<BLOCKQUOTE><font size="1" face="Arial, Helvetica, Verdana">quote:</font><HR>Originally posted by Janet:
I was rear-ended, my car looks like a total loss. I'm expecting to receive around $2000 for the loss. My situation is that I am a full-time student with a part-time job, I do not want to buy a used car for $2000, yet I can not afford payments on a new vehicle. Can I negotiate with the insurance, of the guy who hit me, to give me more money for my loss.<HR></BLOCKQUOTE>
My response:
Sure, you can try; and I heartily recommend that you do. However, be aware that an insurance company is only liable to you for the "fair market value" of the vehicle as determined by various sources that insurance companies use. They are not responsible for the replacement of your car; that is, the source they use says your car is worth $2,000.00, but the car lot down the street has the same car for sale at $2,800.00. Does that mean they owe you $2,800.00? No. That amount is a "selling" price, not necessarily indicative of the value of the car or what a bonifide purchaser would actually pay for that car on the lot.
Try going to a bookstore, and look at some car value authority books, and make some photocopies as ammunition for your negotiations.
Good luck.
IAAL
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