Total Loss - Settlement Money is Not Enough to Buy Similar Car

Apr 18, 2014

  1. laguna

    laguna New Member

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    Hi Guys, thank you very much for reading this!

    I was involved in an accident last week (we're all okay :)) when a lady did a U turn on a red arrow and hit my car. I have the police report that says it was HER fault. My car was totaled.

    I'm in California and I have a 4 door 2010 VW GTI (51k miles). I bought it CPO and got the extended warranty. VW gives you 36k miles warranty and the extended wty is up to 100k.
    Well, the thing is that they want to give me $20443 for it.

    I checked KBB and the value is KIND of correct (19000 is the price, but they have to pay for the taxes, so the price should be 21k).
    I know i can get some money back for my extended warranty.

    Now my problem(s):
    * If they give me that amount, it's not enought for me to buy a car with extended warranty.
    * To be able to buy extended warranty again i have to have a CPO and the cheapest CPO is 21k (+9% taxes!!!)
    * I just spent this month $1000 in new tires

    Maybe it sounds stupid, but with what they want to give me, i cannot have the same as i had. It's not enough to buy a car with extended warranty (even if I get 100% of the money of the extended warranty) or a CPO. I may have to buy it used to who knows who!
    What can I do?
    I didn't accept the first offer and the guy said some other adjustor is going to call me back on monday, but as far as I have read, they "never" give you more than $500 of the first offer.

    My insurance company is AAA.

    BTW, the cheapest car i could find that's CPO, automatic and with 4 doors is 23k (+taxes)

    Thank you very very very much!
    laguna, Apr 18, 2014
  2. shawnmwalker

    shawnmwalker Guru

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    It sounds like they are giving you enough to buy another car just not enough to buy the warranty.

    I imagine, they are not on the hook for the warranty a consumer may or may not want and that additional price.
  3. Theinsuranceguys

    Theinsuranceguys Expert

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    Can't you get a refund for the amount you paid on the extended warranty?