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

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...

 

Yikes... but I wonder if the motor is going to be up for sale...

 

Or the 6-speed?

 

Sheesh... pack of hyenas...

 

Looking for a wheel deal????????

 

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.

 

Thats not what my dealer told me!

 

I was thinking vultures...

 

Hell yes!............ I'll take that trans from a junk yard

 

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.

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.

 

Someone in my area got a 6-Sp T6060 bolted up to the Modular 05+ 4.6L.

 

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??

 

I don't know the answer, but, I bet he has a hard time getting enough out of his insurance company to replace the car.

 

We had a slight bit of snow about 130 miles north of the NC/VA border. I wonder if that guy driving the GT500 got caught in the snow?

 

I saw it this past Friday afternoon. I didn't think it started to snow until the start of this week.

Also, who would drive that car with even the slightest threat of snow.

 

Go to wreckedexotics.com and look up Vipers. I would say by 2009, every single one on the road will be totaled.

 

I know this is a little off topic, but did you see the Unique Whips with the local client that had a silver viper. They modified the seat to allow him to fit in it. Then, he took Will out for a spin....unfortunately, it was literally.

That guy should not have had that car, for two reasons: 1) The car was just slightly too "cramped" for him [Note sarcasm] , and 2) he didn't know how to control his car at all.

OK, back on topic.

 

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.

 

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

 

You don't consider $15-20K over sticker way too much?