CcAMG

Hey guys I have a 2003 E55 AMG fully loaded, it has 52k miles, it is 1 of 7 presidential edition, so it came with navigation the carbon fiber trim distronic, everything you could get on the thing. I also have an E63 conversion done to the pront and the entire front end to the back of the hood and fenders clear bra.

Yesterday i had my car warming up as i was getting ready for work and was parked in front of my house, when i came outside i noticed my passenger airbags were hanging down and walked to the passenger side and it had been hit completely down the side. destroyed the fender, both doors, qtr panels rear bumper, both wheels and a whole lot of suspension front and rear. the side curtain bag and rear door airbag blew.

The insurance adjuster came out today and it is all covered under hit and run, but the are trying to value the car at only $21k.

I feel like the car should be worth much more, not only was it in perfect condition and low miles, but i feel the presidential edition should add a good bit of value, but its hard to put a number on it because there were only 7 made.

Has anyone dealt with a rare car being totaled and trying to put a value on it that is over KBB or NADA?? and in your opinions what should the car really be worth? Thanks!

adianaty

I had a '94 Saleen S351 that was stolen from me and they valued the car off of the VIN which was for a V6 mustang and they offered me $3500. In the end what worked for me was to tell them to replace the car with an identical car. I found adds that matched, there were only 2 in the US. They physically called them and did additional research and suddenly my payout went up to $30k. It was very painful and took two months.

It will depend heavily on how credible your adjuster and agent are, so try to move it up the chain as well. In your case, I'm not sure how much more you can expect but if you prove you are being underserved and realistic, they will take care of it.

Good luck!

AMG E Power

sry to hear that. try and get maybe a couple more G's and take the offer.
I know these are wonderful wonderful cars but being urs is an 03 its a decade
old now.TAKE THE MONEY and get the biturbo if u can !

viren.89

Sorry to hear that.

Don't leave any stone unturned.
Go up the command chain, go to better beaurea for business, get a lawyer involved. Tell them to replace it. Be patient it will take some time. Also try what the above member said. Tell them to replace it.

Another thing is that they can justify payout by saying you were paying premiums based on it being an E55 not the special "Presidential Edition" and what not.

But go down swinging ! Good Luck

efiftyfizzle

Sorry to hear that, but take the money and buy it back from insurance and then sell me that CF interior!

E63//AMG

Sorry to hear. $21,000 is actually on the high end based on your year, milage, and options. These cars depreciated quickly and for an '03 with all the options that's the top of the mark.

radride

Take the money and run and don't look back. You have to consider how much your time is worth arguing to get a thousand or two more dollars. For me, its not worth it to battle it out for 2 months. Move on.

R.K.

novae500

Take the $$$

black06c230

wow never knew these existed
its an old thread i found but for the others here is a post with some pics of one for sale 3 years ago.
https://mbworld.org/forums/mercedes-...-warranty.html

moosejaw

Presidential editions are extremely rare
they were made specifically for MBUSA execs
All were tectite gray with charcoal leather and came with Nav
A year ago, one retailed for $27K with +/-43000 miles

Note that the CF interior is a $5k option.
The car retailed for $109K back in 2003

ArmoE55

I am going through the EXACT SAME SITUATION as you, except for a BMW (I won't disclose what kind, but the car is very rare, 1 of 9 in the country).

My car had exceptionally low miles for a 13 year old car, PRISTINE, and I mean pristine condition, one owner since new (older gentleman) and absolutely stunning car to look at for minutes on end (under 25K miles).

Long story short, went to avoid a small animal in the road, lost control, tried to control it but tail end came out and down the hill I went. I was safe, thankfully. Car was towed, tow yard said the car is definitely totaled. Adjuster called, got info, reviewed, said it is likely totaled. Appraiser for ins went out, called and said car is totaled and total loss will contact for value etc.

here's where it gets interesting:
Total loss calls three days after appraiser and gives a value of $21K(Ironic to your story as well). I said I am not accepting and that it very low; that evening, I researched autotrader, KBB, edmunds, you name it. From about 4 sources, I gathered the same car in mileage, condition, options etc. and the average was $6-7K above what the ins was offering me as the value. I sent them every source report and told them to refute my claims, to which I either didn't get a response or was denied saying their value was reasonable. I went back and forth for a couple weeks with my ins; what a PITA dealing with some of these people. It's like talking to a wall.

The purpose of the ins co is (in situation like mine where it is my own fault, no other cars/people involved) to reimburse you the fair market value so as to make you, the customer, whole again. Give or take a thousand here and there is reasonable, but several thousand is not.

This happened in Jan this year and it is still open. I finally had to obtain legal counsel and they are handling the situation currently.

