[DeTomaso] Bad news

[Mike Drew]

JT,

Your recency of experience is illustrative. 

I realize that the car I'm helping buy back was not purchased by the owner from the insurance company. Instead it was purchased from Copart, the company that disposes of wrecks for the insurance company. It was an auction affair. It's possible the insurance buyback price to the owner would have been much higher. 

We can only wait and see....

Mike

Sent from my iPhone

> On Dec 15, 2017, at 20:55, <jtaphorn at kingwoodcable.com> <jtaphorn at kingwoodcable.com> wrote:
> 
> Mike
> 
> You may be correct. However, we learned from Hurricane Harvey that the buy back seemed to be a function of the insured amount.  The range that I quoted was what we saw for flood cars. I didn't get the perception that intrinsic value of surviving components mattered at all.  
> 
> Perhaps a consequence of agreed value insurance, once determined to be totaled, the insurance company paid out regardless of area of damage and the buyback was a % of insured amount. The appraisers didn't inventory surviving pieces to determine buyback amount. That is the way it looked to me.
> 
> It will be interesting to learn David's experience if he shares it.
> 
> JT
> 
> 
> ---- Mike Drew <MikeLDrew at aol.com> wrote: 
> 
> =============
> JT,
> 
> Given the extent of the body damage I would be very surprised if he had to pay more than $10k to buy it back?
> 
> Mike
> 
> Sent from my iPad
> 
>> On Dec 15, 2017, at 19:32, <jtaphorn at kingwoodcable.com> <jtaphorn at kingwoodcable.com> wrote:
>> 
>> Wow David, glad you came through unscathed.  
>> 
>> I'd consider buying it from the insurance company (probably between $15k & $20k) and selling it on e-ba/forum y to someone with the skills, money and time to restore it.  Then buy a nice driver with the gross proceeds.
>> 
>> JT
>> ---- David <adin at frontier.net> wrote: 
>> 
>> =============
>> 
>> 
>> Before:
>> 
>> cid:image003.jpg at 01D375DD.4AA62120
>> 
>> Dear Friends,
>> 
>> 
>> 
>> Long known as "Grouchy & Dirty", it takes some tragedy to remind me of who
>> my friends really are.
>> 
>> 
>> 
>> Suffering from low O2 (I have been told) I fell asleep driving the Pantera
>> home from a paint match appt. Through a fence, through the cedar forest,
>> downed a sign,  through a cable fence (amazing I wasn't decapitated!),
>> through the air over a driveway and parked in a tree.  What we call . . .
>> the Finch?
>> 
>> 
>> 
>> After: https://www.youtube.com/watch?v=ljw43T0mI_8 
>> 
>> 
>> 
>> Insurance says car is totaled, Jim D. says it can be fixed. Options: part it
>> out or fix or sell as a project?
>> 
>> 
>> 
>> Other than some pulmonary issues, that is all the news.
>> 
>> 
>> 
>> Be safe, STAY AWAKE, have fun.
>> 
>> 
>> 
>> All the best?
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>> 
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