Wrecked GT500 sighting on I-95 :(
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Sorry to break some bad news, but I saw a wrecked GT500 being towed behind an Ford Super Duty today. It was going South, and I saw near the VA/NC border.
It was a coupe, Vista Blue with White stripes, and it looked like it got T-boned. Even worse, it looked like the roof shifted/caved in, meaning that it is probably totaled![Frown](https://themustangsource.com/forums/images/smilies/frown.gif)
I know it's bad news, but just thought someone would like to know. Sorry about no pics...I was going the opposite direction, so it just crossed paths for a second.
Maybe someone else on the forum saw it too...
It was a coupe, Vista Blue with White stripes, and it looked like it got T-boned. Even worse, it looked like the roof shifted/caved in, meaning that it is probably totaled
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I know it's bad news, but just thought someone would like to know. Sorry about no pics...I was going the opposite direction, so it just crossed paths for a second.
Maybe someone else on the forum saw it too...
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Sheesh... pack of hyenas...
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That sucks.
The even bigger bummer is, if the guy paid ADM, his insurance prob did not recoup it to him. So, he is out $10-30K and prob won't get another car without paying another $10k.
Maybe paying ADM isn't such a good idea afterall.
The even bigger bummer is, if the guy paid ADM, his insurance prob did not recoup it to him. So, he is out $10-30K and prob won't get another car without paying another $10k.
Maybe paying ADM isn't such a good idea afterall.
#10
Depends on how One works it out with their Ins. Co. Mine is listed as Classic Collector attached to my Roush and is covered for Replacement Value - not Market Value.
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For example, if they don't cover "market value", a $65,000 shelby ($45 + 20K market adjustment) could technically have a replacement value of up to sticker (let's say 45K for these purposes), because the insurance doesn't take into account the market.
Does this make sense??? Do they consider market adjustment for replacement cost, or is that considered market value??
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That "replacement value" is good for cars that depreciate once they come off the showroom floor, but what about cars that are getting more than sticker.
For example, if they don't cover "market value", a $65,000 shelby ($45 + 20K market adjustment) could technically have a replacement value of up to sticker (let's say 45K for these purposes), because the insurance doesn't take into account the market.
Does this make sense??? Do they consider market adjustment for replacement cost, or is that considered market value??
For example, if they don't cover "market value", a $65,000 shelby ($45 + 20K market adjustment) could technically have a replacement value of up to sticker (let's say 45K for these purposes), because the insurance doesn't take into account the market.
Does this make sense??? Do they consider market adjustment for replacement cost, or is that considered market value??
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Also, who would drive that car with even the slightest threat of snow.
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#16
Sad to hear about the wreck. Often when a new powerful car hits the Market, One hears about many accidents. Same happened with the new Vette and GT Supercar. Many of my friends have Terminators putting down much more than mine and even still, 500hp is enough to cause trouble without a moment's notice. Drive those fast cars carefully guys.
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That guy should not have had that car, for two reasons: 1) The car was just slightly too "cramped" for him
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OK, back on topic.
#18
The insurance company could care less what you paid for the car. They will pay actual cash value for the car at the time of loss. KBB for a coupe is right at 65k right now. He should be able to come close to replacing the car for that. Insurance is not limited to what you paid for the car. This is regular car insurance, State Farm in my instance, not Collector car insurance. For the GT500, regular insurance is actually a better deal than for most cars that depreciate quickly. There is no need for GAP insurance on these cars unless you paid WAY too much. There is no GAP.
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The only problem with regular insurance is that because the car is $55-65K to replace, your insurance premiums reflect that price. And, if/when the car depreciates, you get reimbursed REAL market value (not this ADM stuff). So, if a used GT500 only pulls $35K in a year, then that's what you get.
On the other hand, if you had "collector car" insurance (assuming you meet the driving qualifications, etc), you can get it insured for an agreed upon price. so, you could still have it insured for $65K. Your premiums would be higher for that much insurance, but still not as high as with regular insurance. and, even if it was higher, you still get a lot more coverage
On the other hand, if you had "collector car" insurance (assuming you meet the driving qualifications, etc), you can get it insured for an agreed upon price. so, you could still have it insured for $65K. Your premiums would be higher for that much insurance, but still not as high as with regular insurance. and, even if it was higher, you still get a lot more coverage
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