Totalled my 95fzj80... Looking for unbiased opinions of value to settle claim

[cruiserfanc]

Im torn up about this, but I was involved in a car accident about two weeks ago and my 95 FZJ80 was torn up pretty good. Im at odds with my insurance company about the settlement of the claim and thought I would post here to see if some of you guys could give me your honest opinions about how to proceed.

I've owned it for about 10-12 years and purchased it from an elderly couple in florida and it has been used mostly as a weekend tailgaiter, never been off of fire roads. Its completely stock except for an aftermarket sound system (build thread)

I just had the brakes/rotors replaced, had the wheel bearings repacked along with the knuckles and axle seals replaced. Plus, just put new Coopers on it 500 miles ago.

It has 169k on it and has the elockers and outside of normal wear, I thought it was in pretty good shape. Paint is good, and has spent its life in FL and NC and never been off road other than 4-5 trips to the Outer Banks to fish but always rinsed.

My insurance company has offered me $5,000 for it based on one that is for sale locally. I found the "comp" listed on ebay for you to compare.













I more pics I can add but these are the ones I took at the salvage yard.

I feel like it can be fixed but obviously with them valuing it at $5k, the damage is over 70% of the value, which is where negotiations have stalled. They are surveying 2 local dealers for a value and should hear something tomorrow or wednesday but wanted to reach out to you guys to get your unbiased opinion about what it realistically is worth?

Its difficult using KBB or NADA for these rigs, as you know but the scarcity of them, especially with lower miles, are making finding a local comp unreasonable. The other thing that is hard to explain to them is the fact that the elockers were not listed as an option available for some reason, and that makes a big difference in value for these rigs IMO.

Maybe I am just too emotionally attached to it, but Im just sick over it....I know its not upfitted as an expo rig but I loved my 80 and kept it maintained to keep forever and build up someday when I had time to actually use it the way it was meant to be used.

Anyhow, thanks in advance for any opinions or advice in dealing with my situation.

-Murph

 

[MTSN]

$5k is a lot more than I would have expected for a first offer from an insurance company, but I do think you would have been able to get more for it if you still had it pre-wreck and listed it for sale on the open market. Value varies quite a bit based on region, but I'd expect around $7k maybe more here in CO especially since it was locked. The older a truck is the more variables there are, so keep in mind anything you read here will be anecdotal.

 

[cruiserfanc]

$5k is a lot more than I would have expected for a first offer from an insurance company, but I do think you would have been able to get more for it if you still had it pre-wreck and listed it for sale on the open market. Value varies quite a bit based on region, but I'd expect around $7k maybe more here in CO especially since it was locked. The older a truck is the more variables there are, so keep in mind anything you read here will be anecdotal.

Fair enough, thanks for the input.

I guess I was just kind of surprised to receive a $5k offer after checking the NADA book value on it (which blew me away, to be honest) as well as looking for something with similar miles on autotrader, craigslist and ebay. I found 4-5 that appeared comparable in the $9-12k range but you know how that goes...

I honestly never thought about it the value. Still think it can be fixed though...

 

[brentbba]

First - hope you are all ok! I have to agree with MTSN. For a first offer $5K for a '95 is in the ballpark unfortunately. Damage to both front quarter panels, bumper, grill, hood and god knows what else under the hood, I'm not surprised that it's totaled for insurance purposes and that's before knowing if there's any frame damage. They don't care about a premium sound system, recent maintenance or fresh tires. I think you'd be very lucky to get them up to $6K because of the low mileage.

No clue where your insert with $38.6 MSRP on these trucks came from. My '94 was $46K MSRP new when I bought it. Had everything except hitch and rear wind deflector tho! Looks like yours has factory leather as well given the center console armrest with the leather on it. Most port installed leather did not have that, not that it'll make a difference in your negotiations! Good luck and keep looking for comps! As MTSN also stated, these older trucks will vary greatly in value depending on where in the country they were and now are in looking for retail value.

Another place to look for comps would be over on IH8MUD classifieds as that's the preeminent Landcruiser board in the world.

 

[Ovrlnd Rd]

Your best bet is looking for real world comps (eBay comp won't fly). Like brentbba said, maintenance issues don't matter but they should have listed the tires as "clean" since they're new and given a bump in the overall value. You also have the option of taking their offer less the salvage value and keeping it. If the damage is mostly bolt on parts (hood, both fenders, bumper) you would probably come out ahead. I don't know if the core support is bolt in or welded on it but if it's a bolt in part then labor to fix should be reasonable. Frame damage is a tough call as they'll want a couple of hours of frame time just to set it up and measure it whether there's any actual damage or not. Based on the limited visibility of the damage shown I'd think it's easily fixable for under what they're offering you but they have to look at percentage of damage/value.

It comes down to taking a reasonable offer less salvage and keeping a fixable vehicle or just letting it go for a few hundred more. If you can get another grand out of them I'd be surprised unless you can show actual vehicles that actually sold for more money. If it were mine I'd keep it as a second vehicle and go crazy with aftermarket parts with the extra money.

