Dealer totals GT 500

[Regulars520]

I think 39k is fair "IF" he can replace the car to the same standards it was when he dropped it off. This is a dealer, they should track down another GT500 and bring it to the standard that his car was in when he dropped it off. Hell the dealer could probably even save a few bucks in the process. Truth is, it doesnt matter if mods hold value, etc... The guy has a job, works hard to earn his money, took that hard earned money to the dealer, bought their product, obviously keeps bringing it to them for service since he has 2500 in service bills and it was wrecked while in their for service. Sounds like a pretty loyal and responsible customer to me. Make him happy. This was there mistake not his, he has been put out by their actions, he has every right to be a little picky. If the dealer called me and said he sorry but we wrecked your cobra, heres a check for the amount we decide, yeah I may or may not be happy with that $$$ amount. I think he has a right to be compensated with a upgraded vehicle or a few extra bucks. Show a little more loyalty to your customers and they will bring you more customers. This dealer could have spun this entire event in their favor for good press by going the extra mile.

 

[TK Doom]

Just doing the math of the difference, he essentially got to have a car for 7 years for only about $8k.

That's less than $100/mo.

He was made as whole as possible by that settlement in the real world.

 

[Regulars520]

Just doing the math of the difference, he essentially got to have a car for 7 years for only about $8k.

That's less than $100/mo.

He was made as whole as possible by that settlement in the real world.

I dont think he had the car for 7 years, were GT 500's going for 37,000 in 08? I think there are some missing pieces of the story that will help. If he just bought the car recently at 37,000 then put 8k into it, it would be understandable to want more. Im curious when he bought the car.

Edit ok did some digging. He bought the car in February of 2013 for 37,000 and then dropped 8k in it. So he has only had the car for a little over 2 years. I think the dealer should have put out a little more for the guy.

Also if loans on Shelbys only ran $100.00 a month I think everybody on this site would own a Shelby. 7 year loan is not very common I dont think on a car, but who knows.

 

[TK Doom]

I was basing it off of that, I didn't know when he picked it up or anything, based on the somewhat biased story, you can't tell.

 

[Kornilov]

Should have refused the check and taken them to court.

U.M.

LOL. :lol: This is the funniest thing I've read on SVTP all week.

"Your honor, my client is refusing a $40K payout for his $30K car because he feels he is entitled to $42K".

Good one rocket scientist.

 

[Regulars520]

LOL. :lol: This is the funniest thing I've read on SVTP all week.

"Your honor, my client is refusing a $40K payout for his $30K car because he feels he is entitled to $42K".

Good one rocket scientist.

I own a shop and it works differently then what you think when it comes to insurance. If he wrecked the car it would be different, the insurance is different. However a business wrecked the car, the insurance is set up differently, the numbers are tallied differently. We all drive with the inherent risk that our insurance coverage is not enough to cover our losses. Which is why you have different levels of auto insurance. However when you bring your car to a dealer, they are required to carry insurance to make customers whole if they damage or destroy their property. The damage is assesed in full. Which means that they value the car and the upgrades, time he spent away from work etc... It is factored differently. If it went to a judge and he had all the receipts, etc it would not be laughed at it would be worked out to make him whole for his out of pocket expenses. If the insurance company does not cover the full value then it is the shops responsibilty to cover the gap. That is what the judge would tell them.

Say he owed $42k on the car and they cut him a 39k check. Is that making him whole? He has no car and still owes the bank 2k? what if he used a credit card for the 8k in upgrades and is still paying on it? Now because of no fault of his own he has none of these parts, no shelby but still has to pay the bill for the parts? That is not being made whole. Basically the insurance company coughed up 39k and the dealer refused to cough up the rest that they are required to do.

 

[LS2GTO]

LOL. :lol: This is the funniest thing I've read on SVTP all week.

"Your honor, my client is refusing a $40K payout for his $30K car because he feels he is entitled to $42K".

Good one rocket scientist.

You must be one of those guys who takes the first offer an insurance makes on your estimate or buys a new car at the exact price that the dealer had it listed for. If that's your beef cool, but others like to negotiate and get the most value our of their entitled sum.

As others have said value is different when it's another parties fault vs. your own fault. When it's your fault, you get back what you had the car insured for regardless of what you put it in after.

When it's someone else's fault, you get back your car exactly how it was and/or the value of what you thought your car was worth. Anything less and you're basically getting screwed as now you're left with less than what you had before and it wasn't your fault.

No I don't think he should take them to court, but I also don't think that he should accept any number they throw at him.

 

[Zemedici]

You must be one of those guys who takes the first offer an insurance makes on your estimate or buys a new car at the exact price that the dealer had it listed for. If that's your beef cool, but others like to negotiate and get the most value our of their entitled sum.

As others have said value is different when it's another parties fault vs. your own fault. When it's your fault, you get back what you had the car insured for regardless of what you put it in after.

When it's someone else's fault, you get back your car exactly how it was and/or the value of what you thought your car was worth. Anything less and you're basically getting screwed as now you're left with less than what you had before and it wasn't your fault.

No I don't think he should take them to court, but I also don't think that he should accept any number they throw at him.

as you said, there's a difference between discussing other options and immediately pulling up the 'lawyer up we're going to court' card.

 

[Uncle Meat]

LOL. :lol: This is the funniest thing I've read on SVTP all week.

"Your honor, my client is refusing a $40K payout for his $30K car because he feels he is entitled to $42K".

Good one rocket scientist.

If the owner feels he's not being "Made Whole" as they like to say he has no other choice but to refuse compensation and take legal action Professor.

U.M.

 

[HandBanana]

Similar situation happened here at a dealer, but it was a FGT. Yikes...tech and dealership did not fair well.

I totaled an STi to damn near oblivion on a test drive once. Called the dealer, sent out a tow truck, rode back to the dealer and went home. Never signed a single document to drive the car or even gave them my license. They were dumbfounded when they asked me for my insurance info and I said, "I'm not liable, you are. I never signed a single document or so much as gave you my license to drive that car. I'm a ghost to you." Never went back to that dealer.

 

[Never_Enough]

He should have got a lawyer.

 

[CobraBob]

^^^ Yes, Saul! LOL.

IMO he got a fair price assuming average mileage on the car and if the car wasn't mistreated by a dealer employee. But IF the car was illegally raced by a dealer employee, then to protect their reputation it would have been smart to do a bit more to ensure the customer is happy, and ensure their name is protected. Perhaps offer him (to buy) a new 2014 Shelby GT-500 at below dealer cost, if they can find one. The steep discount on the new GT-500 along with the insurance check would have made me happy.

 

[Spudz]

A good takeaway from this is never sell the stock parts that you replace on the car. I'll definitely take that to heart as I keep modding my car going forward. You never know when something shitty will happen.