1. Gather comparable sales data:
Find recent sales listings or advertisements for similar cars in your area. This will give you a good starting point for your negotiations.
2. Consider additional expenses:
In addition to the blue book value, you should also include any additional expenses you have incurred as a result of the accident. This may include things like towing fees, storage costs, and car rental expenses.
3. Factor in taxes and finance costs:
As you mentioned, you will need to pay 10% in taxes and finance costs for a new car. Make sure to include these costs in your negotiations so that you are able to purchase a comparable replacement vehicle.
4. Get estimates for repairs:
If the car is repairable, you can get estimates from reputable auto body shops to show the insurance company the cost of repairs. This can help you argue that the blue book value is not enough to cover the actual cost of replacing the car.
5. Negotiate:
Don't be afraid to negotiate with the insurance company. Be prepared to provide evidence to support your claim and be willing to walk away if the insurance company is not willing to meet your demands.
6. Consider legal representation:
If you are unable to reach an agreement with the insurance company on your own, you may want to consider hiring an attorney to represent you. An attorney can help you negotiate with the insurance company and may be able to get you a higher settlement.
By following these tips, you may be able to get more than the blue book value of your totaled car from the insurance company and ensure that you have enough money to purchase a comparable replacement vehicle.
