Beastmode89

iTrader: (2)

It has been months since I've heard anything about my wrecked 2001 formula. Today my former insurance company called me about an issue with the title being signed correctly. I asked them if I could still buy it back and they said yes. I am currently awaiting the call with the price and details.

The car is a red 2001 formula hardtop. 102k miles. M6. Cloth interior in damn near perfect condition. NO cracks in dash. Monsoon door panels with NO cracks at all (might keep those for myself). LS1 with LS6 intake in excellent condition. The car was hit in the rear passenger tire. The body is in pretty good shape considering how fast the woman that hit me blazed through the stoplight. The rear axle is bent, and there is frame damage in one spot close to the passenger bumpstop. The rear quarter and passenger door are messed up. Pretty much everything else is fine from what I remember.

What would the engine/tranny drop out and big interior pieces such as dash pad and center console bring? Or the whole car for that matter?

I'm just trying to decide if the car is worth buying. I will update with the price they want for the car as soon as I get the call from them.

Beastmode89

iTrader: (2)

LOL nevermind. State farm called me back. They want $2500 for a vehicle that has an estimated $10k in damage. The book value for the car is only $7k. They're crazy.

Jet49

I would think you should be able to talk to them and get that price WAY down. Show them the book value for example and the damage estimates.

NC01TA

Just as well. It is never worth buying back a 'totaled' car from an insurance company unless you have a real love for the car and want to restore it to it's original condition for yourself to enjoy for many years.
Otherwise, they have all the numbers worked out, and for anyone to think they can do better, it isn't likely. All you are buying are parts with high mileage on them or a car with a bad title, and everyone knows how tough they are to sell.

Baker1k

iTrader: (1)

I would try talking them down some. There is quite a bit of money to be made parting these cars out of ya wanna take the time to do it. Engine/trans and harness bring what they are asking for swaps. Or you could always find a donor car like a rx7 and make a light weight beast.

Beastmode89

iTrader: (2)

I tried talking them down already. State farm is a joke. They said that the last 2 they sold were in the $2500 range. I asked what kind of damage they suffered. Come to find out the two they recently sold were driving cars with around 5-6k damage. My old car runs, but the frame is screwed up and the axle is snapped in half. They wouldn't budge from their price. Oh well.

Raleigh TA

iTrader: (13)

I accepted $500 less on my payout and kept my '98 after it was rear-ended. I got $2500 value in trade for a paint job on my current '99. That car had 220,000 miles on LS1/M6 combo. The new owner got the frame straightened and the car looks and runs great. He has plans to drop a 6L in it, but she still on the road with OE. I'd say you could get $2K for the engine/trans combo, $500 for a good interior, and likely another $1K for doors, fenders, wheels, and other salvageable items, then whatever they pay for scrap metal on the frame and chassis leftover weight. You could make money if you have a place to store it while you pick the carcass. I did not have such a place and had to sell it whole, and I am very happy to see it running done the road every once in a while.

hwcoll95

iTrader: (1)

i'm looking to buy a wreck to change over into my other projuect,a complete running car for 2500 might interest me,i'm sure you could get your money back,f you have time and part it you can make more