Total Loss Process - What to expect?

[yubby24]

Ayun so borderline total loss na nga daw unit namin mga 1.8 years palang siya.
Ano masasuggest nyo guys? tuloy na total loss or parepair pa if ever possible?

May nakaexperience na ba ng natotal loss tapos kumuha ulit ng auto loan with the same bank?

Ipa-total loss mo na lang at kuha ka na lang ng bago ulit for the peace of mind. Kung ganyang borderline total loss na, kahit pa magawa yan at mapatakbo ulit, hindi natin alam kung lahat nga ba ng sire eh naayos ng mabuti.

[dr. d]

Ayun so borderline total loss na nga daw unit namin mga 1.8 years palang siya.
Ano masasuggest nyo guys? tuloy na total loss or parepair pa if ever possible?

May nakaexperience na ba ng natotal loss tapos kumuha ulit ng auto loan with the same bank?

total loss.
get a replacement car with the settlement money.

fixing the old car...
it probably won't be the same.... either physically, structurally, functionally, or psychologically.
we also had some experience.

[_Qwerty_]

magkano worth nung car? baka lugi ka pa lalo na kung naka loan for 5 years..

[ArjAngel]

magkano worth nung car? baka lugi ka pa lalo na kung naka loan for 5 years..

mga 1.2 namin nakuha, 4 years to pay, about 1.8yrs na ung age ng vehicle ngayon.

total loss.
get a replacement car with the settlement money.

fixing the old car...
it probably won't be the same.... either physically, structurally, functionally, or psychologically.
we also had some experience.

pano ba nadedetermine yung current price? sila (insurance) ba unang magooffer ng value?

[dr. d]

mga 1.2 namin nakuha, 4 years to pay, about 1.8yrs na ung age ng vehicle ngayon.




pano ba nadedetermine yung current price? sila (insurance) ba unang magooffer ng value?

from what i understand,
if it is total loss, the maximum receive-able amount is the maximum amount indicated in the contract.
but these guys are skilled in utilizing depreciation to an art, in further lessening the receivable amount.
bottomline, "it's haggling time!".

also, if owner spent loads of money to load up on accessories but did not reflect these on the insurance, the insurance sure as hades won't cover them.

[ArjAngel]

actually dilemma ko din is if kukuha ako ng bagong unit after matotal loss marereset yung auto loan ko, another 4 years while if paparepair ko is resume lang current payment tama ba? assuming makakuha ulit ako ng bago sa value na bibigay ng insurance, sa bank daw nila didirect, if may sobra pa, yun yung makukuha ko.

sa mga nakakuha sa insurance usually ba enough yung binibigay nila to apply for another auto loan?

at kinocover ba ng insurance yung storage fee if total loss?

[_Qwerty_]

lagyan natin nang figures..

for example:

SRP nang sasakyan = 1M
down 20% (200T), 5 years loan = 18T a month monthly amortization for 5 years
total payout to the bank after 5 years = 18T x 60 = 1.08M

1.8 years = 20 months x 18T = 360T
Total cash out to date = 200T + 360T = 560T

2nd year value as per insurance = 910T (10% depreciation)

Total Loss = Insurance will give bank 910T
Bank Balance = 720T (40 months)
Bank will give you back = 910T - 720T = 190T less 2T participation = 188T

*560T na nailabas mo then 188T babalik nang bank, so talo ka nang 372T

actually dilemma ko din is if kukuha ako ng bagong unit after matotal loss marereset yung auto loan ko, another 4 years while if paparepair ko is resume lang current payment tama ba? assuming makakuha ulit ako ng bago sa value na bibigay ng insurance, sa bank daw nila didirect, if may sobra pa, yun yung makukuha ko.

sa mga nakakuha sa insurance usually ba enough yung binibigay nila to apply for another auto loan?

at kinocover ba ng insurance yung storage fee if total loss?

[ArjAngel]

lagyan natin nang figures..

for example:

SRP nang sasakyan = 1M
down 20% (200T), 5 years loan = 18T a month monthly amortization for 5 years
total payout to the bank after 5 years = 18T x 60 = 1.08M

1.8 years = 20 months x 18T = 360T
Total cash out to date = 200T + 360T = 560T

2nd year value as per insurance = 910T (10% depreciation)

Total Loss = Insurance will give bank 910T
Bank Balance = 720T (40 months)
Bank will give you back = 910T - 720T = 190T less 2T participation = 188T

*560T na nailabas mo then 188T babalik nang bank, so talo ka nang 372T

Salamat po sa computation sir! Tingin niyo ok lang na parepair namin? per casa repairable naman siya, di naman daw tinamaan engine.
Di rin ako sure saan nagbase ang insurance baka sa repair price, about 480k worth na kasi kaya siguro dinedeclare na borderline total loss.

may nakaexperience na ba na pinili na parepair instead of total loss claim?

[_Qwerty_]

pag ni repair kasi hindi lang naman engine ang concern.. yung safety nung chasis (kung tinamaan).. alignment nang mga gulong, etc.

for peace of mind I suggest pa total loss mo na lang and moved on.. get a new car..

Salamat po sa computation sir! Tingin niyo ok lang na parepair namin? per casa repairable naman siya, di naman daw tinamaan engine.
Di rin ako sure saan nagbase ang insurance baka sa repair price, about 480k worth na kasi kaya siguro dinedeclare na borderline total loss.

may nakaexperience na ba na pinili na parepair instead of total loss claim?

[dct]

Salamat po sa computation sir! Tingin niyo ok lang na parepair namin? per casa repairable naman siya, di naman daw tinamaan engine.
Di rin ako sure saan nagbase ang insurance baka sa repair price, about 480k worth na kasi kaya siguro dinedeclare na borderline total loss.

may nakaexperience na ba na pinili na parepair instead of total loss claim?

Really not worth it. Isipin mo parang chop chop na ang sasakyan mo. Not really that safe. Tapos maiinis ka lang like may sabit pag nagsasara ng pinto kasi di talaga nila makukuha ang alignment. And etc etc..

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