What is a good source of information to find out what excellent condition 1988 Mustang GT's sell for in California?
Good source of finding comps prices for 1988 Mustang GT
- Thread starter Mercedez
- Start date
-
Sponsors (?)
Auto Trader or eBay or KBB or NADA
Thanks! I tried e-bay and there aren't many 88's or even 87-93 Mustang GT's for sale. I don't know what NADA is?KBB is too low ball.
I will pic up a Mustang Trader and see.
Well KBB is what a bank or insurance company uses to determine value. We all know Foxes go for way more then book, hell I think a 93 Cobra only books at $6500 
I find Autotrader or Craigslist will give you a fair idea what the car is worth.
I find Autotrader or Craigslist will give you a fair idea what the car is worth.
Duncan McDougal
Active Member
Well KBB is what a bank or insurance company uses to determine value. We all know Foxes go for way more then book, hell I think a 93 Cobra only books at $6500
Not entirely correct. 'Auto-insurance companies don't use the standard Kelley Blue Book or National Association of Automobile Dealers value. Instead, each company has its own proprietary list of car values, and most have specialized software for valuing cars in each region. They take into consideration the car's mileage and pre-accident condition.'
The value of a car is usually between kbb and nada. Foxes fall in a gray area though because they are officially considered classic or collectible cars by appraisal companies ('89 and before).
My mistake. I had ment to say KBB & NADA but neglected to put NADA in there. Thanks for pointing that out.
That's the exact situation here: Insurance company comes in with low ball figure lets say it's 1,800 to 2,500 or they want to total the car (even if it still runs) when in fact you know in the condition it was before the street price would be $5,500 and up?
Hard to find a comparable model as most of these cars are chopped up, modified, and are 2,000 to 3,000 in poor condition. Seems to be almost impossible to find one that has been kept in factory condition for the last 20 years and that's if you can find any for sale.
What do you do if the insurance company will total the car but you know better that it is a keeper or don't agree with their decision?
Duncan McDougal
Active Member
"If you disagree with your insurance company's value determination, there are several things you can do:
* Next time, get "gap" insurance. It will pay the difference between what an insurer will cover and what you owe, which can be several thousand dollars.
* If the car is a collectible and garage kept, get collectors insurance. It will pay out an agreed value for the car in the event that it is totaled.
* If you have maintenance records that show you've had the oil changed every 3,000 miles and you've had the car checked routinely by a mechanic, present copies to the insurance company to show the car was in good condition. If you've been paying premiums on any special parts or upgrades, make sure those are included in the insurance company's evaluation.
* Get price quotes on replacement cars from three dealers within a reasonable driving distance and submit these to your insurance company. Ask the insurance company for a list of dealers within a specific distance who can sell you an equivalent car for the value the company is claiming.
* If you still aren't satisfied, you can step up the process and go to mediation or arbitration. Mediation involves presenting your case to a neutral party for help in reaching a compromise; arbitration is a binding decision. You can also, of course, take the issue to court. "
Got recent receipts totaling $4,000 for recent work done to car. Have most receipts and receipts as far as maintenance for the car during the last 20 year period but whether it is relevant in this situation is questionable. (a giant folder of all receipts on everything purchased for this car.)
This is in California so the arbitration would be in the area of dealing with the Dept. of Insurance another state government agency.
There are no conventional car dealers here that carry or sell this kind of car that is old but yet in cherry mint condition that you can get prices from.
Even the speciality old classic car shops currently don't have any of these for sale. Maybe one will pop up during this timely process.
Only way is through want-ads in which these cars are non-existent there. Can use Ford Trader to get highest priced cars but they are usually anywhere in the United States not local here in California.
Duncan McDougal
Active Member
strtrcr50
New Member
In my case(basically a new back bumper cover and taillights, check for tweaked frame, it wasn't, paint whole car again since I had just had it repainted), I threatened to sue them for neck and back injuries since the accident was not my fault. I tried faxing them reciepts, people selling cars in similar conditions, etc. They were stuck on the 2k number. I believe my exact quote was "I guess it's time to talk to a lawyer about any injuries that might show up later". They got a lot more reasonable after that.
