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525it declared a total loss

Discussion in 'E39 (1997-2003)' started by stuts, Jan 3, 2019.

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    Shit- Some SOB pulled out of a parallel parking space as I drove by and he clipped the RR door and RR quarter panel of my mint condition 2002 wagon. Damage is only exterior sheet metal (no structural stuff) but insurance is probably going to total it. It has 205,000 miles on it with a remanufactured trans put in about 10,000 miles ago. What do I do? Book value is around $5k, repairs about the same. Fix it and try to sell it with a bad car-fax, take the money and junk it, take the money and buy it back as a salvage title? We have talked about getting a new[er] car for a while so is now the time? Car payments I don't need now since I just lost my house in the fires last month. Any suggestions from anyone?
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    I don't know if insurance laws in California would prohibit it, but is there an option for the insurance company to reimburse you based on an estimate? I haven't had too many claims issues, but in Ohio here in the past, after having a claims adjuster estimate damage, the insurance company just sent a check, & it's left up to the claimant to manage the repair process (not that that's recommended - the downside is if repairs cost more than what's estimated, you're outta pocket - good luck getting any more $$$ from the ins. co.). If money's tight and the car's safe to drive (as in the suspension didn't take a hit, or the body enough to throw out the suspension), if you could get some cash and do a minimal fix and drive it until you get ahead of everything else, then sell it as-is later, or as a trade-in... or more extensive repairs. With a $5k book value, agreed, likely insurance co. will total it. Only you can answer if now's the time to take on a car payment, but doesn't sound like it with the house loss. Sorry about your car though, and very sorry to hear you lost your house also!

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