Two and a half hours sitting at Progressive’s car center to get a report back that my car is considered a “total loss” now :( Apparently the damaged caused in our recent accident (which I was not considered at fault in, btw) exceeds the total worth of the precious sexy car. Meaning it’s not as simple any more of taking a check or getting it fixed :(
So that’s the bad news out of all this. The GOOD news, of course, is that they’re going to compensate me for the whole thing once I make up my mind which of the two routes I want to take. And at the moment, I’m at a total loss (no pun intended).
Here are my two options:
- Take a check for $2,100 and be on my merry way. I can choose to use the money to pay for most of the damages (the total damage came out to $2,500 per their estimates), or I can pocket it and see how long I can get away with driving it a little busted up.
- Take a check for $3,500 and leave my car with them. Their fancy system thinks it’s worth about $3,500 by the time the car and taxes and everything comes into play (more than the $2k KBB shows for it), so they’re pretty much offering to buy it from me outright and be done with it.
Now. Half of you probably think my poor sweet car is a pile of junk, and thus would take the $3,500 and get the hell out of there, but to ME, she’s a beauty :) I take her out for a spin blaring some hip-hop and all kinds of players and pimps give me head nods while the ladies start throwing their panties my way, haha… Well maybe not the latter, but most definitely the former. It’s the perfect ride for a blogger who just wants to feel good in his car and get excited every time he turns that key. Even if it’s a little ghetto and/or grandpa like (funny how both connotations can come with the same car too).
So that’s where I’m currently left with right now until I let them know how I’d like to proceed. I want to get y’alls opinions here in a bit, but before I do let me just brain dump all the pros and cons I can think of for each scenario first to give you a better picture of where my mind is at. I wish it was just a simple cut and dry choice!
Option #1: Taking the money and running.
- I get to keep enjoying my car!
- I get over two thousand dollars to do with as I please!
- My car still drives/looks fine albeit w/ a few minor dings.
- On the other hand, my car will now be reported as a “total loss” on the record :(
- Meaning it’ll be much harder to sell or trade in down the road…
- And I’m not even sure it’ll pass a safety inspection when we have to get the next one done.
- Or that the $2,100 would even cover all the needed fixes in that case?
- Which also means the $2,100 isn’t to “do with what I please” anymore :(
- And lastly, who knows when my car will eventually die out anyways? It’s over 20 years old!
Option #2: Selling my car to them
- I get a check for $3,500!!! Way more than I would if I sold it (by $1,500, probably)
- I don’t have to worry about any car inspections or selling it later.
- Or it breaking down when least expected… especially if Baby Money was with me.
- But then I have no car :( Which, may be fine once we’re settled into our new home since most things will be walkable, but it’s still scary to be car-less when you’ve owned one your entire life.
- I also don’t know how the hell I’m going to find a replaceable car that I like so much??
- And on the CHEAP for that matter? I paid $3,100 for this caddy almost exactly 5 years ago (on credit card, if you recall;)) and have been living car payment-less ever since.
- I’m also don’t even want to THINK about car shopping anytime soon while we’re moving… too many things to do all at the same time :( And it takes me forever to finally choose a car anyways.
Lots and lots to think about over here… Now on the plus side, our statute of limitations in Maryland gives us a few years to accept a claim so I def. have enough time to think on it, haha… Not that I’d ever want to wait that long of course. But at least I don’t have to decide over night. Or when the Progessive guy asked if I wanted to leave my car there right on the spot – I was like whaaaa?? How would I get home?? :)
It’s funny. You get in a car accident that isn’t your fault, but none of the options to resolve the situation seem to make the most sense. I can’t even choose “just fix it back up to normal, please” – ya know? I either have to PAY money to get it back to snuff (and I’m sure the “total loss” is still on the record either way), or I give up the car completely and start all over again. Doesn’t seem real fair to be honest with you, even though I can understand the reasoning behind it by insurance companies (hard to justify putting more into a car than it’s worth – even though it’s not their car!!
But such is life, I suppose. We gotta do our best to roll with the punches… Now to just figure out which option to choose though! Again, at a total loss here as to which is better than the other. I feel like Option #1 is best for the short term, but Option #2 is best for the long term. And I’m not quite ready to depart with my poor baby yet at least until after the move, so who knows…
Which option would YOU take? After reading all my thoughts on each? (Which you have to do for me so you can better understand my dilemma here. If you don’t you’re liable to choose based on your personal taste of cars! :)) Pretend this is YOUR car that you love and enjoy dearly, and then you’re hit with these choices. After getting hit in a crash too, mind you.
HELP! I CAN’T MAKE UP MY MIND!!
UPDATE: I’ve made up my mind :)
Jay loves talking about money, collecting coins, blasting hip-hop, and hanging out with his three beautiful boys. You can check out all of his online projects at jmoney.biz. Thanks for reading the blog!