2001 Corolla Value - Toyota Corolla, Chevy Prizm (1998-2008)

Man, my 2001 Corolla S was totaled. I'm very sad, I spent so much time taking care of it. Washing and maintenance. It feels like I'm losing a friend, I'm gonna miss it. How much should I be expecting from the insurance company? I don't want to get low-balled.

I don't think the accident was my fault either cause there was this big rig that swerved all the way from the slow lane to the fast lane. It sort of did a jack knife into the center divide. Trying to avoid hitting the big rig i went towards the right, but this other car went BAM right into the big rig and bounced backwards, and then it collided with the front of my car. This shouldn't be my fault right? I don't think there is anyway I could have avoided it cause these cars came from the other lanes. The freeway was wide too, it had freaking 4-5 lanes each direction! That car I collided with is also perpendicular to me, not parallel. It wasn't like I was tail gating or something and I was not speeding. This was an unexpected casualty lost.

I'm pretty pissed at that big rig, he said the road wasn't pave correctly and something scraped his air valve or something. I'm thinking he probably fell asleep, went off the road and swerved back in and lost control. I mean come on, freight trucks have a lot of ground clearance. I really want my car back, but it's too much to fix. The airbags deployed, both of them.

KBB says retail is $7,400. What should I aim for or what would be reasonable? If they do give me something super low, what should I do? Should I try to negotiate something higher?

Here are the details, 2001 Corolla S:

alloy wheels, cd player, spoiler. excellent condition (cause I kept it in the best condition it can be, it looked and feel likes it's brand new), 105k miles, automatic. dual airbags, cruise control, tilt steering.

I also need some help deciding what to get to replace this. I was thinking an '01 Accord coupe and I want a manual. I also like the new Mazda3.

I'm so sorry to hear that! I'd be devestated if that happened to me. I think the amount that the insurance company will pay for you depends on your policy with them which could give you the KBB value or something less. As it sounds, you were not at fault for this accident, when the police filed a report did you bring this up and did another driver admit any fault? If you did not say you were not at fault, you should call up the police department that filed the report ASAP and explain this to them and try to get them to add it to the report. If another driver was at fault you should be able to get the remaining value of the car that your own insurance will not pay from their insurance. A lot of forums and websites I found suggest that they took the driver at fault to small claims court and got that driver's insurance company to pay for the difference. If they were entirely at fault maybe it's their insurance company that has to pay, I'm not sure. I'd recommend getting a second opinion as this has never happened to me but hopefully I was able to help.

Here's a link to the value I got on KBB. It's the retail value though. Should I be using that?

http://www.kbb.com/KBB/UsedCars/PricingRep...7C197526%7Ctrue

Depends on the insurance company - some may pay out wholesale prices, which are typically a 1/3 of the "trade-in" values. Some will give you actual retail price - depends on your particular policy, need to have something along the lines of a "stated value" - generally for ones that have classic or collectors cars, have to pay an extra premium for that. Some have a more complicated formula - have to contact your insurance company to be sure.

Almost all insurance companies pay out ACV or Actual Cash Value, in cases where the car is totalled. They can get that number for actual sources (dealerships), online like KBB, or third party sources. ACV falls very closely to KKB trade-in value, not retail value. Many times you can negotiate for a higher payout, if you can prove it with written quotes from dealerships on what they consider ACV.

Depends on the insurance company - some may pay out wholesale prices, which are typically a 1/3 of the "trade-in" values. Some will give you actual retail price - depends on your particular policy, need to have something along the lines of a "stated value" - generally for ones that have classic or collectors cars, have to pay an extra premium for that. Some have a more complicated formula - have to contact your insurance company to be sure.
Almost all insurance companies pay out ACV or Actual Cash Value, in cases where the car is totalled. They can get that number for actual sources (dealerships), online like KBB, or third party sources. ACV falls very closely to KKB trade-in value, not retail value. Many times you can negotiate for a higher payout, if you can prove it with written quotes from dealerships on what they consider ACV.

A guy on toyota nation just went thru the same thing. Got hit by an idiot running a red light, totalled his beloved corolla(01 also if I remember right) that he just got thru fixing up with mods. He said the insurance co. only gave him under $6k for it and it was a really nice one too. The only thing he could find for that money was a neon with a cracked bumper in nowhere near the shape his corolla was so he's bummed naturally. I'd say hope for the best but expect the worst.

