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Found a GVR4 on autotrader - insurance company help with value
- Thread starterLancer99
- Start date
$11,995?? /ubbthreads/images/graemlins/uhh.gif Am I missing something?
Terry Posten
Well-known member
^^^ Why?
If I put my car on a-trader, I would be several grand higher than that.
If I put my car on a-trader, I would be several grand higher than that.
People price these cars really funny. Pricing your car at 15k and then NEVER selling it doesn't bring up the values. Nobody wants these car for that kind of cash.
That car DOESN'T have 2000 miles on it. If the motor was rebuilt with 2k on that it doesn't make the whole car new. The front bumper is wavy with the slats being painted white which looks terrible. That car is worth 5k at the most and they would take that for it (they might not think they would but after a year of tire kickers and nobody wanting it they will be ready to get what its worth out of it). If they are actually holding out for that much money the car will never sell.
That car DOESN'T have 2000 miles on it. If the motor was rebuilt with 2k on that it doesn't make the whole car new. The front bumper is wavy with the slats being painted white which looks terrible. That car is worth 5k at the most and they would take that for it (they might not think they would but after a year of tire kickers and nobody wanting it they will be ready to get what its worth out of it). If they are actually holding out for that much money the car will never sell.
Last edited by a moderator:
I swear I read on here that KBB goes off prices by using Autotrader and other things to see the value of cars...I swear I read on here a while back. Anyways, if I had a free ad to put up my GVR4 for sale on AT, it'd probably be at 17k JUST to skew up the .."value" of it. lol.
I think KBB uses a % and some other formula, and doesn't matter what the 'true' market value is, with regard to rarity and such. Both import and domestic get about the same % depreciation and in some cases the import (esp. german) gets more depreciation. Least that's how it used to be. To me, KBB is pretty much useless other than how much a bank will loan you.
Terry Posten
Well-known member
I understand that KBB is for dealers and NADA is for banks.
KBB heavily favors dealer so they can show super low "trade in" values and super high "retail".
My bank only uses NADA.
But that is what my bank said.
KBB heavily favors dealer so they can show super low "trade in" values and super high "retail".
My bank only uses NADA.
But that is what my bank said.
Last edited:
Lancer99
Well-known member
We need a big movie that uses a GVR-4 as the main car and then maybe the prices could be higher.
Terry Posten
Well-known member
Great idea. Get Jacky Chan to do it. /ubbthreads/images/graemlins/grin.gif
OMFGeofffff
Well-known member
Quoting Lancer99:
We need a big movie that uses a GVR-4 as the main car and then maybe the prices could be higher.
Get Vin and Paul to star in it as well.
We need a big movie that uses a GVR-4 as the main car and then maybe the prices could be higher.
Get Vin and Paul to star in it as well.
Last edited:
Quoting Terry Posten:
I understand that KBB is for dealers and NADA is for banks.
KBB heavily favors dealer so they can show super low "trade in" values and super high "retail".
My bank only uses NADA.
But that is what my bank said.
Interesting...My credit union has and still uses KBB and finances you for 100% retail + T/L. Going to a dealer with KBB is a joke, cause they always use it for selling their stuff and then make up an excuse on to why the trade in is so low.
I understand that KBB is for dealers and NADA is for banks.
KBB heavily favors dealer so they can show super low "trade in" values and super high "retail".
My bank only uses NADA.
But that is what my bank said.
Interesting...My credit union has and still uses KBB and finances you for 100% retail + T/L. Going to a dealer with KBB is a joke, cause they always use it for selling their stuff and then make up an excuse on to why the trade in is so low.
My friend uses the Black Book when he goes to a dealer auction. You would be surprised how much the dealers get the car for. He purchased a brand new TSX for $18k. The only thing wrong with it was that the sticky sh*t from the film was all over the car.
Also, his brother passed by my house with a M3(forgot the year) he took in as a trade. The car at the dealerships would sell for $17-$18k. He took it in for $10k and was wholesaling it for $12k to another dealer.
Also, his brother passed by my house with a M3(forgot the year) he took in as a trade. The car at the dealerships would sell for $17-$18k. He took it in for $10k and was wholesaling it for $12k to another dealer.
DR1665
Well-known member
Quoting 2of9:
I swear I read on here that KBB goes off prices by using Autotrader and other things to see the value of cars...I swear I read on here a while back.
