insurance value
08-15-2011, 03:58 PM
#11
Deceased
Join Date: 06-30-2010
Location: Kannapolis NC
Posts: 25,739
Let's see, going by the data sheet you have...
99,176 HHR's produced for model year 2008
1,207 were 2LT Panels
The "100" means that 100% of those 2LT's were equipped with the 2.4 engine as it was the only engine offered.
Once you get past the first line of data which is actual units produced, the rest of the data is expressed in percentages, hence 100% for 2.4 engines in 2LT models for instance.
99,176 HHR's produced for model year 2008
1,207 were 2LT Panels
The "100" means that 100% of those 2LT's were equipped with the 2.4 engine as it was the only engine offered.
Once you get past the first line of data which is actual units produced, the rest of the data is expressed in percentages, hence 100% for 2.4 engines in 2LT models for instance.
08-15-2011, 09:24 PM
#12
Platinum Member
Join Date: 01-09-2007
Location: SE USA
Posts: 15,866
Let's see, going by the data sheet you have...
99,176 HHR's produced for model year 2008
1,207 were 2LT Panels
The "100" means that 100% of those 2LT's were equipped with the 2.4 engine as it was the only engine offered.
Once you get past the first line of data which is actual units produced, the rest of the data is expressed in percentages, hence 100% for 2.4 engines in 2LT models for instance.
99,176 HHR's produced for model year 2008
1,207 were 2LT Panels
The "100" means that 100% of those 2LT's were equipped with the 2.4 engine as it was the only engine offered.
Once you get past the first line of data which is actual units produced, the rest of the data is expressed in percentages, hence 100% for 2.4 engines in 2LT models for instance.
Even tho only 266 were made with the exact options mine came with. Ins doesn't care about that, even if I do..
Good luck Catdaddy...
08-15-2011, 10:04 PM
#13
Senior Member
Join Date: 11-19-2010
Location: Springfield, Oregon
Posts: 620
I was a bit intrigued with your problem, Catdaddy - the fact that you have a loaded '08 2LT panel. By all accounts here on the forum, most of us would say yes, as an HHR, a 2LT panel would be rare. Unfortunately for you, it's not only HHR afficionados that determine their market values. The HHR is thrown together with everything, and what HHR's sell for to anybody is what determines market value. The HHR is not yet (and may never be) anywhere close to being a 'special interest' or 'collector' vehicle.
I get involved with vehicle values as a part of my job - I'm a auto insurance damage appraiser by profession.
What might be difficult for you is to actually find a similar HHR to either buy, or just to get an idea of what yours is worth. Since there are obviously many more regular 'wagon' HHR's out there than panels, it might help you to know what the value difference there is between a 'wagon' HHR and a panel, assuming everything else is the same.
I took a Durham, NC zip code (27703 to be exact), then did two Kelley Blue Book evaluations - everything being identical (2.4 engine, 175,000 mileage, fully loaded, etc...) , except one was a LT panel, and the other was a LT wagon (Kelley doesn't classify the 2LT as a separate model - you have to 'option it up' basically...) I got a Private Party value of $7,710 for the wagon, and $7,785 for the panel. So there you go - Kelley Blue Book says the panel is worth around $75 more (for a 2008)
== So with this information, you can use 'regular' HHR's in a market survey and just make an 'adjustment' for them not being a panel. For example, if regular HHR wagon 'A' was selling for $8,000, if it was a panel, it should sell for $8,075.
Hope this helps.
Marshall
I get involved with vehicle values as a part of my job - I'm a auto insurance damage appraiser by profession.
What might be difficult for you is to actually find a similar HHR to either buy, or just to get an idea of what yours is worth. Since there are obviously many more regular 'wagon' HHR's out there than panels, it might help you to know what the value difference there is between a 'wagon' HHR and a panel, assuming everything else is the same.
I took a Durham, NC zip code (27703 to be exact), then did two Kelley Blue Book evaluations - everything being identical (2.4 engine, 175,000 mileage, fully loaded, etc...) , except one was a LT panel, and the other was a LT wagon (Kelley doesn't classify the 2LT as a separate model - you have to 'option it up' basically...) I got a Private Party value of $7,710 for the wagon, and $7,785 for the panel. So there you go - Kelley Blue Book says the panel is worth around $75 more (for a 2008)
== So with this information, you can use 'regular' HHR's in a market survey and just make an 'adjustment' for them not being a panel. For example, if regular HHR wagon 'A' was selling for $8,000, if it was a panel, it should sell for $8,075.
Hope this helps.
Marshall
.
08-16-2011, 02:58 AM
#16
Rest In Peace
Join Date: 06-13-2010
Location: IL.
