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  #1  
Old 09-03-2007, 09:10 PM
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A total loss question.

My 2004 X5 is totaled and the insurance (GEICO) wants to give me $28,500 for it. The car was in excellent condition although my love for had input some 63,000 miles in its odometer. I checked online for its value: kbb.com appraise it as $29,175 and nada.com has it for $30,700. I don't know which database insurance company uses to get their info. Does anybody has an idea of how to should proceed?
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  #2  
Old 09-03-2007, 09:18 PM
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Black book on that car is between 27,000-28,000. There actually going a little over black book (wholesale value) for the car. KBB is not the value they go by. Take the check.

I just traded my 2004 X5 with 55,000 miles in a few weeks back, wholesalers were even low balling black book offering 25K for the car, finally found one to give me 27k.
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Old 09-03-2007, 09:19 PM
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what happened? details
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Old 09-03-2007, 10:14 PM
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Take the money and run
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Old 09-04-2007, 12:00 AM
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Quote:
Originally Posted by Wagner
Black book on that car is between 27,000-28,000. There actually going a little over black book (wholesale value) for the car. KBB is not the value they go by. Take the check.

I just traded my 2004 X5 with 55,000 miles in a few weeks back, wholesalers were even low balling black book offering 25K for the car, finally found one to give me 27k.
Is this a 3.0 or a 4.4 ?, It sounds like a 3.0 because I would think the a 04 4.4l is worth a little bit more.
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Old 09-04-2007, 08:28 AM
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Wrong, I had a 4.4. The SUV market as a whole has taken a black book hit and luxury SUVs are worse then the rest. $28K from Geico is a steal and it should be taken without a second thought.
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Old 09-04-2007, 09:39 AM
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Shouldn't the Insurance company pay the "replacement value" as opposed to the "wholesale value"? In my view, that would be NADA "retail" on the vehicle...

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Old 09-04-2007, 09:59 AM
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Quote:
Originally Posted by Wagner
Wrong, I had a 4.4. The SUV market as a whole has taken a black book hit and luxury SUVs are worse then the rest. $28K from Geico is a steal and it should be taken without a second thought.
WOW, so if my 02 4.4l 62k miles is totaled today, what should I expect to get from my insurance company ??, I also have Geico
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Old 09-04-2007, 10:17 AM
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Quote:
Originally Posted by Kelly
Shouldn't the Insurance company pay the "replacement value" as opposed to the "wholesale value"? In my view, that would be NADA "retail" on the vehicle...

-- Kelly

Not generally from my experiences. That is why Alstate insurance advertises how they replace the car for nearly the sale value (ie: kbb) as opposed to black book value.
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  #10  
Old 09-04-2007, 10:18 AM
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Quote:
Originally Posted by rudejamaican
WOW, so if my 02 4.4l 62k miles is totaled today, what should I expect to get from my insurance company ??, I also have Geico
I think the wholesaler told me a pre 04 was something like 20-23k.
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We the People of the United States, in Order to form a more perfect Union, establish Justice, insure domestic Tranquility, provide for the common defence, promote the general Welfare, and secure the Blessings of Liberty to ourselves and our Posterity, do ordain and establish this Constitution for the United States of America.

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