 

[cruiserfanc]

First - hope you are all ok! I have to agree with MTSN. For a first offer $5K for a '95 is in the ballpark unfortunately. Damage to both front quarter panels, bumper, grill, hood and god knows what else under the hood, I'm not surprised that it's totaled for insurance purposes and that's before knowing if there's any frame damage. They don't care about a premium sound system, recent maintenance or fresh tires. I think you'd be very lucky to get them up to $6K because of the low mileage.

No clue where your insert with $38.6 MSRP on these trucks came from. My '94 was $46K MSRP new when I bought it. Had everything except hitch and rear wind deflector tho! Looks like yours has factory leather as well given the center console armrest with the leather on it. Most port installed leather did not have that, not that it'll make a difference in your negotiations! Good luck and keep looking for comps! As MTSN also stated, these older trucks will vary greatly in value depending on where in the country they were and now are in looking for retail value.

Another place to look for comps would be over on IH8MUD classifieds as that's the preeminent Landcruiser board in the world.

Thanks for the input...The insert I clipped from a screenshot yesterday from nadaguides.com (National Auto Dealers Assn) which has been used for years by banks as well as this particular insurance company for determining value. Kind of like Kelly Blue Book. I think they have lost their cred as new tools and tech have begun to monitor in real time the "market rate pricing" of the used car market.

 

[cruiserfanc]

Your best bet is looking for real world comps (eBay comp won't fly). Like brentbba said, maintenance issues don't matter but they should have listed the tires as "clean" since they're new and given a bump in the overall value. You also have the option of taking their offer less the salvage value and keeping it. If the damage is mostly bolt on parts (hood, both fenders, bumper) you would probably come out ahead. I don't know if the core support is bolt in or welded on it but if it's a bolt in part then labor to fix should be reasonable. Frame damage is a tough call as they'll want a couple of hours of frame time just to set it up and measure it whether there's any actual damage or not. Based on the limited visibility of the damage shown I'd think it's easily fixable for under what they're offering you but they have to look at percentage of damage/value.

It comes down to taking a reasonable offer less salvage and keeping a fixable vehicle or just letting it go for a few hundred more. If you can get another grand out of them I'd be surprised unless you can show actual vehicles that actually sold for more money. If it were mine I'd keep it as a second vehicle and go crazy with aftermarket parts with the extra money.

Good suggestion. I've thought about that and prob will go that route, but was really trying to get my head around a realistic figure before negotiating the salvage value. If the value could be increased, then it would be repaired under my policy without having to have a salvage title.

The ebay comp I linked to, is the vehicle that THEY used as a comp. I list it just to show how crappy that 80 was compared to mine. I only used Ebay sold listings in my comps (you can search for sold listings) as I felt that was the most credible way to show what they actually sold for, not some crazy dealer price....

craigslist in last 48hrs
https://houston.craigslist.org/cto/6155455057.html - doesnt list milage but appearance looks comparable
https://seattle.craigslist.org/est/cto/6156634838.html - exactly like mine, within 7k miles but w/o lockers for $11,995

Autotrader - $15k '96 similar miles but with salvage title
Autotrader - $8k with similar
Autotrader $10k with similar specs

 

[Arktikos]

You could take the $5K and sell it for a couple more, right? That's what I'd do.

 

[Ovrlnd Rd]

Good suggestion. I've thought about that and prob will go that route, but was really trying to get my head around a realistic figure before negotiating the salvage value. If the value could be increased, then it would be repaired under my policy without having to have a salvage title.

Keeping it from having a salvage title is one of the things you can negotiate. If it's an economic total versus a structural total they have discretion as to whether they notify the state. If something is feasibly repairable you can work that into the deal.

 

[cruiserfanc]

You could take the $5K and sell it for a couple more, right? That's what I'd do.

If I take the $5k, I am essentially "selling" it to the insurance company. I give them the title and they give me a check.

 

[cruiserfanc]

Keeping it from having a salvage title is one of the things you can negotiate. If it's an economic total versus a structural total they have discretion as to whether they notify the state. If something is feasibly repairable you can work that into the deal.

Interesting...I wasnt aware of that. That could work. I really just want it repaired. Thanks for the info

 

[tte30m3]

Being that the impact was on the front driver's side, and the front right fender is tweaked, I'm guessing the whole front has moved to the passenger side a few inches. That might be a lot more frame work than is worth it. I've driven many wrecked cars before, and they are never the same, no matter how good the body shop. It looks like a very nice 80 though, I can see why you want to keep it!

 

[MTSN]

You could take the $5K and sell it for a couple more, right? That's what I'd do.

That would be great, but that's not how it works. They cut him a check for $5k and THEY take ownership of the truck.

 

[calicamper]

I've seen much worse j80's rebuilt. But it was the owner who had lots of experience building 4x4 rigs.

 

[Peneumbra2]

Tell the insurance company to stick their offer up their wazoo. Your LC likely can be fixed; if they try to arrange a salvage title, tell them to stick that as well. These swine need to be shown that they do not run the world.

And, where will you find another LC 80 set up lil yours for $5K? You won't. And another thing: consider suing the people that ran into you. Not in small claims court, but in real court, for everything you (and your attorney) can think of.

When dealing with sheep, you have to think like a mountain lion.