Blue Book Value Of Used Cars

Q.Which blue book value should the insurance company be using when a car is totaled out for insurance purposes - private-sales, or retail-sales?

A.Often, they will use a service which shops used cars for sale and recently sold at dealers. "Comparable" cars to the total loss vehicle will be found and adjustments to the price made for odometer mileage and cosmetic condition. Tax and pro-rated license expense should be added to get a settlement offer. That is supposed to give an amount that the insurance company believes it will cost to replace the vehicle. Where disagreements are most likely to happen: a. Total loss vehicle has good mechanicals, but high odometer mileage and so-so cosmetic condition. b. Vehicle is rare, and common varieties are used as comparables, with the adjustment for the rare type being in disagreement. c. Insurance adjuster's assessment of condition does not match the owner's assessment of condition.

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