Another one bites the dust

[jhg1232]

as someone who lives in miami, that picture makes me LOL. people in this city cant drive for shit. dude probably was hooning it around town thinking he was a pro driver

Sponsored

 

[GSquared]

as someone who lives in miami, that picture makes me LOL. people in this city cant drive for shit. dude probably was hooning it around town thinking he was a pro driver

Exactly. Driving down here is like driving an obstacle course with all the crazy drivers on the road that just don't care one bit about you or your car.

 

[Night Fury]

In Miami, FL

Sad to see it, hopefully was not stupidity to continue from the owner and all people involved are safe.

 

[Chee_hu]

More spare parts!!!

 

[IamMrRoy]

That is someone's baby there. And I hope all involved are o.k.

 

[98-0425]

I'll buy it for $10k

 

[UnknownCTR]

I wonder how many airbags deployed

 

[Billy4202]

Not surprised in Miami.

Like Mad Max driving down there...

sad to see another one go tho

 

[erbee]

Great! Another 10K mark-up car died.

 

[heavyD]

It happens. Within a few weeks of the Focus RS release there was that video of someone going around a corner drifting right into the side of a hill.

 

[heavyD]

Great! Another 10K mark-up car died.

How would that work if you write it off and paid say $10k ADM. We don't have ADM in Canada so I'm wondering how insurance companies would handle that as they may want to replace the car at its MSRP value or do you have to go out of your way to ensure the car to the value you paid for it? That seems like a bad deal for insurance.

 

[OldPirate]

It's called SOL on that ADM

 

[erbee]

How would that work if you write it off and paid say $10k ADM. We don't have ADM in Canada so I'm wondering how insurance companies would handle that as they may want to replace the car at its MSRP value or do you have to go out of your way to ensure the car to the value you paid for it? That seems like a bad deal for insurance.

Don't know for sure. Most insure goes by market value, this is a used car and not a classic. MSRP the most i think. Plus wheel locks.

 

[erbee]

It's probably one of our forum member's car they just don't want to admit it .

 

[zroger73]

How would that work if you write it off and paid say $10k ADM. We don't have ADM in Canada so I'm wondering how insurance companies would handle that as they may want to replace the car at its MSRP value or do you have to go out of your way to ensure the car to the value you paid for it? That seems like a bad deal for insurance.

Insurance companies pay "actual cash value" which will almost always be less than invoice price on a brand new vehicle.

GAP insurance pays the difference between the actual cash value (as determined by the insurance company) and the loan balance. If you somehow managed to finance $70K on a $35K car (MSRP + ADM + negative equity on trade) and totaled the car before your first payment, GAP insurance would pay of off the loan, but that GAP policy would be very expensive. The cost of GAP insurance increases exponentially as the difference between loan amount and cash value increases.

The insurance company(s) don't care about MSRP or ADM when determining the actual cash value.

If a person pays $45K for a Type R and manages to finance 100% of that amount and immediately totals the car, the insurance company will pay $30K with the buyer being responsible for the additional $15K unless they gave GAP insurance.

If a person pays $45K for a Type R and pays $15K down and finances $30K and immediately totals the car, the insurance company will pay $30K and the buyer loses their $15K.

Sponsored