You did. My contact at KBB told me their values are primarily based on:
- sale/trade-in prices reported by dealers
- sale prices at dealer auctions (not ebay)
- prices listed on Autotrader
If you get in an accident with your GVR4, they will pull up KBB/NADA, both of which depend HEAVILY on dealer information. Mitsubishi sold 3008 GVR4s in North America, but probably 100,000 lesser trim levels. When the adjuster calls local dealerships to get a regionally accurate estimate, how many used car lot lizards are going to make the distinction between a limited edition model they've likely never seen and a piece of sh*t 89 LS with 200,000 miles, mismatched wheels, and a hallway light switch screwed into the console to manually turn on the radiator fans?
Translation: I don't care if Jesus Christ, the Prophet Muhammed, and f***ing Budha built your sh*t. Getting just $5k for it will require some next level sh*t. Let your guard down for a minute and you'll be rocking the salvage title to get that check for $2600. Been there. Done that. Did it again.
I know what you're asking yourself. What can we do about this? I'll tell you guys again.
A. List your car for sale HERE.
B. If you sell and get out of the game, do us a solid and bump the thread with the final selling price.
C. If you bought a car listed here, make that first post a good one. Bump the sale thread with the final purchase price.
Here's why this WILL work:
1. Insurance adjuster will enter your VIN into their "independent, third party" valuation system.
2. Valuation system will have no data.
3. Adjuster will call up two -RANDOM- used car dealerships in your area and ask their "professional" opinions.
4. Lot lizards will look up 1991/1992 Mitsubishi Galant w/ XXX,XXX miles on NADA and advise $800-$1500 or so.
5. Adjuster will call you up and matter-of-factly tell you your sh*t is a total loss and where can he mail the sub-$1000 check.
IT'S GO TIME.
6. You advise this valuation is likely flawed due to the limited edition of your "specialty vehicle."
7. You request a copy of their evaluation (so you can experience the rage of the 1-5 assrape detailed above).
8. You get screen prints of every GVR4 you can find on Autotrader at "any distance" (easy - there might be ONE).
9. You get screen prints of every GVR4 you can find on Craigslist in your state and any bordering state. (What? Like there will be more than six? C'mon.)
HERE'S WHERE THE MAGIC HAPPENS.
10. You pull up "Cars for Sale" right here on the board.
11. You get screen shots and compile a list of every GVR4 bought, sold, or for sale in your state and bordering states in the last 3 months.
12. Advise the adjuster his "independent, third party valuation" is based upon 0 cars bought, sold or listed for sale within your region, and is therefore little more than the "professional" opinions of a couple used car salesmen very likely to have NEVER EVEN SEEN a GVR4, given their rarity. Then you advise you have compiled a list of (10-30) GVR4s in various condition from non-running parts cars to pristine, collector-level specimens bought, sold, or listed for sale within your region within the last 3 months.
GET PAID, GENTLEMEN.
I was originally offered less than $850 for 464/1000, with it's shitty, synthetic orange peel paint job, near flawless mechanical/electrical, and spotless interior. By following the steps above, The final value of the car - WHICH WAS HEAVILY INFLUENCED BY SCREENSHOTS OF CARS FOR SALE RIGHT HERE - came in at $3800. Salvage value on the car jumped to $1200. I branded the title, and took home $2600 and change. Paid $2500 for the car.
So please, if you care about these cars and want to do something really, sincerely good for the community - either in leaving or joining - confirm the final sale/purchase prices on them. The truly independent, third party vehicle appraiser who ended up coming to see 464/1000 in person and spent an evening browsing this forum to get an idea of the actual value of these cars said he suspected the car was worth closer to $5000, but without any confirmed sales prices, he just couldn't do any better. (And he was a legitimate gearhead who does this for fun, as he's retired and road races RX7s.)
Sorry if I come across like some sort of ass, but I just watched a bunch of those "Epic Meal Time" videos on Youtube. Next time, we eat a GALANT.
I swear I read on here that KBB goes off prices by using Autotrader and other things to see the value of cars...I swear I read on here a while back.
You did. My contact at KBB told me their values are primarily based on:
- sale/trade-in prices reported by dealers
- sale prices at dealer auctions (not ebay)
- prices listed on Autotrader
If you get in an accident with your GVR4, they will pull up KBB/NADA, both of which depend HEAVILY on dealer information. Mitsubishi sold 3008 GVR4s in North America, but probably 100,000 lesser trim levels. When the adjuster calls local dealerships to get a regionally accurate estimate, how many used car lot lizards are going to make the distinction between a limited edition model they've likely never seen and a piece of sh*t 89 LS with 200,000 miles, mismatched wheels, and a hallway light switch screwed into the console to manually turn on the radiator fans?