In my case(basically a new back bumper cover and taillights, check for tweaked frame, it wasn't, paint whole car again since I had just had it repainted), I threatened to sue them for neck and back injuries since the accident was not my fault. I tried faxing them reciepts, people selling cars in similar conditions, etc. They were stuck on the 2k number. I believe my exact quote was "I guess it's time to talk to a lawyer about any injuries that might show up later". They got a lot more reasonable after that.
I'm doing this right now getting as many comps as possible but it is difficult on a car like this since there aren't many around in this kind of condition. Most you see for sale are modified race cars or junk for sale. This car is factory stock and not that many factory 1988 Mustang GT's around.. I understand with insurance they want to settle things fast and the best thing to do is negotiate and drag it out if you have to.
strtrcr50
New Member
I'm doing this right now getting as many comps as possible but it is difficult on a car like this since there aren't many around in this kind of condition. Most you see for sale are modified race cars or junk for sale. This car is factory stock and not that many factory 1988 Mustang GT's around.. I understand with insurance they want to settle things fast and the best thing to do is negotiate and drag it out if you have to.
They don't care. The ins co will tell you to get estimates and still come back to you with the same bull**** appraisal. If the accident was not your fault, let them know you are ready to break out the lawsuit hammer and watch how fast they decide it's cheaper to fix your car.
I agree with you but unfortunately in this state I would be at fault. I will just go throught the motions and get estimates. The insurance company does have direct service body repair shops it uses (Kickbacks-I know
) to as they say make it easier for the customer as you just take it to the shop and the appraiser there is qualified and directly hooked up to insurance company. In reality the insurance company will only allow the direct center body shops they have something in the area of charging only up to 60 or 65 per hour. Everything is done at one location depending on which shop you pick because you can still pick your own but you can bet that will be more expensive.
strtrcr50
New Member
I agree with you but unfortunately in this state I would be at fault. I will just go throught the motions and get estimates. The insurance company does have direct service body repair shops it uses (Kickbacks-I know
Too bad you are so far away. The body shop I deal with is very fox body friendly. The guy who did my car also did Duane "Big Daddy" Guthridge's car. They will work with the insurance companies as well. If you are really getting loballed, pm me pictures of your car and I'll see if I can get them to do it. It's a haul, and they will not be rushed, but they do perfect work.
Oh yeah, and they are VERY good at dealing with insurance companies.
Too bad you are so far away. The body shop I deal with is very fox body friendly. The guy who did my car also did Duane "Big Daddy" Guthridge's car. They will work with the insurance companies as well. If you are really getting loballed, pm me pictures of your car and I'll see if I can get them to do it. It's a haul, and they will not be rushed, but they do perfect work.
Oh yeah, and they are VERY good at dealing with insurance companies.
Where is this shop located? Are they a direct select service to State Farm?
Any references of shops just as good but closer to me?
strtrcr50
New Member
Where is this shop located? Are they a direct select service to State Farm?
Any references of shops just as good but closer to me?
This shop is just outside of Trenton NJ.. They deal with State Farm. I know nothing about body shops near you. The challenge is getting in around the german cars that go there. Funny thing about it is that it's a suzuki dealership with a big waiting list from bmw and mercedes owners.
Wow! now that's a bit far to go from here in San Francisco. I am afraid insurance may total car because to them it is a numbers game and 1988 is too old for them. I would rather them not total it and just fix it because other than a fender bender all mechanics are A-1. It would be a CRIME to total a car that stills runs great even though it needs some cosmetic work like on the hood, bumper and fenders.
It drives just as fine now as it did before the collision. But if they total it I wouldn't know what to do. That's what 2 body shops have told me already
They would have to offer a very large sum of $$$ for me to let it go like that and I don't think they will being the way insurance companies are realistically. At least $10,000 would sure make one feel better. My comps go from a salvage title for $4,000 up to 15,000 for a car to replace this one. It would be great if they just fixed it instead of totalling it something I can't agree to.