Sounds like it wasnt your fault. The trucker could be telling the truth though because roads and hwy's are not maintained like they should be. Neither are their trucks so it could always be possible his company is partly or completely responsible for the part failure. Depends on what their maintenance records show for the truck and if there are road defects near the scene.

sorry for your loss! here is a link for 2001 corolla s for sale. sounds like 10 grrrrr to me. If you did not get a ticket the the accident was probably not your fault. You do need to see the police report to find out who was deemed at least 51% at fault. If it is not you , then your insurance company will pay your deductible and fully cover your loss. ask your agent how your policy is written. If it is replacement value or some other method.You can negotiate the amount with the adjuster by meeting with them at the place where the car was towed. Show how the car was in perfect condition . It does make a difference.

http://www.autobuyguide.com/classifieds/24...la/s/index.html

ARGGG. I pretty pissed at that truck driver, I had such a good car.

I'm also pretty scared my insurance will say I'm at fault cause the front of my car did collide with the back of the car that reflected backwards after hitting the truck. But I have friends who keep telling me that I shouldn't be liable because it was unavoidable. The truck was the cause and everything afterwards was the effect, so he should be 100% liable. They also tell me that the car bouced backwards, so there is no way of avoiding the contact. I'm so worried... Even though I have full coverage with a $500 deductible. I don't want my insurance premiums to go up.

I need another car and I have limited funds. I'm also planning to go grad school. I'm graduating from college this Saturday, so this accident ruined my good week. ARGGGG. WHY!!!! On the day of the accident I was going to school early just to take an exam too.

Sorry about your Corolla. Glad you're all right. I think that what you're going to get the most of from your insurance company is a hard time.

Do you have a copy of the police report of the accident? Were any of the parties involved injured? If so, this would create a longer paper trail, and possibly more data which could absolve you of liability, thus justifying your demand for a higher payout from your insurance carrier.

The CHP is still in the process of making the report. They said it takes up to 14 days. No one was hurt, too. There were a total of 4 cars, and 7 people involved.

https://s720.photobucket.com/albums/ww207/d...nt=IMG_0005.jpg

Here is a picture of the result of this incident. My car is in the center.

https://s720.photobucket.com/albums/ww207/d...nt=IMG_0005.jpg
Here is a picture of the result of this incident. My car is in the center.

from the looks of the picture ,you are not at fault and your car is probably repairable. Its pretty obvious that the truck jack knifed and caused the accident. do you have rental coverage on your car while they fix it..

Won't know fault for sure until the report comes out.

A co-worker was involved in a similar accident several years ago - multi-car pile up, he was in the middle - he was found at fault for just the car he struck. Accident was caused by two large trucks that tried to occupy the same lane at the same time, resulting in the cars behind them desperately trying to avoid colliding with the trucks.

The car that he struck, locked up its wheels, spun, struck the center divide and bounced backwards - into his car. He tried to avoid it by swerving, but it was no go - trying to come to a complete stop from highway speed in damp conditions in a space of less than one or two hundred feet is nearly impossible for most people. Since he was still moving forward - he was cited for failure to yield, even though "technically" he could do nothing to avoid it. Only in the case that he was completely stationary - then it would be the other person's fault.

Also check with your state's law on what constitutes fault. Some states go with the 51% or more (Proportional Comparative Fault ruling), as the one that could be blamed for 51% or more causing the accident is at fault. Some states need 100% at fault, to assign blame.

I was recently involved in an accident where someone struck me from behind at a toll booth - was raining and they were travelling too fast. But their claim was I stopped too quickly - I was stationary, the car locked up its wheels and slid into me - toll both operator witnessed the whole deal. Should have been a cut and dry case - but since it was on private property and no police record (toll road) and it was my word against theirs - in the state of Virginia, blame has to be 100%, otherwise it will be considered contributory negligence - meaning even though that other person ran into me (according most normal states), here, I could not recover any damages. Lawyered up (no injuries on either side, but I had a caved in bumper and fender) - bit still a no go - deductible has to come out of my pocket, just because some nutball couldn't drive properly and didn't want to take full responsibility for it.

I hope you dont have state farm because they screwed me out of $500 over an accident that was clearly the other party's fault. The agent was lazy and didnt return calls and when I hounded him he didnt have any answers. Just didnt want to work. Gave up citing the other party got an attorney. Big deal. The other party was lying, admitted to hitting me at the time and apologized scared out of her wits from fear my raging wife at the time was going to thrash her good in front of all her friends. Her boyfriend got her and her friends to lie to the cop about the accident saying I hit her. Turned out ok in the end though because the idiot stole my car a year later and I caught his stupid butt driving in town with it and in the slammer he went. Broke out and got caught in another stolen car at the border so now he's serving more time. What goes around comes around, in spades. Now the little punk is probably keeping big tyrone happy at night and if so it serves him right.