Posts: 2,301
You havent said, or I missed it, but what Insurance company do you have?
Unfortunately our little HHR's aren't worth much in resale value.
I also have a 2008 2LT Panel with a 2.4 Automatic.
I LOVE it, but that won't UP it's value any.
Unless you ADD a Seperate Insurance Rider to your Policy.
I have kept a seperate rider on my vintage car and it is based on the Value set by a certified appraiser.
Pics are taken and placed on file with the insurance carrier, if it's stolen, totalled, catches fire, or whatever, I will get what my seperate rider policy is valued at.
I'm not sure, but I bet if someone wanted, they Could get a similar rider on an HHR, not so sure it would be worth it though.
But on a car that is 56 years old and still a highly Collectable, it's worth the added expense, you can't just run to a dealer near you and buy another one, as easily as you can an HHR thats only 3 years old.
Even torn down getting a full complete restoration once again, I carry that Rider in case the garage burned down, or it got stolen or anything really.
Buying my HHR last year, I Wanted a brand spanking New one for myself, but as I was looking and researching, I knew they had basically No resale value on the open market. Unless you get Real Lucky and find someone Looking for Exactly what your HHR is and WANTS it Badly.
I bought mine for about 1/2 the cost of buying it brand new.
Had 19,000 miles on her and was first bought in mid 2009 by the Original owner.
Imagine how He felt after just 1 year of owning it getting Less than Half of what they sold for.
It was just a better option for me to buy this one used over buying one New.
I Saved a ton of cash up front, paid it off in 8 Months and had plenty of room to splurge on things I wanted to add to it. And still be way ahead, Unless it's Totalled, then I Loose like everyone else. Just not as much, because of buying it used to begin with.
I plan on Keeping it a Long time, otherwise I would not have gutted my interior and added all the sound proofing that I have added. (Dynomat stuff) Regular insurance won't add that in to a total loss claim.
Depending on the amount of damage, I would try to buy it back and repair it myself. I am a former body & fender man I even have a small 20 ton air/hydraulic rammed frame puller still. OLD, but still works, was OLD when I bought it 20 years ago.
Unfortunately our little HHR's aren't worth much in resale value.
I also have a 2008 2LT Panel with a 2.4 Automatic.
I LOVE it, but that won't UP it's value any.
Unless you ADD a Seperate Insurance Rider to your Policy.
I have kept a seperate rider on my vintage car and it is based on the Value set by a certified appraiser.
Pics are taken and placed on file with the insurance carrier, if it's stolen, totalled, catches fire, or whatever, I will get what my seperate rider policy is valued at.
I'm not sure, but I bet if someone wanted, they Could get a similar rider on an HHR, not so sure it would be worth it though.
But on a car that is 56 years old and still a highly Collectable, it's worth the added expense, you can't just run to a dealer near you and buy another one, as easily as you can an HHR thats only 3 years old.
Even torn down getting a full complete restoration once again, I carry that Rider in case the garage burned down, or it got stolen or anything really.
Buying my HHR last year, I Wanted a brand spanking New one for myself, but as I was looking and researching, I knew they had basically No resale value on the open market. Unless you get Real Lucky and find someone Looking for Exactly what your HHR is and WANTS it Badly.
I bought mine for about 1/2 the cost of buying it brand new.
Had 19,000 miles on her and was first bought in mid 2009 by the Original owner.
Imagine how He felt after just 1 year of owning it getting Less than Half of what they sold for.
It was just a better option for me to buy this one used over buying one New.
I Saved a ton of cash up front, paid it off in 8 Months and had plenty of room to splurge on things I wanted to add to it. And still be way ahead, Unless it's Totalled, then I Loose like everyone else. Just not as much, because of buying it used to begin with.
I plan on Keeping it a Long time, otherwise I would not have gutted my interior and added all the sound proofing that I have added. (Dynomat stuff) Regular insurance won't add that in to a total loss claim.
Depending on the amount of damage, I would try to buy it back and repair it myself. I am a former body & fender man I even have a small 20 ton air/hydraulic rammed frame puller still. OLD, but still works, was OLD when I bought it 20 years ago.
08-16-2011, 06:07 AM
#17
Senior Member
Join Date: 03-22-2010
Location: Russia Ekaterinburg
Posts: 2,009
843de said true words - the market value and cost of repair is rarely close to each other. Moreover, the market value and appraised value for insurance purposes also differ. I say this as an insurer and this principle works in the world. Adding that the assessment of the damaged vehicle takes into account the cost remains usable parts.
