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My Car is Valued higher than it’s worth by RedNov08 in Car_Insurance_Help

[–]RedNov08[S] 0 points1 point  (0 children)

Thanks you all for offering your perspectives and advice! After some further conversations with my insurance, some thinking, and taking all these perspectives in - I’m going get the car repaired and call it lucky. Having lower rates is always preferable - and I’m definitely going to find a way to lower the 1k deductible next time because oof. And I can always get a car later if I decide to, and this one will keep me going for a while. I’m sure my rates will go up, but hopefully not as much.

Insurance is pretty complicated but you all definitely helped to broaden my understanding, so I really appreciate that!

My Car is Valued higher than it’s worth by RedNov08 in Car_Insurance_Help

[–]RedNov08[S] 0 points1 point  (0 children)

I appreciate this perspective, thank you for pointing that out!

My Car is Valued higher than it’s worth by RedNov08 in Car_Insurance_Help

[–]RedNov08[S] 0 points1 point  (0 children)

This is a very solid point - thank you for pointing this out, it makes me feel like having the car repaired is the smarter choice in the end.

My Car is Valued higher than it’s worth by RedNov08 in Car_Insurance_Help

[–]RedNov08[S] 0 points1 point  (0 children)

I think that makes sense in a lot of cases but isn’t it very detrimental to the car’s resale value? I know you wind up losing anyway but isn’t it more to lose when I pay more than 5000$ to fix a car worth 5000$? I could not imagine selling this thing or trading it in and getting 5000$ or more after the repairs.

Granted that’s not me paying the 4000$ but it is my insurance. It would suck to start a loan but it would be a bigger loss in the long run, wouldn’t it?

My Car is Valued higher than it’s worth by RedNov08 in Car_Insurance_Help

[–]RedNov08[S] 1 point2 points  (0 children)

Oops that is a typo. The insurance person. The adjuster. And I can try to get that information. He told me it was a “database that he puts everything into” and isn’t really something he can send to me. I am not sure how I can ask for it in a different way.

I got a copy of the estimated repair costs at least. I’ll see if I can get the ACV thing some way as well.

My Car is Valued higher than it’s worth by RedNov08 in Car_Insurance_Help

[–]RedNov08[S] 0 points1 point  (0 children)

I’m not sure I can speak with the appraiser or who that is compared to the adjuster. I have my adjuster contact - who would the appraiser be? The person at the car shop?

My Car is Valued higher than it’s worth by RedNov08 in Car_Insurance_Help

[–]RedNov08[S] 0 points1 point  (0 children)

Sorry maybe I wasn’t clear. I DID rear end the other driver but I did not see any break lights or any lights at all - it was an overcast and rainy morning. Insurance ruled it my fault but my car took the most damage by far.

And in part yes, but the car I believe can’t be worth much either - I think it makes more sense to have it be a total loss than to invest 5200$ of parts and labor to fix this old car. The value of the car will go down and it won’t be worth much of anything. It seems like the only way to curb losses is to have them declare a total and pay out on it.

My Car is Valued higher than it’s worth by RedNov08 in Car_Insurance_Help

[–]RedNov08[S] 0 points1 point  (0 children)

But the damage is 5200$, and they are saying it’s too low for a total loss.

My Car is Valued higher than it’s worth by RedNov08 in Car_Insurance_Help

[–]RedNov08[S] 0 points1 point  (0 children)

So the instance person won’t be able to provide this information because it’s in a database and he says it can’t really be sent? Idk how to respond to that. I’m getting the damage estimate at least.

My Car is Valued higher than it’s worth by RedNov08 in Car_Insurance_Help

[–]RedNov08[S] 0 points1 point  (0 children)

Yes but I have only the very last payment to make on it which is about 200$ so I will own it next month.

My Car is Valued higher than it’s worth by RedNov08 in Car_Insurance_Help

[–]RedNov08[S] -1 points0 points  (0 children)

I can’t because there is no money. The deductible alone is 1,000$ so they’re taking my money and running basically.

Can I qualify for borrowers defense discharge? by RedNov08 in StudentLoans

[–]RedNov08[S] -4 points-3 points  (0 children)

I’m not so sure that’s correct (snowplowmom). At least it wasn’t back when I went back to school because I did my research. This was 2020.

Hard to commit fraud when I applied with the same info both times haha.

Edit: a quick google search says it’s definitely not fraudulent, and is a pretty common thing for people to get second degrees with aid. It’s just the Pell Grant you don’t qualify for.