T-Boned Today. Is It Totaled?

[Doctors Do Little]

After reading this comment it occurred to me, will there be anything different in these scenarios with the $7500 fed tax credit being erased? It’s gonna be harder to get a fair price replacement after sept 30th, no?

That's a good question, though I'm not 100% sure I understand the implication. $7500 is on a new vehicle. Are you saying that the "value" to replace a new vehicle that was wrecked the day after it left the lot would be somehow impacted by the absence of the $7500 incentive in a couple of months?

I figured that the vehicles would simply sell for less with Ford incentives anyway?

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[MountainAlive]

That's a good question, though I'm not 100% sure I understand the implication. $7500 is on a new vehicle. Are you saying that the "value" to replace a new vehicle that was wrecked the day after it left the lot would be somehow impacted by the absence of the $7500 incentive in a couple of months?

I figured that the vehicles would simply sell for less with Ford incentives anyway?

Yeah I just mean our current trucks that we bought with the $7500 credit. If it gets totaled after sept 30 then getting a replacement is $7500 more expensive?

 

[Zprime29]

Yeah I just mean our current trucks that we bought with the $7500 credit. If it gets totaled after sept 30 then getting a replacement is $7500 more expensive?

There's no guarantee of a $7500 credit now due to income limits. The insurer shouldn't be taking that into account now, so it will not make a difference (to them) later. Where it will make a difference is to us, since vehicles continue to get more and more expensive over time (generally speaking). The goal of insurance is not to be able to buy a brand new vehicle, it's to replace what you lost. So they (try) to give you enough back to replace for a similar vehicle. USAA has the option to pay a little extra premium for a boost to that pay out and a few other I found have new car replacement options (if less than 2 years old if I recall).

Bottom line is that we shouldn't expect to buy something new when totaling a 5 year truck with 60k miles. For those who qualified the tax credit was great. Unfortunately that bonus is ending, will be interesting to see how automakers adapt. I plan on driving my lightning for 20 years or more, if it gets wrecked, I will likely look to replace with a used and maybe try to score one with slightly less miles. I'd be happy with that.

 

[hturnerfamily]

I'll agree... it's not fun, but it's the way things work

I don't blame Ford, or any manufacturer, of any product, for not compensating for 'inconvenience', although it certainly feels 'fair' that they should...
...our term of 'fair' is a subjective meaning...

they 'can', but, they are under no obligation to, as inconvenience factors are wildly different from situation to situation: a warranty is not attached to 'where' the inconvenient accident or warranty issue happens, unfortunate as that may be.

You might can buy insurance, or add 'roadside' and other insurance products to your Auto Insurance policy, but those are only good if you purchased those ahead of time.

I recently thought of this very situation several weeks ago, when we were to travel hundreds of miles to a beach resort, with our camper, for several days of 'unrefundable' reservation costs.
- It wouldn't matter to the resort 'why' we might have to cancel, if we never arrived due to an accident along the way... it would still be NON-REFUNDED.
- it wouldn't matter to the resort 'why' we might have to leave early, due to a sudden illness... it would still be NON-REFUNDED.
- it wouldn't matter to the resort if we never made it to our destination, due to an issue with our vehicle, whether under warranty, or not.

could we 'blame' the resort for their policies? Yes, of course, and we probably would SHOUT loudly about it being 'unfair', due to our 'special' circumstances. Alas. it would not change anything.

YES, we take many risks, every day of life, that are not 'refundable'. We just have to enjoy life when it is going great, to know that there may be times when it is not. We also could be caught up in a flood, of major proportions, in the middle of the night, while sleeping, with no way out - let's count our blessings, every day, otherwise.

 

[Ted23Lightning]

There's no guarantee of a $7500 credit now due to income limits. The insurer shouldn't be taking that into account now, so it will not make a difference (to them) later. Where it will make a difference is to us, since vehicles continue to get more and more expensive over time (generally speaking). The goal of insurance is not to be able to buy a brand new vehicle, it's to replace what you lost. So they (try) to give you enough back to replace for a similar vehicle. USAA has the option to pay a little extra premium for a boost to that pay out and a few other I found have new car replacement options (if less than 2 years old if I recall).

Bottom line is that we shouldn't expect to buy something new when totaling a 5 year truck with 60k miles. For those who qualified the tax credit was great. Unfortunately that bonus is ending, will be interesting to see how automakers adapt. I plan on driving my lightning for 20 years or more, if it gets wrecked, I will likely look to replace with a used and maybe try to score one with slightly less miles. I'd be happy with that.

I highly recommend USAA for auto insurance. Amazing to deal with.

 

[The Weatherman]

Dido that

 

[NW Ontario Ford Lightning]

... I plan on driving my lightning for 20 years or more, ...

Ditto That ! (well I have ten years in mind, but I like your confidence!)

Year 2045 little boy says to his parent "What is THAT - pointing at F-150 Lightning driving by"
Parent to the little boy "That son, is a Classic"

 

[MotoGary]

Update: Today I took a ride on the Allstate Roller Coaster!

