Actual cash value vs. Retail value?

I understand the price they offered is the actual cash value. Is it true that the ACV is always lower then the retail value??

Hiya:

Hopefully they explained ACV to you. ACV is the market value of your vehicle.

That is…if you were to try to sell it the day before it was in an accident – what you would sell it for is the ACV.

Hopefully they told you that the ACV is determined by the area you live in. A Camry in Kentucky is not worth as much as a Camry in Ohio for example.

BTW – if they are not able to find a comprable vehicle…they have to go up to the next newer model year….they can not go backwards. And – if they are using vehicles with more mileage…the simply take a mileage deduction to adjust the value. That is the same with your vehicle.

Anyway….if it’s a total loss and you owe money on it….you’re not going to get the entire value they offered you.

So, hopefully you know by now that a USED vehicle can NEVER be sold for RETAIL.

Clear as mud, eh? lol.

Best o’luck to you!

~jifr!

No matter what exactly are we planning to buy, all of us have a tendency to discover the cheapest possible solution for our requirements. So, the very same applies to purchase Automobile Insurance.

Is the Audi TT a sports car?

I know some cars look like there sports cars but aren’t classified as sports cars but is the Audi TT a sports car? Im needing to know for insurance purposes

for insurance purposes? id say you might be able to call it just a coupe.. after all, its just a rebodied VW beetle.. would you call that a sports car?

Fancy driving your neighbour’s new BMW 7 series? WhipCar could make it possible

The world’s first neighbour-to-neighbour car rental service had hundreds of drivers registering just a week after launch. WhipCar, aims to make car usage in the UK more efficient and allow cars owners to make money from what might essentially be an “idle asset”.

Owners of underused cars can rent their vehicle out for anything from a few hours to week and local drivers, without a car, can benefit from a convenient and affordable rental service. Unlike a traditional car rental service, such as Streetcar (the largest car club in the UK), WhipCar does not need a lot of users to make it work.

That does not stop WhipCar, which is likely to see car owners firstly renting out to family, friends or affiliates, having big ambitions. Founder Vinay Gupta was quoted in The Times as saying: “Our vision is that, in time, someone will be able to step out of their front door and have four or five neighbours’ cars within striking distance for hire.”

WhipCar take care of security checks, with the Driver and Vehicle Licensing Agency, audit cars and provide bespoke insurance. Both parties are protected with a fully comprehensive insurance policy, that does not affect car owner’s no claims bonus should the renter have an accident.

But whilst you can rent an Audi A3 sport and Audi A6, and might eventually be able to drive your neighbour’s new BMW 7 series, insurance limitations mean that WhipCar has been unable to accept drivers of sports cars, including Porsches, Jaguars and Ferraris.

Top of Form

Bottom of Form

About the Author

http://www.petervardy.com/bmw