Insurance decision

[charissemp]

My husband recently had hail damage to his "commuter car." We use our Honda Odyssey for nearly everything else.
\We don't owe anything on the car. Here is our decision:

After the storm, I looked at the car and said, “Wow, I can’t believe it looks fine.” He told me to look closer. Upon further examination, I could see a few minor hail dents that weren’t really visible unless I bent down to their level. So, not a big deal……or so I thought.

Agent just called, and they totaled the car. I can’t believe it. Minor cosmetic damage that I barely can see.

Options: (1) We give them the car and they give us a check for $7,800. It’s a 2005 Ford Focus with 80,000 miles. We’ve never had a single repair. It’s getting close to needing new tires.
(2) We keep the car and they give us a check for $4,500. No salvage title is required b/c it was hail damage and car is less than 7 years old.
(3) We make no claim. This is stupid, though, b/c it’s a no fault claim. We already don’t have a claim free discount b/c of deer.

So, I think we should keep the car and take the $4500. First, though, I want our mechanic to do a full evaluation and make sure it’s in as good of shape as I think it is.
Do you think this is what you would do?

 

[Disneyliscious]

Fords are good cars. I'd take option 2 in a heartbeat.

 

[tlbwriter]

I'd do (1) if you wanted to replace the car anyway, and (2) if you were happy with the car and wanted to keep it.

 

[daughtersrus]

We're a family with a '02 Focus (bought new with over 100,000 miles on it) and a '05 Focus (bought used for DD for about $7,500 with 50,000 and 3 years later has almost 75,000 ). If it were me, I would pick option 2. I'd bank the one to use towards a car when this car needs repairs or to be replaced.

If you take option #1, it's not going to be enough to buy a new car. We've just started looking for a 3rd Focus (used) for DD#2. The cost of everything that we've seen is around $7,500 for a used one in the 50,000 mile range. A new one is going to cost you much more and if you buy used, it may end up needing repairs.

Edited to add...DH is a tech for a Lincoln dealership so we're a Ford family.

 

[SYDCOLEMOM]

Option #1 for sure. You will never get that amount when you trade the car in or sell it out right. It is worth more now to you as option #1 than it will ever be. Thats a nice chunk to put down on a newer vehicle with less miles.

 

[seashoreCM]

Hail damage did not degrade the mechanical parts by any additional amount.

If you are daring you might try option 1 and then see if you can buy the car back at auction for less. It would have to be substantially less since you need to re-register it. It would also have to be a situation where the car wasn't shipped far away to be auctioned off.

Otherwise I would go with option 2 and just keep using the car. No hassles, no need to spend time shopping for a car. KISS.

 

[pyrxtc]

option 2 and save the check for when you need another car or take a nice vacation to Disney.

 

[SUSIEQ]

OP, who is your insurance company? It sounds like they are looking out for you.

 

[a1tinkfans]

a 2005 ford focus with 80000 miles and the insurance carrier is offering you 7800? A 6 year old car....

Uh, thats a lot of money for that car, ....with dings you could not see with your own eyes???

Who is the carrier OP?

 

[charissemp]

Insurance Company is ANPAC--- American National Property and Casualty Company....I've got nothing but good things to say about the way they've treated us over the last 12 years.

 

[charissemp]

Thanks everyone! We're still considering both options.......I really appreciate everyone's input! And I am very happy with ANPAC. They've always been very quick and very fair when we've had things come up.

 

[DVC-Don]

I'd take option 2.

I would not take option 1 and try to buy it at auction as many times these cars are just parted out and not sold whole.