I started the day going to the service desk at my Ford Dealer. I told the Service Manager my story, showed him pics of the damaged truck, and asked for his advice on how best handle this. His response was that from his experience, the insurance company was naive in their assessment that it would be cheaper for them to repair the Lightning. Nevertheless, he recommended that their Ford Certified Collision Repair Center was best equipped to do the body work; And since they were nearby, they could easily coordinate any mechanical/battery/electronics issues discovered after the tear-down. Seemed to me to be the best available option for repairing the truck, so I started to proceed with that plan.

Then....Just as I finished up with the Service Manager, the Allstate adjuster called me. The timing really couldn't have been better. I told him I was at the Ford Dealer now talking with the Service Manager and I recounted my discussion with him. I mentioned all of the potential issues with the repairs and told him that the Ford Service Manager basically thought they were nuts to try to take on the repairs.

He told me to go ahead and contact the Collision Repair Center anyway and arrange with them to accept the truck and they would have it towed there. So I did.

Just as I was leaving the parking lot of the repair center, the adjuster called back. As I was telling him that I was just leaving the repair shop....He cut me off and said "Well, you won't be needing them because I talked to my manager and he agrees that there's probably more complexity there than we want to deal with so we're gonna total it. I've already emailed you our settlement breakdown"

I was running late for work and didn't have time to read it until the afternoon. The bottom line number...... wait for it...............About $42K including taxes and fees.

Well, that's a start! Not as lowball as I expected, but still not enough to get me to pre-crash value. Now the settlement negotiations begin. I'll be preparing a counter offer and sending it to him over the weekend. Hopefully I'll get a response sometime on Monday. Stay tuned....

 

[rdr854]

Yeah I just mean our current trucks that we bought with the $7500 credit. If it gets totaled after sept 30 then getting a replacement is $7500 more expensive?

Back in 2018, I totaled a brand new 2019 Ford Fusion Hybrid. The insurance carrier determined the ACV by looking at the price a dealer would charge for the identical car. Mine had 140 miles on it, so they charged me for that even though the car was delivered to me with 120 miles.

 

[PA Lightning]

Update: Today I took a ride on the Allstate Roller Coaster!

...I was running late for work and didn't have time to read it until the afternoon. The bottom line number...... wait for it...............About $42K including taxes and fees...

$42k does not sound bad as a first offer for a 2022XLT SR. What are you hoping to get?

VisorVin shows 17 used 22 XLTs for sale nationwide. Only two are above $40k and they may be ER.

https://visor.vin/search/listings?m...type=used&year="2022"&trim=XLT&sort=expensive

 

[MotoGary]

$42k does not sound bad as a first offer for a 2022XLT SR. What are you hoping to get?

VisorVin shows 17 used 22 XLTs for sale nationwide. Only two are above $40k and they may be ER.

https://visor.vin/search/listings?make=Ford&model=F-150+Lightning&agnostic=false&car_type=used&year="2022"&trim=XLT&sort=expensive

You must work for Allstate! Mine is a 2023 XLT SR with 13,200 miles. They offered $39,974 prior to taxes and fees. As I said, it wasn't as low as I expected. But comparable trucks in my area with similar mileage go for $41-43K prior to taxes and dealer fees. We're close, but they need to come up a bit. I'm reasonable, but I expect them to value my truck on the high end due to: excellent condition, low miles, my loss of use, loss of 0% financing on my loan, and I declined the rental vehicle which I was entitled to (20 days which saved them about $2K).

I would have a hard time finding the same truck in my area for $42K OTD. Trucks outside of my area don't really count as a comparable truck.

Edited to add: I forgot to mention that I bought my '23 Lighting new on June 25, 2024 (exactly a year to the day before the crash). This means it has the same warranty as about half of the '24 Lightnings. This adds additional value to my 2023 that others don't have.

 

[NW Ontario Ford Lightning]

Glad to hear they are in the Ball-Park at least, hope you come to a reasonable final value with the Insurance co soon.
At least this way you are not waiting while repairs are going on, then wondering if there will be 'surprises' when you get it back - ie glitches that haunt you and send the truck back and forth to the shop etc.

Will you be getting a new Lightning?

 

[PA Lightning]

Do not know why I thought you had a 22. There are 145 2023 XLTs for sale. Did not sort by ER or SR but the range is $36k to 45K. What are you looking for as a value?

 

[MotoGary]

Do not know why I thought you had a 22. There are 145 2023 XLTs for sale. Did not sort by ER or SR but the range is $36k to 45K. What are you looking for as a value?

I'm open to your suggestion. What would you settle for if you were me?

 

[MotoGary]

Will you be getting a new Lightning?

That's the question of the day....I'm honestly very conflicted about it. I've loved my Lightning, but I'll admit that I'm considering going back to an ICE truck. At this moment I'm undecided.

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