Thus far, we have submitted a certified full appraisal report from the most reputable company in the state and submitted to the ins co. We are waiting to hear back from the adjuster if he/she will settle after reviewing the report.


Trust me when I say this, if you don't take the money, be prepared for SEVERAL MONTHS of BS. It largely depends if you need the money. If you don't have a car anymore to get to work etc, then taking the $$ might be your bet. If you have another car or can manage not having a car for months or longer, then push back with the ins and potentially (depending on just how much discrepancy there is between the value they're offering and how much the car is actually worth in the market in your locality), if needed, you'll have to sue for good faith or at a minimum obtain a lawyer in case you have to file suit.



The decision is yours whether the car is truly worth enough to get a lawyer involved and threaten a lawsuit - or a certified letter to the state insurance regulator claiming bad faith on the ins co's part.

Having said all that, the situation you are in is different as it is a hit-and-run accident (and I'm assuming the person didn't leave a note) and a whole different animal/realm of crap you have to deal with with the ins/lawyers.

Kokopelli

Ask for 21k and the car. Then part it out.

Sir-Boost-a-Lot

iTrader: (1)

Great idea. Even 20k and the car would be awesome. From my experience, you stand ia much better position when you're dealing with someone else's insurance that totaled your car than if you're trying to claim off your own insurance and argue the value. Especially if the car is modded. I've had many customers of mine over the years get significantly more than KBB , sometimes over double KBB due to modifications, custom engines, paint jobs, etc. That won't fly from your own insurance unless there's additional coverage bought for the mods.

CcAMG

Thanks for all the replies, I think asking for the car plus the cash would be awesome, put that motor in my 1993 volvo 240 wagon haha

bleucamaro

If your policy states replacement cost, then start shopping at the most expensively priced dealers you can for similar car, Find three higher priced cars, send the quotes to the insurance adjuster and they should accommodate.

If they’d give you $21k and the car, I’d take that in a heart beat.

60nomad

I am surprised that many of you are telling him to take the money so fast! A 2003 with only 52k miles is only worth $21k??? Find me one with only 52k miles for $21k....I challenge you! Then find this special edition for that...NEVER HAPPEN!

04's with 52k are worth $24k...miles are everything in these cars. I had a white one local to me with 44k miles and every option and he wanted $30k...I figured I would wait a couple of weeks and call him back and offer like $24k...how about he sold it for $28k on craigslist!!! So, I do not know what you guys are thinking because insurance usually pays way more then your car is worth...NOT LESS!

DON'T TAKE THE MONEY...GET THEM TO PAY WHAT IT IS WORTH! Everyone reading this...tell what your insurance cost for these cars? It surely aint the same for a 2003 high end lexus LS with 50k miles and the value is about $18k!

...and of course $21k and the car is fine but that's a no brainer.

E63//AMG

^ what someone is asking and what a car is worth isn't the same thing.

$28k for an '04? Overpriced. When I was shopping E55's I was looking at only '05 and '06 with less than 60k miles and I wouldn't have paid over $25k out the door with taxes and everything. I almost bought an '05 with 45k miles, 2 owner, well maintained with new pads and rotors. We agreed on $23k but I ended up passing because I preferred the updated E63's. He ended up selling it for $22,500. I will never pay more than what the car is worth.

BBBSS

I'd at least go back and forth a few times to see how firm they really are on the price. I know a few people that got a few grand more without too much trouble. Once you eek out a few grand agree to it if you get the car as well.


I think the funniest stories were a few years back when the 94-96 Impala SS's were still fairly new and worth descent money. The titles in many states would say 96 Chevrolet Caprice/Impala SS for both caprices and impalas. Guys were buying used cop cars for 3-4 grand and when they got totaled they were getting offers upwards of 20 grand as if it were an Impala SS. The impala board had a number of these stories.

Qmax03

$21k, seems low to you, but as a Insurance compnay i dont think they see it more then a 2003 E55..

If i was you id take out the CF interior trim and swap with someone before letting it get junked.. =)

forcefed4door

in 30+ years a special 1 of 7 e55 may have been a really decirable collectible

E63//AMG

^ the only thing that made it unique was the carbon fiber trim. Everything else could have been had. So though it may have been 1 of 7 it really isn't that special in terms of what it was.

Don't get me wrong though, that carbon fiber trim is **** and hopefully at the minimum you take that out of the car.

CcAMG

Yeah I know it's realistically only worth around mid 20s and I am probably stretching but I figure anything extra would be nice, I couldn't take out te CF unless I had other trim to put in it

pimpjuice

ill send u trim to put in if i get the CF...hehe

Carterhkrs

+1

dllhg

Regular E55 03 books out at around 14K with that mileage. One local to me was PERFECT and sold for 17K with 59K miles. I got my 05 with 60K miles for $17K.... $21K seems VERY fair