Tesla 2013 S - Total Loss after a minor accident

[Rhaspberrywind]

Hello,

I am looking for advice on what to do and how to move forward. We were in a minor collision, someone was making a left and we were going straight. My front bumper hit their side panels. At first look, the bumper was fine with a small hole and one of the headlights have a crack in it. Insurance came back and said the car is total loss since the value to fix it was $20K and that was more then what the car was worth.

1) Insurance will take my vehicle and reimburse $31K including tax
2) Insurance will give $18K and we get to keep the vehicle. We need to repair it and recertify that it is drivable.

Is the car salvage then a rebuilt if we choose the second option?

The place we went to was a little more upscale and the quote for $20K CAD to just fix the headlight and the bumper seems ridiculous.

 

[patrick40363]

I would take the $31K.

 

[Rhaspberrywind]

Hello,

I am looking for advice on what to do and how to move forward. We were in a minor collision, someone was making a left and we were going straight. My front bumper hit their side panels. At first look, the bumper was fine with a small hole and one of the headlights have a crack in it. Insurance came back and said the car is total loss since the value to fix it was $20K and that was more then what the car was worth.

1) Insurance will take my vehicle and reimburse $31K including tax
2) Insurance will give $18K and we get to keep the vehicle. We need to repair it and recertify that it is drivable.

Is the car salvage then a rebuilt if we choose the second option?

The place we went to was a little more upscale and the quote for $20K CAD to just fix the headlight and the bumper seems ridiculous.

EDIT: I did updated the car with a new battery last year as well as the drive train that costed me $30K, hoping to last 4 more years.

 

[a.deodatus]

No question about it, I would take the $31K.

 

[wwu123]

I think Option 2 is basically giving you the $31K total payout, and then letting you buy back the car for what they estimate to be the salvage/auction value (mostly for the battery pack) of around $13K, resulting in an $18K check + car to you.

I guess I'm one of those contrarians like yourself who is willing to put $20-30K into a used car worth only about that much, if it will last another 4-5 years. You already made that decision last year, and you probably did it because of opportunity cost - e.g depreciation avoidance that would be greater than that buying on a brand-new car over the same 4-5 years.

I did similar once on a 10-year old Prius, paying $2K for a rebuilt HV battery on a car worth maybe $3K at that point. But basically an elderly relative was able to use the car after a cross-country move for a few years, before they were ready to get a new car; and after that a newly-licensed, college-age niece was able to abuse it for a few more years before sending it to a fiery grave (the car, not her). So 4+ years of huge depreciation avoidance on new/newer cars they would have needed otherwise.

Now your $30K is a sunk cost, so irrelevant now. The decision now is you could maybe get this car back on the road for $13K + 2-3K, and drive it for 4+ years like you planned. The devil you know is better than the one you don't = you know this car's strength and weaknesses better than using your $31K payout to buy someone else's 2013 Model S that you don't have any confidence in.

And that's again where I was in a similar situation 6 months ago, my 2016.5 was in an accident with similar damage to the bumper and headlamp, plus the hood as well, and I was considering the same - except my insurance wanted $17K US for me to buy back the car, which I thought was a bit high (it ended up selling at auction for $11.5K). But the bumper and headlamp? The bumper cover is $300, painting it another $1000, but then it's $3000 labor to disassemble all the sensor, trim and other things and reassemble, and $2000 to paint match adjacent panels. The headlamp is $200 used, but $2000 labor to disassemble everything around it and reassemble. If you can do all the labor yourself, and forgo paint matching, you can get it all back together for pretty cheap.

I ultimately decided not to buy mine back, partly because they overestimated the auction value, but because additionally my airbags had blown and hence the pyro fuse, and those were total unknowns how and how much to fix. All the best on whatever you decide for yours...

 

[kirkhilles]

What was your final decision?

If it was me, fear would win the day. First off, $31k seems like a pretty large sum for a 11 year old Tesla in today's market. If I was offered $31k cash for my Dec 2014 with AP1, I'd take that in a heartbeat even if it meant getting a less desirable Model 3 or Y. The appeal of getting back under a Factory Warranty again would be a big appeal for me as I'd imagine it would be for you too.

In terms of the choice, I don't think anyone REALLY wants to deal with (what I've heard at least) a salvaged title Tesla... even those people that go through the certification process. For a reliable ICE, it can be a no brainer, but nobody wants disabled Supercharging and refusal for Service Centers to work on your vehicle.