My Tundra may get totaled. Can you help with Value?

In my post I said finding a good 2000-02 tundra for $5,000 is very much realistic, and I followed that with patience. The trade in value or wholesale value of that truck is around that $5,000 mark, give or take a few hundred. Over the last few years I would casually shop all sites for a Tundra because I was looking for 1. Prices are erratic, seeing a 50k truck for $12,000 on the same day of another for $4,000 with 110k.
Shopping with the wholesale or trade in value figure in mind is smart money. Having some patience and willingness to travel a little for the right truck is the point I was making.
Manheim does not own that truck, a dealer is still the owner. Stopping by that dealer with a friendly attitude and they may decide to bring the truck back in and sell it to you. Larger new car dealers usually will not sell the truck to the public, it's to old.
Manheim actually does have assurances, that is why they go through an inspection process and graded. Your thought process and auction experience is true for gov auctions and the like, that is different market.

 

I have purchased cars at different auctions and did well on some, not so well on others. Manheim is different animal, not open to the general public. A few months ago we won a auction on a Jeep Wrangler, it failed final inspection. Tried again with another Wrangler, failed final inspection. 3rd time we finally got a decent deal for a low mileage 08.

 

Is that supposed to be there? I don't have one of those on my truck.

 

Its a replica of my right hand back in the day at its height of glory. Pre-lighting accident days.

 

After I get my suspension done I will have to wash that hand and find it a new home on my truck.

 

That's a truck?

 

They are gear brand 16 x 8's

 

amazing anyone survived Thank the man upstairs

 

Update: my insurance company offered me 12,500 with no negotiating. I could probable argue for more. I’m going after the other guys insurance because I can play a little hard ball, see where it goes. I spoke to a couple different neighbors, one owns her own insurance company the other worked her way pretty far up in a major insurance company (50 years worth)

They gave me some pointers—some I’ve already gotten from members of this forum.

In a nutshell, to get the best value for my loss everything needs to be considered: get receipts of work done. Get comps from your region. Document time spent dealing with the claim (time spent retrieving vehicle—mine was towed, time spent on the phone with insurance co, time spent researching comps) and time without your vehicle. Use all of it to create a loss value.

Because of the contract I have with My insurance company, they won’t include the canopy (sitting in the garage) that was removed recently for a dump run. Even though it’s useless without the truck since it is model specific and color matched. That is why I am pursuing the other company. They will have to eat it.

That doesn’t even take into account the time looking for a new vehicle

 

$12,500 for 2000 Tundra. Amazing.

Looks like you got a new LC?

 

I agree. That's a damn good offer honestly. $12,500 could buy you a very nice 1st Gen. Anything he gets from the other insurance is icing on the cake. I believe he already owned the LC prior to this hit and run.

 

Yes, got the LC in December. I've had the Tundra since new. Lots of family memories in that truck.

After talking to my insurance agent neighbors, I realize there ought to be a guide on how to minimize your losses when something like this happens. Insurance companies want to keep you ignorant and keep their prices down.

 

I sold a color specific Century camper topper that was on my 06 double cab pretty easily/quickly for $400. Buyer drove 400 miles round trip to get it and the color didn't match his truck. He said he had been searching for used one for 4-5 months and mine was the only one he had found. In hindsight I should have priced it higher.

 

Thanks for the update. Enjoy shopping for your next truck.

 

That's good news. You will definitely be able to find a nice truck for that amount. I picked up my 03 with 31k mi for $16k last October. Good luck on the search!

 

That seems particularly fair for a first offer (or any offer really) and more than I would expect from a typical insurance company....is your insurance USAA?

 

Yes, USAA. But comps in my area for a truck like mine are high. With similar miles I'm seeing anywhere from 12,000 to 17,000 and you have to add 10% sales tax and registration (another $300-500). And my truck, a one-owner low mileage limited AC TRD with leather and excellent condition, is fairly rare among them. The at fault insurance company is GEICO. We'll see. USAA's offer was higher than I expected for a first round.

 

I figured as much, USAA has treated us very well too.

 

I'm glad you're getting treated fairly, we have become so accustomed to the flip side of this we have become tainted

 

Bring your recent receipts you have paid for to on work rendered for the truck
When meeting with said ins. adjusters

 

Well, almost done. Last offer from my insurance co. Is $13,557 (which is $12,324 before taxes) I plan to retain (retain value is 1,600) straighten the frame (A good shop quoted $2000) and drive it until the 2021s come out with 30mpg, >7” display, apple car play and push button start. I just hope they look as good as the current Tundras!

 

How do you convert the salvage title after the frame is straightened?

 

I've wondered how this works. Did you have to buy it back from insurance?

 

I will simply tell my insurance company I want to retain the vehicle, they deduct $1,600 from the settlement and it’s done—then send it off for repairs. If I hadn’t owned it since new and knew the maintenance history, I would just let it go. But, prior to the accident, the truck was in excellent mechanical and cosmetic condition.

Every state is probably different. In Washington state, salvage title cars are inspected primarily for stolen parts. As I have been told, they don’t really inspect for safety.

 

That makes sense, inspecting for airbags and cat converters and the like that have value on the black market. Please keep us updated as you go through the process. Thanks.