perfeclty (never happen) it still worth $7500 less than with no accident designation.
2) beign a 2020 they should use OEM parts, cut off point is usually 2 years. They will tell you if you want OEM parts you pay extra no worries. Let them use what they want and you keep rejecting over and over and they will eventually put OEM parts on. Good news is this drives up the repair bill and diminished value. The shops love it because insurance makes the shops use aftermarket shit parts and every time they touch the car they get paid.
3) Unless frame is bent that truck is no where close to totaled. Your best bet is diminshed value paid out and the truck reparied correctly. Run a carvanna offer on your truck right now before the wreck shows up and then after wreck shows up. That is golden evidence for dimished value.

For future reference the first words out of your mouth after an accident is ambulance. insurance company will offer you $20K to settle the next day for bodily injury. Broken arm your good for $100K plus oh get those pictures showing some pain....

 

OP, glad all were kept safe!

Not a Tundra, but last Aug a young driver pulled out in front of me while driving our 100 series Land Cruiser. The other parties' carrier totaled it. I had been told not to accept their first offer no matter how good it seemed. Once I balked at their first offer and had conversations about the state of the current market, the adjuster agreed to use comps from AutoTrader etc to come to an agreeable price which was well over both his initial offer and NADA values. Just throwing that out there for you in case they try to give you a NADA value yada crap.