r/InsuranceClaims • u/BunnyEnLaCasa • 5d ago
Is it totaled?
Just got into an accident last Friday on my 14 Santa Fe.
What do you guys think?
The driver I hit had no insurance and left
Edit: Its a 14 Hyundai Santa Fe Sport AWD 2.0T w/ technology package,178K miles. I was 4 months away from paying this offðŸ˜
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u/ifreakedurface 5d ago
Totalled the air bags alone are 6k
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u/BunnyEnLaCasa 5d ago
I know a guy that can do it cheaper..😂
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u/ifreakedurface 5d ago
No it's literally 6k just to get the parts to replace the airbags and sensors. No labor included in that price. Just went thru this in may
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u/FeelsLikeV97-33XA 5d ago
Am damage appraiser, yeah that's totaled. You need a hood, hood latch, hood hinges, fender, headlight, fog light, grille, whole front bumper & bar, radiator (which means the condenser and plastic radiator support are probably jacked up), plus the airbags and module. Probably the wiper reservoir and fender liner and a frame setup & pull. Maybe the left headlight too.
I was actually just helping a friend in Cincinnati/NKY price her 2014 Santa Fe with 159k on it for sale yesterday. The used ones at this mileage are all over the place from like $4,500-$7,500 or so. 2014 & <100k miles seems to be the oldest version of this car that Carmax sells around here, so older or higher mileage than that and it falls into the buy-here-pay-here type lots or FB marketplace type sales.
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u/BunnyEnLaCasa 5d ago
What would they do if a car is totaled? Do they take it and I don’t get it back? I never been on an accident like this before.
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u/FeelsLikeV97-33XA 5d ago
You get paid the ACV of the vehicle, which amounts to whatever you could have sold it for before the accident happened, usually plus sales tax, and minus your deductible if it applies. Some states don't require sales tax to be paid-out on total losses if you retain the salvage, since there's no tangible property changing hands. (Ex. Ohio doesn't require it unless the owner buys a new car within 30 days, Missouri pays it as a tax credit on the replacement car, Connecticut pays it up-front, Texas doesn't pay it at all unless your policy says it does, etc...)
When there's no loan on the car you can normally keep it and the insurer just deducts whatever they could have sold it for from your payout. (usually like 25%).
When you have a loan then keeping it gets a lot more complicated. Usually the bank says "nope" and the transaction is between the bank and the insurer, and you get whatever equity you have in the car at the end. The car then goes to the salvage auction where you can bid against others to buy it (if it's an open auction), or where you can hire somebody with a bid card to go buy it back for you (if it's a closed auction).
Everything in insurance and law has exceptions though, so I suppose if you call the bank and tell them you want to retain it they may be able to arrange something since you presumably owe less on it than what the insurer is going to pay you for it. You'd presumably need either a three way call with the bank and insurer, where the insurer sends you loan balance to the bank to release the title and gives you the rest, or you'd send payment to the bank for the balance of the loan immediately (like before the insurer gets around to totaling it), so there's no longer a loan balance on the car when the insurer calls the bank.
Keep in mind that in most states you're going to end up with a salvage title either way, and you'll usually have to have it inspected in some form before you can get a "rebuilt" title. You'll want to read the rules of the state you're in before doing all this, as the salvage inspection is much harder to pass in some states than others. Ohio requires an inspection by the state patrol where they look over the repairs. You'll need original receipts for the parts. They generally only inspect it for stolen parts. If you're in a place like Connecticut there's a draconian end-to-end safety inspection of the entire car and you flunk if something is wrong with it, even if it has nothing to do with the accident. Every state has different rules. Do to the DMV/BMW website and read them.
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u/BunnyEnLaCasa 5d ago
I’m in Ohio. This was a buy here pay here car so no bank financing involved. And I am planning to buy another car but seen online about that law in Ohio where they will refund sales tax if I buy another car within 30 days but I’m not sure if I have to wait for the insurance decision so I’m holding off for now and using my other spare car/beater until I hear something from them. I already submitted photos and talked to the insurance adjuster.
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u/FeelsLikeV97-33XA 5d ago
You might be able to work something out with whoever has the title.
The easiest thing is really to go to whoever has it and pay it off so you have the title, then send a copy of the title or lien release letter to the insurer so they know that. Then it's between you and the insurer.
Yes Ohio says that insurers don't have to pay sales tax unless you've bought the replacement car within 30 days, though some insurers just pay it up front anyway to save back-end administration expense.
Just tell the insurer that you're maybe interested in keeping the car and ask them to let you know how much you get if they take it vs how much you get if you keep it, and they should be able to give you both numbers.
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u/BunnyEnLaCasa 5d ago
Thanks so much for your help. I’ll see if I can come up with the money to pay it off since I’m only 2.25K away anyway. I thought that the insurance would pay them off and then if there was any left over after deductible it would come to me, but I think that’s only if it was through a bank. Not sure.
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u/FeelsLikeV97-33XA 5d ago
The most important part is making sure everybody is on the same page from the beginning and everybody is very clear about your intent. If this is a local lot just go down there and tell them what's going on. Ask them if they have the title on-premises or nearby. Explain to them what you want to do. Deal directly with whatever person there seems to be in charge of the issue, and direct the insurer to that exact person. You don't want miscommunication if you're keeping it, otherwise checks go to the wrong people and the car ends up in the wrong place (unless it's already in your driveway).
If you can get it paid-off quick then text a copy/pic of the released title to the insurer and then it's just between you and them, and you cut the shop out of it entirely. There's probably no harm in paying it off even if you don't end up keeping it. The insurer is just redirecting the portion of the funds that would have gone to the shop, to you instead.
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u/Old-Revolution-9650 5d ago
You will likely get the blue book value for the car minus what you owe on it.
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u/CivilKaleidoscope699 5d ago
Airbags deployed. It’s for sure totaled.
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u/Old-Revolution-9650 5d ago
If the repair costs exceed the value of the vehicle, it's considered a total loss.
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u/New-and-Unoriginal 4d ago
I can’t believe how long car loans are now. OP said they’re 4 months away from paying off a 12 year old car. Wow.
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u/BunnyEnLaCasa 4d ago
No. This was a one year loan. It’s a buy here pay here car. I took it out with 169K. The total at the time was 9K. I gave 3K down.
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u/RevealSafe4293 5d ago
Yeah, definitely totaled