Translation: I don't care if Jesus Christ, the Prophet Muhammed, and f***ing Budha built your sh*t. Getting just $5k for it will require some next level sh*t. Let your guard down for a minute and you'll be rocking the salvage title to get that check for $2600. Been there. Done that. Did it again.
I know what you're asking yourself. What can we do about this? I'll tell you guys again.
A. List your car for sale HERE.
B. If you sell and get out of the game, do us a solid and bump the thread with the final selling price.
C. If you bought a car listed here, make that first post a good one. Bump the sale thread with the final purchase price.
Here's why this WILL work:
1. Insurance adjuster will enter your VIN into their "independent, third party" valuation system.
2. Valuation system will have no data.
3. Adjuster will call up two -RANDOM- used car dealerships in your area and ask their "professional" opinions.
4. Lot lizards will look up 1991/1992 Mitsubishi Galant w/ XXX,XXX miles on NADA and advise $800-$1500 or so.
5. Adjuster will call you up and matter-of-factly tell you your sh*t is a total loss and where can he mail the sub-$1000 check.
IT'S GO TIME.
6. You advise this valuation is likely flawed due to the limited edition of your "specialty vehicle."
7. You request a copy of their evaluation (so you can experience the rage of the 1-5 assrape detailed above).
8. You get screen prints of every GVR4 you can find on Autotrader at "any distance" (easy - there might be ONE).
9. You get screen prints of every GVR4 you can find on Craigslist in your state and any bordering state. (What? Like there will be more than six? C'mon.)
HERE'S WHERE THE MAGIC HAPPENS.
10. You pull up "Cars for Sale" right here on the board.
11. You get screen shots and compile a list of every GVR4 bought, sold, or for sale in your state and bordering states in the last 3 months.
12. Advise the adjuster his "independent, third party valuation" is based upon 0 cars bought, sold or listed for sale within your region, and is therefore little more than the "professional" opinions of a couple used car salesmen very likely to have NEVER EVEN SEEN a GVR4, given their rarity. Then you advise you have compiled a list of (10-30) GVR4s in various condition from non-running parts cars to pristine, collector-level specimens bought, sold, or listed for sale within your region within the last 3 months.
GET PAID, GENTLEMEN.
I was originally offered less than $850 for 464/1000, with it's shitty, synthetic orange peel paint job, near flawless mechanical/electrical, and spotless interior. By following the steps above, The final value of the car - WHICH WAS HEAVILY INFLUENCED BY SCREENSHOTS OF CARS FOR SALE RIGHT HERE - came in at $3800. Salvage value on the car jumped to $1200. I branded the title, and took home $2600 and change. Paid $2500 for the car.
So please, if you care about these cars and want to do something really, sincerely good for the community - either in leaving or joining - confirm the final sale/purchase prices on them. The truly independent, third party vehicle appraiser who ended up coming to see 464/1000 in person and spent an evening browsing this forum to get an idea of the actual value of these cars said he suspected the car was worth closer to $5000, but without any confirmed sales prices, he just couldn't do any better. (And he was a legitimate gearhead who does this for fun, as he's retired and road races RX7s.)
Sorry if I come across like some sort of ass, but I just watched a bunch of those "Epic Meal Time" videos on Youtube. Next time, we eat a GALANT.
CutlassJim
Well-known member
Quoting Gabor:
Recently I worked a few days at a Manheim auto auction and in the vending machines they had Nada books but no KBB books. /ubbthreads/images/graemlins/dunno.gif
Kelley Blue Book books? Is that like a VIN number? /ubbthreads/images/graemlins/grin.gif
Recently I worked a few days at a Manheim auto auction and in the vending machines they had Nada books but no KBB books. /ubbthreads/images/graemlins/dunno.gif
Kelley Blue Book books? Is that like a VIN number? /ubbthreads/images/graemlins/grin.gif
Quoting DR1665:
You did. My contact at KBB told me their values are primarily based on:
- sale/trade-in prices reported by dealers
- sale prices at dealer auctions (not ebay)
- prices listed on Autotrader
If you get in an accident with your GVR4, they will pull up KBB/NADA, both of which depend HEAVILY on dealer information. Mitsubishi sold 3008 GVR4s in North America, but probably 100,000 lesser trim levels. When the adjuster calls local dealerships to get a regionally accurate estimate, how many used car lot lizards are going to make the distinction between a limited edition model they've likely never seen and a piece of sh*t 89 LS with 200,000 miles, mismatched wheels, and a hallway light switch screwed into the console to manually turn on the radiator fans?