But! The fundamental principle of insurance - reimbursement of actual damages. Thus, you should document to prove the market value of the car - complete analog of Owned you HHR 2008 175 000 miles. Featured this - evaluation of an independent appraiser. Perhaps the U.S. is not expensive. Estimates the value of the intact analog in the place of insurance at the time of the accident.
But! The fundamental principle of insurance - reimbursement of actual damages. Thus, you should document to prove the market value of the car - complete analog of Owned you HHR 2008 175 000 miles. Featured this - evaluation of an independent appraiser. Perhaps the U.S. is not expensive. Estimates the value of the intact analog in the place of insurance at the time of the accident.
08-16-2011, 09:38 AM
#18
Senior Member
Join Date: 01-10-2008
Location: NJ
Posts: 681
Edmund's put the value, all options & miles included at about $12,400 for private sale, $3400 added for options, $1800 deducted for mileage.
In reality, you'ld be lucky to get $7000 regardless of rarity. It's not that rare, and the resale values on HHR's is pitiful.
In reality, you'ld be lucky to get $7000 regardless of rarity. It's not that rare, and the resale values on HHR's is pitiful.
08-17-2011, 11:05 AM
#19
Senior Member
Join Date: 02-26-2010
Location: San Mateo, CA
Posts: 109
Here's a prior post I made on a similar subject. This is how it works...
The insurance company owes you the current market value of your car in your geographical area. You want to look for similar cars for sale in your area. Remember the market value is the price sellers will take for the vehicle not the asking price. Differences in condition, options, mileage from your vehicle will either add or subtract from the value of the sample vehicle. Most carriers use a company called CCC that searches out comparison vehicles the carriers use to establish the market value of your car. Ask for this report when they make a settlement offer. Go over it carefully to make sure they reviewed your car accurately. Research craigs list, cars.com, autotrader etc. to find similar vehicles and determine if the carrier's offer is in the ball park and acceptable. If the offer's low, send examples of cars you found and demand that they up their offer or find a vehicle for you at their settlement offer. This is where it gets state specific regarding the carrier's obligation to you when settling total loss claims. Look on your state's department of insurance website and search for your state's fair claims practice regulations to figure this out or give them a call. As a last resort you can file a claim with your carrier to see if you get a better offer. Sometimes you'll have extra rights as a 1st party insured with your insurance comopany vs. a 3rd party claimant with the adverse carrier. Get your homework done now because the carrier will cut you off from your rental car shortly after they make an offer whether you accept it or not.
*Note, the above scenario pertains to a 3rd party liability claim but the info is still relevant to 1st party claims.
The insurance company owes you the current market value of your car in your geographical area. You want to look for similar cars for sale in your area. Remember the market value is the price sellers will take for the vehicle not the asking price. Differences in condition, options, mileage from your vehicle will either add or subtract from the value of the sample vehicle. Most carriers use a company called CCC that searches out comparison vehicles the carriers use to establish the market value of your car. Ask for this report when they make a settlement offer. Go over it carefully to make sure they reviewed your car accurately. Research craigs list, cars.com, autotrader etc. to find similar vehicles and determine if the carrier's offer is in the ball park and acceptable. If the offer's low, send examples of cars you found and demand that they up their offer or find a vehicle for you at their settlement offer. This is where it gets state specific regarding the carrier's obligation to you when settling total loss claims. Look on your state's department of insurance website and search for your state's fair claims practice regulations to figure this out or give them a call. As a last resort you can file a claim with your carrier to see if you get a better offer. Sometimes you'll have extra rights as a 1st party insured with your insurance comopany vs. a 3rd party claimant with the adverse carrier. Get your homework done now because the carrier will cut you off from your rental car shortly after they make an offer whether you accept it or not.
*Note, the above scenario pertains to a 3rd party liability claim but the info is still relevant to 1st party claims.
Last edited by pstar; 08-17-2011 at 12:03 PM. Reason: clarification
08-17-2011, 11:39 AM
#20
Senior Member
Join Date: 09-11-2007
Location: Palm Bay, Florida
Posts: 1,378
Unless you have collectors car insurance, the insurance company looks at the year of the car and its "blue book value". With 175,000 miles on the car, it is a car with its engine at the end of its life expectancy and unless it was rebuilt recently.
I have a 25 year old car that has 135,000 miles on it that has had thousands spent on it to keep it as good as new. I have collector's car insurance on it for $5k other wise an insurance co. would give me $500 for an old car.
I have a 25 year old car that has 135,000 miles on it that has had thousands spent on it to keep it as good as new. I have collector's car insurance on it for $5k other wise an insurance co. would give me $500 for an old car.