My Flooded 3700 Mile 2004 Lightning - Lightning Forum | LightningRodder.com
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post #1 of 37 (permalink) Old 09-22-2017, 09:21 AM Thread Starter
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My Flooded 3700 Mile 2004 Lightning

I got a call from my insurance company. They offered $17969.00 for the truck and $3600 off that to buy it back plus fees for title transfer and taxes of $1146. This would leave me at $13223 and change.

It will have a JUNK title and could not ever be registered for road use ever again.

My question is..... is that a fare value of the truck with 3700 miles on it.

My initial investment was $21500 so I would be out $3500ish letting them take it verses $8277 keeping it. I can't see getting anywhere close to $8277 from it anyway I worked at it.

Monies to me:
$17969 if I let it go.... @$3531 loss
$13223 if I keep it... @$8277 loss

Should I fight the value of $17969 or settle?

I do not see much value in keeping it at a $4746 loss off of my claim. With having to work on replacing two driver vehicles and repairs to two flooded houses I do not see me getting to this MAJOR project anytime soon anyhow.
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post #2 of 37 (permalink) Old 09-22-2017, 10:21 AM
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How bad was it flooded?
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post #3 of 37 (permalink) Old 09-22-2017, 10:34 AM
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Toss an ad on facebook real quick to see if anyone wants a salvaged super low mile truck for $8277? They're usually super quick to respond over there if there is interest.

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post #4 of 37 (permalink) Old 09-22-2017, 10:39 AM
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Why couldn't it be registered with a salvaged title? I see them for sale all the time.


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post #5 of 37 (permalink) Old 09-22-2017, 10:42 AM
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$18K for a 3700 mile '04 is ridiculously low if the truck is in good condition.

Is this the truck in your avatar? What's going on with that finish?

'04 DSG
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post #6 of 37 (permalink) Old 09-22-2017, 10:49 AM
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At least you kept the miles off by not moving it before the hurricane showed up.

All joking aside, how bad was it damaged?
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post #7 of 37 (permalink) Old 09-22-2017, 10:57 AM Thread Starter
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10-12 inches of the cab did not sustain any water damage.
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post #8 of 37 (permalink) Old 09-22-2017, 11:03 AM
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I'd love to buy one with the same miles for $17969.00. Seems low to me.
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post #9 of 37 (permalink) Old 09-22-2017, 11:14 AM Thread Starter
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Negotiations

I just got off the phone with them they actually are offering $18996.77 minus my $995.00 deductible leaving $17974.77 not sure where the $32.77 went.. The comparable are being reran since the mileage of their comparables were MUCH higher mileage trucks.
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post #10 of 37 (permalink) Old 09-22-2017, 11:16 AM Thread Starter
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Quote:
Originally Posted by Gimp View Post
At least you kept the miles off by not moving it before the hurricane showed up.

All joking aside, how bad was it damaged?
Believe it or not that finish got me a small adder....LOL

It was like that when I got it.... it was going to be refinished to the original DSG.
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post #11 of 37 (permalink) Old 09-22-2017, 11:20 AM
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if i can't ever be registered for street use, etc. than I'd take the offer. I can only imagine how many flooded cars, homes etc. people have lost in Texas, Florida, etc that don't have proper insurance and have total losses.
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post #12 of 37 (permalink) Old 09-22-2017, 11:52 AM
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I would take the nearly $18k you are going to get and run.

It's a shame but that's what I would do.

Collector status gone now with title situation and $18k plenty of money to find another decently low mile truck to drive and enjoy.

Just my opinion.

Colin P. Smith
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post #13 of 37 (permalink) Old 09-22-2017, 12:54 PM
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With that low mileage I would put up fight. Never give in at first offer. To me it is worth more than that.
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post #14 of 37 (permalink) Old 09-22-2017, 01:57 PM
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What he said.....
Insurance companies are all about making money. You pay them every month, may as well try to get the maximum amount back that is due you.

Look at some of the low mileage 04's on Ebay... $18-$25K... ( not that they'll get it).

Everything is negotiable my friend.. NEVER accept the insurance companies 1st or even second offer... Hold out for $19-$20K.... Just my .02


Quote:
Originally Posted by AzRedLightning View Post
With that low mileage I would put up fight. Never give in at first offer. To me it is worth more than that.

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post #15 of 37 (permalink) Old 09-22-2017, 03:02 PM
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Quote:
Originally Posted by 1QKTRK View Post
What he said.....
Insurance companies are all about making money. You pay them every month, may as well try to get the maximum amount back that is due you.

Look at some of the low mileage 04's on Ebay... $18-$25K... ( not that they'll get it).

Everything is negotiable my friend.. NEVER accept the insurance companies 1st or even second offer... Hold out for $19-$20K.... Just my .02
Dawgone good advise!! Hang Tough 5.4sc. Hold their feet to the fire. You know the saying "you are just a number"
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