What's my taxi cab worth?

Question

My taxi cab was hit by a drunk driver two weeks ago. My cab is a 2002 Ford Windstar with 210,000 miles on it. Blue book vale is $5000, and repairs will run at least $6000. The frame is bent the the right at the firewall, with damage to nearly all components under the hood. I kept my car in very good shape, even adding a video entertainment system.

I paid off the cab last September and it was good to operate through 2009. I don't want to have to be making payments again. What are your thoughts on my options?

The person who hit me had full coverage on a year old car. I had full coverage Through Yellow Cab group policy.

Answer 1

take out the entertainment center. sell it for scrap. the difference between what you got and what its worth, go after insurance company, and/or driver for. good luck.

Answer 2

Average retail for a vehicle with that many miles is between $2500-$4500. Taxi cab use reduces the value further. With the damage you list, your cab is totaled. If you have had major work done to the cab, be sure you let the insurance company know, so they can adjust your value.

You should also be able to claim loss of income because you were using the cab to work, and can not work without it!

Answer 3

No insurance or full coverage? Sorry but that thing is totalled. Forget about the $5000. There is no way you'll ge close to that. Sell it for salvage.

Answer 4

i own a repair shop,and its probably totaled ,,there's no doubt about that,about all it is worth now is junk price for it,,the mileage kills it as far as selling it for parts,and the few body parts you have left,,may be all that will sell good off of it,,but id try and sell it strait out to an individual,,who needed some good parts,,this way you can get something out of it,,your going to loose either way,,but this way you wont loose it all,,good luck with it,i hope this help,s.