Anyway do what you can to make sure your insurance company doesnt screw you, especially if you have state farm.

So here's the update. The insurance company valued the car at 6,800. Sales tax and licenses fees made it up to 7,500. But they are making my pay my deductible of 500, so I'm getting back 7k. I hope I didn't get lowed balled cause I was pretty happy when I heard this. I thought they were going to offer me somewhere around 5k, so I immediately accepted the offer.

I don't know why, but the insurance company sent me a letter saying they are not going to pursue the other party to recover any of the expenses. I have the option of doing it myself though. I don't understand this, are they saying I'm liable for the accident? I left a message for my adjuster, I'm waiting for a call back from here.

BTW, my insurance company is AAA.

I don't really know what car to get with the 7k. I have to return my rental on Monday. I want something more sporty. The corolla was a good car, but it wasn't really that sporty. It's a good family car though, I would have kept it as a commuter car forever or until the engine dies on me.

I'd say $7k is good. I dont know what to tell you about the insurance situation but when my corolla gives out I'll be looking at civics and accords w/ more hp yet still decent mileage. Im tired of the lack of hp and sloppy suspension but it is a reliable car, gets reasonably good mileage, is loaded with enough options to be comfortable and looks good for an economy car so Im grateful to have it none the less.

You did quite well at $7,000.

You could always try craigslist for a new car. That's where I bought mine. Just be smart, check the car first, and get the VIN number to do a more thorough lookup. Although mine's a 98, and I paid $3,500 for it, I did have a few problems. However, almost all of them can be fixed for a reasonable price, since I live in hicksville, and plenty of people I know can do it for cheap if I have the part.

As of now, I'm close to buying a 1996 BMW 328is. It has 160k miles though, but I think it should last pretty long. I test drove the car today, and it felt so much better than the corolla and the newer mazda3 I was driving for a while.

I need to to bring it to a shop to have a used car inspection done. Hope it's not too pricey.

It had a lot more power and more features than my '01 Corolla S. It also feels a lot better on the freeway, seems like it grips the road a lot better and the engine feels so powerful from stop to go. So cool, has auto dual front zone climate control and leather seats.

Keep us updated on the BMW. There really is no comparision between the Corolla and the BMW 3-series - completely different classes.

RWD, nearly perfect weight distribution, communicative steering response and weight, relatively lightweight and sized smaller than most other sedans in its class - strong aftermarket support and many good and informative forums.

As long as it had good maintenance over its lifespan - mileage should not be an issue. Parts costs can be eye-popping at times, just to warn you, plus labor charges tend to run on the high side (there is a Toyota/BMW dealership back home - Toyota hourly labor was $85/hr, but the BMW hourly labor was $105/hr - many times was the same techs).

Maintenance requires specialized tools (BMW service toosl to turn off/reset service lamps) and tend to be pricier than Toyota comparable parts. Mainly due to the nature of the parts - BMW being more performance/luxury oriented and Toyota being more service life / easy to work on oriented. Some model years - do not recommend rotating tires at all, so tire life will be significantly diminished. That and the "sporty" flair of the car, need to budget accordingly for you wearable items. Expensive - but fun.

The car did have the airbag light on for some reason. The guy said his mechanic told him the car is fine, the light is faulty. I've been doing research on the airbag light and found it to be a common issue with that BMW model (E36). It appears to be some kind of weak wiring or something, but nothing is wrong. Just requiring a reset every once in a while.

I hope that is the case and it's not a huge issue.

Yeah, definitely don't want to pickup someone else's electrical nightmare - BMW is tough to work on electrically (atleast compared to a Corolla).

Should be OK, as long as you get it inspected by a BMW savvy shop - many of the good euro shops have former Master techs that want to jump through less polical BS at their former jobs. I had a 1990 BMW 325is briefly (E30) - before it was totalled by a family member (body showed no apparent damage, but the driveshaft completely ripped off the car). Only thing that gave me headaches were the electrical glitches from time to time. Pretty much everything I ordered for the car came from Bavarian Autosports, http://www.bavauto.com/ - good prices on hard to find items, lots of options there.