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They will look at sales figures through Manheim (not listing prices) and you'll end up with a wholesale payout of 50-70% of what you paid for the car.

It's your risk to take, all we can do is try to look out for your interest.
 

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Discussion Starter #22
They will look at sales figures through Manheim (not listing prices) and you'll end up with a wholesale payout of 50-70% of what you paid for the car.

It's your risk to take, all we can do is try to look out for your interest.

Gotcha. Like I said, covering the cost of the vehicle is only one part of what I am looking for with insurance. BTW, I am on manheim all the time, and these cars dont go that cheap ;)

Dealers dont make 30-50% margins on the cars.
 

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Gotcha. Like I said, covering the cost of the vehicle is only one part of what I am looking for with insurance. BTW, I am on manheim all the time, and these cars dont go that cheap ;)

Dealers dont make 30-50% margins on the cars.
This is truth. Exotics are very hard to make good margin on buying from Manheim.

In regard to the insurance payout from State Farm, my first check attempt by them on my old Gallardo was very low. They took the 2 cheapest examples and then deducted miles from that number. I argued that the market was much larger than 2 cars and that if they’re already deducting for miles then they should broaden the evaluation points and then deduct for miles.

At the time my car has almost 90k miles on it, and the comps they were using had about 50k. The argument went nowhere and we ended up each covering the cost of a separate appraiser, whom both planted the ACV about $20k higher than State Farm’s original “adjuster”. My second check was quite a bit higher than I anticipated as I was only arguing for about $10k in value, but all was validated by the independents so I didn’t mind taking the extra.


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Discussion Starter #24
This is truth. Exotics are very hard to make good margin on buying from Manheim.

In regard to the insurance payout from State Farm, my first check attempt by them on my old Gallardo was very low. They took the 2 cheapest examples and then deducted miles from that number. I argued that the market was much larger than 2 cars and that if they’re already deducting for miles then they should broaden the evaluation points and then deduct for miles.

At the time my car has almost 90k miles on it, and the comps they were using had about 50k. The argument went nowhere and we ended up each covering the cost of a separate appraiser, whom both planted the ACV about $20k higher than State Farm’s original “adjuster”. My second check was quite a bit higher than I anticipated as I was only arguing for about $10k in value, but all was validated by the independents so I didn’t mind taking the extra.


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Glad it fell your way on that one. As I mentioned, I have been through the payout ACV dispute with another company before. In my state it is a pretty straight-forward progress. It usually does not escalate past the point you settled at. I chose the option of having a state-licensed appraiser, and accepted the offer. You could also pursue further, but the Gallardo market is so 'tight' relatively speaking, establishing value is not terribly difficult.

Coupled with my outlook that insurance is for more than just covering the value of the car, I will cross arguing value if God forbid, it ever comes to that point.

Just STILL surprised how cheap the quote was (and again, that is the highest liability and personal injury policy they write...not a bare bones state minimum). My agent told me as long as it is not a Corvette or Lotus you are pretty good. ;)
 
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