My insurance company said my car was right on the borderline of being totaled, and they gave me the choice of whether to cash out or repair it. I'm going to consider it totaled and cash out. That's the good news. It's also the bad news.
As if I don't have enough things to keep me busy, now I have to add negotiating with the insurance company for a fair price and shopping for a new car to the list. I'm trying to look at the bright side.
I think the issue will be exactly what constitutes fair market value.
There's a formula they use that involves comparing then averaging the price of cars similar to mine to arrive at a payout number. But the numbers I can find may be different (read: higher) than the numbers they find. I'm getting ahead of myself here. I will hope for the best.
What's nice about getting totaled is I'll get more money for the car now than I would if they fixed it and I sold it down the road. This is my moment to get as much as I'll ever be able to for it.
As my friend Pete said, the decision couldn't be more clear. The integrity of the frame was compromised. The body shop would literally have to cut the back third of it off, then re-weld it back on.
And when it comes to integrity, I work in advertising. I'm already compromised enough.
Of course, my car was paid off and I'm not looking forward to car payments. I'm also not looking forward to driving a pre-owned (used) car. The Lexus was my first brand new car in twenty-one years.
First world problems. I know.
So tomorrow begins the frantic online search of Certified Pre-Owned cars, then planning exactly when I'll have time this weekend to test drive the ones I'm interested in.
Just in case you think I've lost my perspective, I haven't.
Considering how severe the hit was, I'm grateful to be around to have to do it all.
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