Insurance company offered me 11,200 for a 2005 LGT w 75,000 miles

Totalled

 

Automatic trans, all the options, good but not great condition (dings).

 

This feels really low to me, given the mileage. Ive seen people asking 9-10k for LGTs with almost double that mileage. Can I realistically negotiate to a higher amount? Any ideas or advices?

 

Thanks!

 

Mods feel free to move if this is not the right place

You are free to negotiate as much as you like. Get prices of other similar cars for sale in the area with the same mileage.

That's what it's worth give or take $500-1500 for condition.

That's what it's worth give or take $500-1500 for condition.

 

I sold my '05 LGT 5eat wagon (~70k miles) here in NOVA earlier this year in a private sale for $11,300. Stage 2, roof rack, very clean interior / exterior, all service records.

 

I think the insurance offer is actually very fair. If that's their starting point I'm sure you can negotiate up a bit, but I'd be fairly happy with that.

 

Thanks for the reality check guys. I'll see what I can get out of em

Seems like a pretty decent offer. I paid $11,700 for a standard LGT 5 speed from a private party in May 2012. I would try and up them a bit more if you could. Put osme research together to make a case with KBB, autotrader ads, etc so you can justify getting more. Also, if I remember correctly, they should be paying you $11,200 PLUS tax so you should get around $12k total...negotiating a bit more for your car will net you even more so try it.

That sounds pretty reasonable although I haven't checked kelley blue book.

I bought my 2005 LGT with 5EAT and 69k miles for $12700 back in February 2009.

 

I did get mine below blue book at the time though..

Seems pretty fair. Mine's waaaaay outside the bell curve but I paid $4k at auction for my 05 LGT 5MT with 109k.

 

People can ask all the want. Doesn't mean they'll get it. I see $25k 04 STi's on CL all the time. Doesn't mean anyone's gonna pay that.

Take the offer and run.

Run before that drop the price

Take it!

NADA shows limited sedan as $11,375 Limited Wagon's $11,950.

 

Have you recently replaced the tires? Many Insurance Co. will reimbursed if you have the receipt.

damn i was offerd 14k for mine but i have 58k miles .. alot of stuff done ... but that was a private sale so .. think book on my 05 lgt is 10,800

but mines not a limited so

Factor-in any long-term improvements that have been made to the car, i.e, new short block, replaced/rebuilt transmission, new fuel system, tires/wheels, etc.. Also, factor-in how much fuel is in the car, how much of the registration is left on the vehicle and the tax that you lose in value. Little things add-up. Also, make sure they account for any option upgrades. And hit them with both NADA and KBB pricing which is artificially inflated, but bumps the price your direction. If a wagon, look for $500-$1000 more.

Try to find a 75k mile 05-06 LGT wagon in this area for 11k. Good luck. More like 16k here.

 

EDIT: just noticed my location doesn't show under my user name.

 

Seattle area.

Well that is subie territory. I'm moving out to WA next year and expect my resale value to go up because of it hehe.

 

OP that does seem like a fair deal. To negotiate you'd want to go at them with NADA/KBB/Edmunds valuations along with some that are for sale. But around here anyway that's an excellent offer.

My first legacy was an 05 gt limited 5 spd and was considered total loss when an elderly woman pulled out in front of me. The car had approx 170k on it.. they offered me $11,500....

 

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Sounds correct to me. Sorry for your loss.

Take their money and turn around and buy it back and part it out. Unless you completely destroyed every single part on it, I would bet you could probably get it back for less than $1K and turn that into double at least, if most of the parts are still good. I haven't seen it, but I know a LOT of people that do that kind of stuff.

 

Buddy of mine had 08 Mustang GT and he got T-boned. Because it bent the unibody subframe in the middle, they totaled it out for him. It had the SC engine and Tremec in it along with LS RD and even all of the wheels were still good on it. It even still drove but it was too bent to straighten. He bought it for $1350 and turned it into about $4K and got paid what it was worth from the insurance company to boot, so he came out way ahead.