Translation: I don't care if Jesus Christ, the Prophet Muhammed, and f***ing Budha built your sh*t. Getting just $5k for it will require some next level sh*t. Let your guard down for a minute and you'll be rocking the salvage title to get that check for $2600. Been there. Done that. Did it again.
I know what you're asking yourself. What can we do about this? I'll tell you guys again.
A. List your car for sale HERE.
B. If you sell and get out of the game, do us a solid and bump the thread with the final selling price.
C. If you bought a car listed here, make that first post a good one. Bump the sale thread with the final purchase price.
Here's why this WILL work:
1. Insurance adjuster will enter your VIN into their "independent, third party" valuation system.
2. Valuation system will have no data.
3. Adjuster will call up two -RANDOM- used car dealerships in your area and ask their "professional" opinions.
4. Lot lizards will look up 1991/1992 Mitsubishi Galant w/ XXX,XXX miles on NADA and advise $800-$1500 or so.
5. Adjuster will call you up and matter-of-factly tell you your sh*t is a total loss and where can he mail the sub-$1000 check.
IT'S GO TIME.
6. You advise this valuation is likely flawed due to the limited edition of your "specialty vehicle."
7. You request a copy of their evaluation (so you can experience the rage of the 1-5 assrape detailed above).
8. You get screen prints of every GVR4 you can find on Autotrader at "any distance" (easy - there might be ONE).
9. You get screen prints of every GVR4 you can find on Craigslist in your state and any bordering state. (What? Like there will be more than six? C'mon.)
HERE'S WHERE THE MAGIC HAPPENS.
10. You pull up "Cars for Sale" right here on the board.
11. You get screen shots and compile a list of every GVR4 bought, sold, or for sale in your state and bordering states in the last 3 months.
12. Advise the adjuster his "independent, third party valuation" is based upon 0 cars bought, sold or listed for sale within your region, and is therefore little more than the "professional" opinions of a couple used car salesmen very likely to have NEVER EVEN SEEN a GVR4, given their rarity. Then you advise you have compiled a list of (10-30) GVR4s in various condition from non-running parts cars to pristine, collector-level specimens bought, sold, or listed for sale within your region within the last 3 months.
GET PAID, GENTLEMEN.
I was originally offered less than $850 for 464/1000, with it's shitty, synthetic orange peel paint job, near flawless mechanical/electrical, and spotless interior. By following the steps above, The final value of the car - WHICH WAS HEAVILY INFLUENCED BY SCREENSHOTS OF CARS FOR SALE RIGHT HERE - came in at $3800. Salvage value on the car jumped to $1200. I branded the title, and took home $2600 and change. Paid $2500 for the car.
So please, if you care about these cars and want to do something really, sincerely good for the community - either in leaving or joining - confirm the final sale/purchase prices on them. The truly independent, third party vehicle appraiser who ended up coming to see 464/1000 in person and spent an evening browsing this forum to get an idea of the actual value of these cars said he suspected the car was worth closer to $5000, but without any confirmed sales prices, he just couldn't do any better. (And he was a legitimate gearhead who does this for fun, as he's retired and road races RX7s.)
Sorry if I come across like some sort of ass, but I just watched a bunch of those "Epic Meal Time" videos on Youtube. Next time, we eat a GALANT.
Outstanding information in this post!
This should be a sticky on how to deal with insurance with these cars.
You did. My contact at KBB told me their values are primarily based on:
- sale/trade-in prices reported by dealers
- sale prices at dealer auctions (not ebay)
- prices listed on Autotrader
If you get in an accident with your GVR4, they will pull up KBB/NADA, both of which depend HEAVILY on dealer information. Mitsubishi sold 3008 GVR4s in North America, but probably 100,000 lesser trim levels. When the adjuster calls local dealerships to get a regionally accurate estimate, how many used car lot lizards are going to make the distinction between a limited edition model they've likely never seen and a piece of sh*t 89 LS with 200,000 miles, mismatched wheels, and a hallway light switch screwed into the console to manually turn on the radiator fans?
Translation: I don't care if Jesus Christ, the Prophet Muhammed, and f***ing Budha built your sh*t. Getting just $5k for it will require some next level sh*t. Let your guard down for a minute and you'll be rocking the salvage title to get that check for $2600. Been there. Done that. Did it again.
