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Do "Aftermarket engines" decrease value of a totaled car?
Do "Aftermarket engines" decrease value of a totaled car? My car was totaled. I put an engine in about 15,000 miles ago and I have a receipt for it 7k. The insurance guy that called me said he didnt know if it would increase or decrease the value. My receipt says L92 crate engine. My question is wether i should send them my receipt because I'm wondering if that fact that it is not an ls6 is going to hurt the value. Or if it will increase the value at all. Thanks.
if i ever have my car totaled im towing it to my house. The insurance isnt going to give you what you paid for any of that stuff on the car. Sooo if & when that car ever gets totaled theyre going to get a frame only. but to answer you ? i think it would probably depreciate the value of the car unless you have you coverage set to cover the aftermarket motor.
Teching In
Joined: Jan 2009
Posts: 48
Likes: 0
From: Groves,Texas
In your case they will price a brand new crate motor to the one you purchased and Add/Sub from the difference. Labor is not included in insurance claims unless they are fixing it. So basically if a brand new motor cost 5k, and you payed 7k the insurance will pay you 2,000 but thats not including "depreciation" which they love to do.
Thanks. I went ahead and faxed the receipt so i will find out tomorrow if it added to the value. They are already giving me over blue book(more than what i paid for it 2 years ago) for whatever reason. I wanted to buy the car back to get the engine, but they are asking way too much for me to buy the car back. Whoever buys that car at salvage is going to get alot more engine then they bargained for.
Teching In
Joined: Jan 2009
Posts: 39
Likes: 0
From: Pacific Northwest
if i ever have my car totaled im towing it to my house. The insurance isnt going to give you what you paid for any of that stuff on the car. Sooo if & when that car ever gets totaled theyre going to get a frame only. but to answer you ? i think it would probably depreciate the value of the car unless you have you coverage set to cover the aftermarket motor.
this is correct
well my car is paid off so it wouldnt matter if they gave me money for the frame or not. If he paid $ for the motor and the insurance doesnt reimburst him for him. i dont see no reason why he shouldnt be able to take it out.
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If you still have the stock engine you can swap them out and keep your good one. Insurance still has to pay the car value. I've done that before. It doesn't even have to run, just put the parts in there.
Original poster, where are you located and who is your insurance company?
Vernon
Original poster, where are you located and who is your insurance company?
Vernon
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Probably not, as he said he just faxed them the receipt. So in the insurance companies mind - he has a completely stock car, and that is the premium they have been charging him.
OP:
If they give more money for having that motor in the car, and you never reported it to them, you will be extremely lucky.
Question is...did he report the new modifications to the insurance company when they were installed?
Probably not, as he said he just faxed them the receipt. So in the insurance companies mind - he has a completely stock car, and that is the premium they have been charging him.
OP:
If they give more money for having that motor in the car, and you never reported it to them, you will be extremely lucky.
Probably not, as he said he just faxed them the receipt. So in the insurance companies mind - he has a completely stock car, and that is the premium they have been charging him.
OP:
If they give more money for having that motor in the car, and you never reported it to them, you will be extremely lucky.
if they wont pay for the motor 
I guess i'm lucky they gave me almost 2k extra for the engine. I'm getting 6k over retail blue book. And I was about to give this car away for 2k under blue book. If anyone works for any salvage yards look for a silver 01 zo6 with injector harness adapters and you will get alot more engine than what you paid for.
Its their job to settle with you for as little as you will take. You're actually better off pulling the engine, selling/parting it out, and putting some older or close to orginal stock motor in there
I bought a 1999 camaro z28 early November last year. I put a forged/built MS3 cam motor from a guy on here(bty a total dick) that was built by HKE, 1 7/8X3" kooks L/T, 3" kooks y-pipe, and borla stinger muffs. All the bells and whistles on the car, ran pretty good, never hooked up the 150 shot. Some ******* pulled out in front of me in February and totaled the car. His insurance company let me buy the car back and gave me $5500 cash back, if I didnt buy the car then they were going to give me $7800 for it.
Price of car-$8500
Mods & install-$9000
Total overall-@ $17500
Totaled car-$5500
Total loss on car-$12000
So either buy it back, fix it back like im doing, or lose it...either way its a loss on your end. Sucks
Price of car-$8500
Mods & install-$9000
Total overall-@ $17500
Totaled car-$5500
Total loss on car-$12000
So either buy it back, fix it back like im doing, or lose it...either way its a loss on your end. Sucks
Actually they want 7k for the car back. I could get the same engine built for that price, and i'm not so sure anything else on the car is good. I'm only losing 1000 total and that is after I put the engine in and drove the car for two years. I was going to lose 8k trying to sell it. It actually worked out better this way.
