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?

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.

what happened? details

Take the money and run

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.

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.

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

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 :confused: :confused:

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.

I think the wholesaler told me a pre 04 was something like 20-23k.