Interesting information from my local body shop.

[w turner]

A month or so ago a hailstorm came thru our area and my wife's car (2007 Hyundai Sonata) got pretty beat up by it.  The body shop counted 34 strikes to the hood, trunk, and top.  The body shop I use is a one man shop that does great work and I absolutely trust the guy. 

    While he and I were talking about the work to be done, he said something interesting.  He said that he hated to send business away, but that he wouldn't bother fixing it if it were him.  I asked why and he said that the hit on the value of the car from being repaired (which is going to include replacement of the hood and trunk lid plus paint work) will be as much as the hit on the value from not repairing because the body and paint work will be reported to Carfax. 

  He basically recommended that I just take the insurance money, and apply it to the principal that I owe on it or use it for a down payment on a newer vehicle since we were planning on upgrading in a year or so. 

1- Do his comments about the value hold true? 

2- Is it legal to use money from an insurance claim in this situation for something other than the planned repairs?

Thanks,

W

[makattak]

A month or so ago a hailstorm came thru our area and my wife's car (2007 Hyundai Sonata) got pretty beat up by it.  The body shop counted 34 strikes to the hood, trunk, and top.  The body shop I use is a one man shop that does great work and I absolutely trust the guy. 

    While he and I were talking about the work to be done, he said something interesting.  He said that he hated to send business away, but that he wouldn't bother fixing it if it were him.  I asked why and he said that the hit on the value of the car from being repaired (which is going to include replacement of the hood and trunk lid plus paint work) will be as much as the hit on the value from not repairing because the body and paint work will be reported to Carfax. 

  He basically recommended that I just take the insurance money, and apply it to the principal that I owe on it or use it for a down payment on a newer vehicle since we were planning on upgrading in a year or so. 

1- Do his comments about the value hold true? 

2- Is it legal to use money from an insurance claim in this situation for something other than the planned repairs?

Thanks,

W

Cannot speak to the first question.

As to the second question, the insurance is paying you for a loss in value. Whether you apply that loss to regain value in the car or elsewhere, you are being compensated for a loss. Use the money as you see fit.

[grampster]

If you take cash and do not repair the car, the insurance company will insist that you remove the comprehensive and collision insurance.   

[Desertdog]

Try this.  Don't know if it is true or not but this eas related to me after one of those severe hail storms.  I would like to hear if it really works or not.
Wear heavy gloves or get frost bite.

I have heard that if you will get some dry ice and hold it on the flat edge of the dimple, the shrinking of the metal  will pop the dimple out.