I know what you're asking yourself. What can we do about this? I'll tell you guys again.
A. List your car for sale HERE.
B. If you sell and get out of the game, do us a solid and bump the thread with the final selling price.
C. If you bought a car listed here, make that first post a good one. Bump the sale thread with the final purchase price.
Here's why this WILL work:
1. Insurance adjuster will enter your VIN into their "independent, third party" valuation system.
2. Valuation system will have no data.
3. Adjuster will call up two -RANDOM- used car dealerships in your area and ask their "professional" opinions.
4. Lot lizards will look up 1991/1992 Mitsubishi Galant w/ XXX,XXX miles on NADA and advise $800-$1500 or so.
5. Adjuster will call you up and matter-of-factly tell you your sh*t is a total loss and where can he mail the sub-$1000 check.
IT'S GO TIME.
6. You advise this valuation is likely flawed due to the limited edition of your "specialty vehicle."
7. You request a copy of their evaluation (so you can experience the rage of the 1-5 assrape detailed above).
8. You get screen prints of every GVR4 you can find on Autotrader at "any distance" (easy - there might be ONE).
9. You get screen prints of every GVR4 you can find on Craigslist in your state and any bordering state. (What? Like there will be more than six? C'mon.)
HERE'S WHERE THE MAGIC HAPPENS.
10. You pull up "Cars for Sale" right here on the board.
11. You get screen shots and compile a list of every GVR4 bought, sold, or for sale in your state and bordering states in the last 3 months.
12. Advise the adjuster his "independent, third party valuation" is based upon 0 cars bought, sold or listed for sale within your region, and is therefore little more than the "professional" opinions of a couple used car salesmen very likely to have NEVER EVEN SEEN a GVR4, given their rarity. Then you advise you have compiled a list of (10-30) GVR4s in various condition from non-running parts cars to pristine, collector-level specimens bought, sold, or listed for sale within your region within the last 3 months.
GET PAID, GENTLEMEN.
I was originally offered less than $850 for 464/1000, with it's shitty, synthetic orange peel paint job, near flawless mechanical/electrical, and spotless interior. By following the steps above, The final value of the car - WHICH WAS HEAVILY INFLUENCED BY SCREENSHOTS OF CARS FOR SALE RIGHT HERE - came in at $3800. Salvage value on the car jumped to $1200. I branded the title, and took home $2600 and change. Paid $2500 for the car.
So please, if you care about these cars and want to do something really, sincerely good for the community - either in leaving or joining - confirm the final sale/purchase prices on them. The truly independent, third party vehicle appraiser who ended up coming to see 464/1000 in person and spent an evening browsing this forum to get an idea of the actual value of these cars said he suspected the car was worth closer to $5000, but without any confirmed sales prices, he just couldn't do any better. (And he was a legitimate gearhead who does this for fun, as he's retired and road races RX7s.)
Sorry if I come across like some sort of ass, but I just watched a bunch of those "Epic Meal Time" videos on Youtube. Next time, we eat a GALANT.
Outstanding information in this post!
This should be a sticky on how to deal with insurance with these cars.
Last edited by a moderator:
DR1665 makes very valid points........
The only 'other' advice I can offer is to NEVER take a check for the initial amount your insurance company offers for ANYTHING!!!!!
Meaning say you have full coverage and someone does a hit and run on your parked vehicle. You have your adjuster come out and take a look. Most insurance company adjusters can cut you a check right then and there. Don't take it. It will be a low ball offer and when you sign for the check there's no do-overs. Tell him he's off on his price. He'll more than likely immediately make a higher offer; or go 'back to his office' and make the same higher offer later.
Same with a totalled vehicle.
Never take the first offer.......................
The only 'other' advice I can offer is to NEVER take a check for the initial amount your insurance company offers for ANYTHING!!!!!
Meaning say you have full coverage and someone does a hit and run on your parked vehicle. You have your adjuster come out and take a look. Most insurance company adjusters can cut you a check right then and there. Don't take it. It will be a low ball offer and when you sign for the check there's no do-overs. Tell him he's off on his price. He'll more than likely immediately make a higher offer; or go 'back to his office' and make the same higher offer later.
Same with a totalled vehicle.
Never take the first offer.......................
turbophein
Well-known member
this is awesome, i am dealing with the insurance right now, the car is going in on wed for its appraisal, it needs to go on a lift to check for underbody damage after going into the ditch. i actually added up a bunch of minor things that happened that i think will add up to over $1200-$1300 we'll see how they handle this...
