Wrecked my truck! (PICS)

[Christien]

Why would the police file charges if the road conditions were that bad? If anything, the Ministry could be on the receiving end of a lawsuit if they weren't diligent in salting.

Not sure how province-run insurance works (though I'm sure it's far less of a racket than private!), but can you argue the payout? With private insurance here, it's a bargain, and the first offer is always that, an offer, though very few people realize this. If you go back to them requesting proof of valuation and provide your own appraisal, you can almost always get them to come up somewhat. I do it all the time through work. In fact, I'm waiting on an appraisal right now where the ins co offered 50% of the payout.

[911Rob]

Yes, there were NO charges; which was good.
Being a 100% gubmint operation; police, courts, insurance, the whole shabang, I've seen charges that resulted in no claim eligable. The fact that the police didn't charge Blake with anything is good.

I'm not sure if we could argue the claim? It's my first one in 33 years of driving.

[Christien]

If you've already accepted the cheque, then no, it's probably too late. If not, maybe look into it. Here's a real-life example, the customer I'm working on right now:

2004 Saturn Ion uplevel quad4, black book is about $6300, typical retail is about $10K, customer owes $13K, but our total exposure is about 9. Insurance offered $6200, refused to disclose their appraisal report (not unusual). The process is we get our own appraisal by a licensed appraiser, basically a vehicle value report for comparable vehicles with comparable options and mileage. We go back to the insurance company with that appraisal and say pay up. They'll probably counter offer, and if we eat less than $500 we'll accept, because it's cheaper/faster than lawyers. But if they won't move, we sue. We've never had to sue yet, though in some cases we've just rolled the debt over to the customer's new loan, because we thought they'd be good for it and again, it's easier/faster than lawyers.

I think you mentioned above it was a $4000 difference? In a write-off, insurance should pay replacement value less deductible, replacement meaning what it would cost you to go out and buy the exact same car today. If you owed $4K on the lease after ins payout, there might be finance charges and PST/GST (if it's a loan, not a lease) in there that your insurance doesn't cover. If it's a loan and there's PST/GST in there, I would think you'd be eligible for a refund, because insurance payouts are tax exempt (i.e. when we receive a cheque from the insurance company for a leased vehicle (no taxes paid up front) we apply the entire amount to the principal, rather than backing taxes out, because an ins payout is not a retail sale). It's a bit complicated, I know, but it might be worth your time to investigate. So long as you haven't yet accepted their offer.

[Jims5543]

Rob no offense intended here, you seem to be a baller. Big home, vacation home on a lake, pilot lessons, shopping for personal aircraft, boat and various water toys, H1 in the garage and a Porsche among other toys.

Your sweating 4K on a car loan and looking to liquidate in order to buy another truck? I do not get it. Buy another truck, get a 2-3 year old work truck and be done with it, pay cash. In this economy there or dozens of F250 and F350's for sale dirt cheap. There seems to be one for sale on every corner here.

I am not intending to call you out and point a finger, but, from one business owner to another there is no way your hurting to the point where you cannot go out tomorrow and buy a 2006 F250 cash.


The most important thing is your son is alive, by the looks of that truck he should not be. Give him a hug, and move on. I hope he learned a lesson from this.

Like I tell my son, bad things happen between 2-5 in the morning if your home in bed you will not need to learn that lesson.

[911Rob]

Hey Jim thanks, I'll do that.

I'm gonna give my son a huge hug tomorrow; I can't wait to wake up and go out and see him!

[rnln]

Rob,
Sorry to hear about the accident, but lucky they are still alive.

Originally Posted by 911Rob

Yeah, my Ford F350 has been killed.

I mostly drive the H1, but the truck comes in handy for development/building biz, I bought it on one of those silly 0% interest gigs, financed over 4 years with a small down. Never liked the payments, but it was all a write off for me anyway. Now my truck is a write off!

Left it at the showhome one weekend and my boy decided he'd take it out with some buddies instead of the beater Explorer that he drives. Friday night at 4AM he hits some black ice and takes out a telephone pole. Fortunately everyone (3) was OK and only minor cuts/bruises and my kid suffered a broken arm, no DUI either.

I can't help but love the kid and I'm certainly very thankful that he's OK, but he had no business running down the highway with my truck at that time of the night. He does use it often for running materials. He works for me supervising my construction crews.

I'm gonna sell off the H1 now and replace the truck with a cash purchase; the insurance company paid off most of the financing and the kid is paying the balance. Not a good time to be selling an H1, but also not a good time to paying truck payments and I really need a truck; often. Whatyagonnado? What would you guys do?

Here's whats left of it, it's a write off:

[pwd72s]

Originally Posted by t951

Can you get a trailer to hook up to the H1? That way you don't lose on the H1, and you dont have to spend a lot of $ for a new truck.

good thought!

[FastCarFan]

Rob,

How is your son?

[911Rob]

Hey Doug,
Kid is doing good; everyone is healed up and back at 'er.
He's been working really hard lately, so that's good.
Thanks for asking.