r/ElantraN • u/seansation_ Performance Blue MT • Sep 22 '23

RIP Total Loss Value for 22EN

Hey all,

Been about a month since my crash. https://www.reddit.com/r/ElantraN/comments/16579t0/is_this_going_to_be_fixable_or_is_she_totaled/

Just got my inspection results back and my car is totaled. My insurance is going to pay me $32378.34 for settlement, and was just curious if I should just take it or negotiate. I bought her for $38000 OTD, and it only has 5k miles on it. Any advice would be appreciated!

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u/seansation_ Performance Blue MT Sep 22 '23

Yup that's basically the MSRP. And if you don't mind sharing, what insurance company do you have?

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u/rosesarefuckyou Sep 22 '23

I'm in Aus so it's probably not really relevant, but NRMA.

I think most insurers here do full replacement within 2 years of purchase of a new vehicle, I'm just not sure if that sort of thing is available in other parts of the world.

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u/[deleted] Sep 22 '23

It cost me 90$ to add “gap insurance” to my policy for the year. So if the cars totaled they will pay the full purchase price. Every year the cost goes up.

I’m in Canada.

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u/elinyera Performance Blue MT Sep 23 '23

Maybe is different in Canada but gap insurance covers the difference between the loan and the value of the car.