Well, I didn't want to say anything originally, however, now I feel I must.

On the 12th of this month I was involved in what I thought was a simple accident on the freeway coming home. Rain/heat/and plain exhaustion all combined to make me a very tired person while driving home on the freeway. As rush hour traffic started I began to drose at the wheel, just for a few seconds at a time. Well, the woman in the car ahead of me stopped, I failed to break in time. I rear-ended her. This caused my front bumber to pop off(leaving the right side hanging), my air bags deployed. As I sat there in the rain looking at what had become of my car, I figured this what repairable.

Well, today I found out it is not...at least not according to my insurance company. It has been deemed a Total Loss. This, to me, is rather devistating. I make no where near the amount of money to be able to pay off the loan right away if the insurance company doesn't value the car high enough. My only hope is that "fair market value" works in my favor.

On the good side to this, if everything works out decently, I may walk away from this with a GT versus having a V6... It just depends on too many variables right now.
I will try and keep you guys posted as to what happens, and fear not, I will not abandon this site because I don't have my Stang right now.

 

Man, for a second there I thought you were going to say you killed someone.
Thats to bad about the stang though, hopefully you'll get a v8.

 

Me, too. It could have been a lot worse.

This happened for a reason. You were destined to have a GT.

 

the insurance company will screw you if you let em. you tell them you want what the car is worth, and not the lowball offer they give you. a little bit of arguing and youll get it.

 

Yes I thought the lady was going to end up dying later on...a lady did die though and you did kill her...RIP to your Mustang...MUSTANG KILLER!!

 

Hey, V6's have feelings too

 

I would never talk down on a V6, because i can just about imagine how the guys with the Cobras talk about the GT's.

 

Of course not, i dont think anyone on this board 'is hatin' on sixers.
Of course our cars are slower, thats how they were made. But damn, are they still fun to drive!

 

Dont hold your breath for a good fair market value. You can buy a 2 year old GT for 15K, so I dont know how much you owe on your sixer but chances are you wont get a heck of alot for it.

Sorry about your wreck and stuff and good luck.

 

If you have GAP insurance, you'll be fine when it comes to getting "fair market value"

 

Sorry to hear about your car man. Everything happens for a reason, at least you and everyone involved was ok though.

 

How can they deam it a total loss if it was just your fender and bumper, the accident had to be bigger then that...sry to hear that man, but if your havin trouble payin the car, a GT will only add to your cost problems with insurance and everything.

 

Airbag deployment tends to always be a total loss. Plus the subframes on these cars are made of tin foil or something...

 

Sorry to hear that bro. But I'm pretty sure you can walk into most any ford dealership and leave with a Mustang. You are probably going to opt for the 05 V-6 or maybe even a GT. It's the time of year they want those models moving off the lot. Thats what i did last oct. Got my 04 GT dirt cheap. Cause it was taking up valuable space..

 

thanks guys. Ya know, the accident would have been so easy to avoid, it just pisses me off to think about it. As for GAP, I don't have it. When I was first getting the loan, I didn't have enough money down to have them swing it in there. Grr to that. There's apparently a ton of things that need to be fixed/replaced on the car, that's why the insurance company is calling it a total loss. I don't know for sure if I will go with a GT right now. Since it's less than a month away from winter, I may go with an Explorer for now and in the spring go back and get the GT. I don't know...We shall see.

 

Your insurance will probably be pretty crazy on a GT just because of the accident so you better call around and find out how much you would have to pay.

 

Thats why even if you can swing the payments you shouldn't buy it unless you can put down a good enough down to stay ahead of the gap.

 

All right. I figure y'all would want to hear this.

So, I finally got ahold of the "Total Loss Adjuster" today, and he gave me the
"best" news I've had since this stupid accident.

They had their appraisers come and take a look at the car and spent some time crunching the numbers and whatnot. Well, he presented me with two different options. 1) I can buy back the car, and they'll give me the value of it as is...$8,400. Just enough for the repairs, however it would then have a Salvage brand on the title if ever I wanted to sell it.
Option 2) sell the car over to them and recieve fair market value...
Fair market value for my car is $10,997.98 after tax, title, license fees, etc. Less the $500 deductible, and I get $10,497.98. The balance on my loan for the car is $9,076 to pay it off as of today. I get to walk away with $1,400.

Can we say "GT" for spring time?

 

gt for springtime. that was pretty easy after a couple of tries.

 

Well, I'll get it now, but I'd be putting it into storage right away. So, in essense, it's for Spring time.