Thursday, January 12, 2012

A friend totaled a car (bought new). What value should he get?

A friend totaled his 2007 honda CR-V-bought for around 25K. The dealer is offering 16K. KBB and Edmunds list the used car value as 20K. Should he accept 4K less? What should he do?A friend totaled a car (bought new). What value should he get?
Address the specifics to the dealer. Why is the dealer and not the insurance agent involved. Hopefully, he/she has Gap insurance. With the ever widening gap between financed value and off the floor value, gap insurance on new cars is almost a prerequisite these days.
  • vance and hines
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