Expert: Bennie719 - 7/13/2009

Question
My daughter was in a collision on June 18th.  It was determined to be the other drivers fault.  The other person has AllState insurance and we have progressive.  AllState only wants to pay us $522.32 for my car.  It was a 1993 plymouth Laser 100,000 miles.  The car ran perfect the paint, is rough, it was scheduled to be painted the following day.  I already had the paint.......  what can I do about the price they offered.   Blue book was over $2000

Answer
Hi Kathy,

You must have secured the $2,000 from the dealer retail portion
of Blue book.  That figure is based on a vehicle that is totally
perfect in all areas and has been refurbished and detailed.  Even
then, less than 5% of used cars sell for full retail high blue book
and those are cars that are in very high demand and very low supply,
then the dealer can get top value from a person who is desperately
seeking that particular model.

You gave me minimal information about the car and no information
about where you live.  Prices vary in different parts of the country.

I did a kelly blue book research for "Private Party Sales" values
for the bottom of the line 2 dr cpe with only the basic standard
factory equipment based on kbb definition of FAIR condition.

For the western states region the rock-bottom low value is $1,125.

For the eastern and southeastern states, the rock-bottom low value
is $975.

I don't know anyone in the central states so I don't have a zip
code to check that area.

Of course, if your car is a better model with additional added
equipment it will have a higher value.

Run a new kbb.com check based on your zip code and the exact
vehicle and equipment under the private party sales and use the
FAIR condition.

Any insurance would try to settle your claim for the very lowest
amount possible and Allstate has a reputation of low offers.

You are owed the Fair Market Value (FMV) of your car.  To combat
the low offer by Allstate and be able to negotiate for a higher
amount you will have to research and find at least five vehicles
that are basically identical to yours with the same equipment,
mileage and condition.
Used car dealers normally do not carry in stock a car in this
condition, but you may be able to get one or more dealers to
write you a statement of what would be their lowest selling
price if they had such a vehicle.  Then you can research and
clip out newspaper ads and go on line to sites such as
craigslist.com    and find similar cars.  The kbb.com print out
will count as one, you need to find four more and then you will
have enough documentation to negotiate with Allstate for your
cars FMV.

I hope that you find this information to be helpful.  Your feedback
by rating my response will be appreciated.

Bennie
San Francisco Bay Area