Accident insurance / Tax Rebate Question after totaling car

[xiaodiandian]

Hi Everyone- First time on the boards... maybe the last too unfortunately. :-(

Yesterday, my 6-month-old Leaf was rear-ended. Today I learned from Geico it is probably totaled. Fortunately, I seem to be OK, but am worried that I may take a huge loss on what is essentially a new car.

Two questions:
1) For those of you who have been in accidents, how much $$ have you gotten back from the insurance companies for your car?

2) Can I still claim the tax credit on the car? I will have to turn the title deed over to Geico soon, in order to get compensated for the accident.

Thanks,

G

 

[garygid]

What are they offering to give you for your car?

Replacement value?

I suspect that you get the full Federal tax credit,
assuming that you pay enough taxes.

 

[xiaodiandian]

Still waiting to hear back, but sounds like it is based on a localized value of a similar car, meaning that I won't new car price for what is essentially a new car.

Can I still claim the tax credit if I've transferred the title though?

 

[TomT]

I'm not sure about the federal tax credit and I don't know where you live, but, technically, in California, you'd have to give the state rebate back.

Still waiting to hear back, but sounds like it is based on a localized value of a similar car, meaning that I won't new car price for what is essentially a new car.
Can I still claim the tax credit if I've transferred the title though?

 

[johnrhansen]

The burning question I have is do you like your leaf enough to get another one? Then you can stay here! My insurance company offers replacement coverage for a little bit more money, and I took it. I'll probably take it off next year though because I wouldn't get a new car then. My company offers to replace my car with a 2013 with this coverage. So far though my car has never touched another. Not even a door ding!

 

[xiaodiandian]

I would love to get another Leaf. My worry is I won't be able to afford it if I don't get enough money for a full replacement or if I don't get the tax credit.

TomT, I do live in California. Technicalities aside, do you think they catch it if I've transferred the title to Geico?

Hey, another question. After I was hit, I couldn't shift the car into drive. It seemed the car went into some kind of crash mode. Does anyone know how to switch that off?

Thanks everyone for their help.

 

[planet4ever]

I would love to get another Leaf. My worry is I won't be able to afford it if I don't get enough money for a full replacement or if I don't get the tax credit.

TomT, I do live in California. Technicalities aside, do you think they catch it if I've transferred the title to Geico?

On the federal tax credit, you can claim it next year if you bought the car this year. It doesn't matter what happens to the car after you buy it. New car purchasers get the credit. Period. Consider NMAC - they get the credit for thousands of cars Nissan leases every year, even though they never even drive them once.

On the CA rebate, you promised that you would keep the car registered in California in your name for three years, otherwise you owe them a pro rata amount. It appears that they have a hook into the DMV so they are notified if the registration changes, but the commitment you signed was to notify them on any change in registration. I suggest you be proactive and do that. Otherwise they might not hear about it for a while, and you could end up paying late fees.

Ray

 

[QueenBee]

I suspect you'll be happy with the price they offer. Take a look at what 2013s are selling for in your area. I think you will find they are selling for more than the cost of a new one minus the federal tax and state tax credits. You'll probably be able to lease a new LEAF for what they offer you. The issue being if you bought a second one you probably will have trouble claiming two 7500 deductions.

Let us know how it goes and if the offer seems low compared to what you are seeing forsale then definitely put up a fight.

 

[RonDawg]

I would love to get another Leaf. My worry is I won't be able to afford it if I don't get enough money for a full replacement or if I don't get the tax credit.

TomT, I do live in California. Technicalities aside, do you think they catch it if I've transferred the title to Geico?

As Ray said above, you are required to notify CVRP if the car is no longer registered in your name. But if you buy or lease another qualifying EV, you might be able to negotiate them taking what you would owe them out of the rebate for the next EV.

Hey, another question. After I was hit, I couldn't shift the car into drive. It seemed the car went into some kind of crash mode. Does anyone know how to switch that off?

Nissan has engineered a safety feature into the car that if it is involved in a violent enough crash, fusible link(s) to the traction battery will be severed. These fusible links have to be replaced if they did get severed.

 

[Klayfish]

Hopefully I can assist, I work in the auto claims business.

If the car is totalled, they're going to give you what's called "actual cash value". They'll give you what the market value of your car was at the time of the accident. Any federal rebates, etc...they don't get involved in. It's whatever the market value of the car was. With the car only being 6 months old, there will be some depreciation from it's cost new, but shouldn't be a ton. So look around at the used car market, I'm sure there will be a few 2013s for sale. What are they selling for?

Are they sure the car is totalled?

Let me know if I can be of any help.

 

[greengate]

Was the party that struck you in the rear insured?

 

[TomT]

I suspect that, under the circumstances and since the car would still be in California, you'd get away with it... If it was me, I'd likely not worry about it. As was stated earlier, the Federal tax credit is not an issue.

TomT, I do live in California. Technicalities aside, do you think they catch it if I've transferred the title to Geico?

 

[toasty]

any pics? was it minor? or major damage?

 

[QueenBee]

Only 17 used 2013s at dealers on Autotrader in the whole country.

Highest Price: $28,999
Lowest Price: $21,888
Average Price: $25,501

So if you are offered the average price you can easily take that money and buy a brand new LEAF (SL as long as you negotiate and don't pay MSRP).

They'll also pay sales tax on top of the market value of the car.

 

[xiaodiandian]

Thanks everyone for your help, especially about the federal tax credit. Much appreciated.

Interesting about severing the fusible link. Makes sense, but cripples you after the accident.

Interestingly enough, the airbags didn't deploy.

Here's some photos of the accident.
https://picasaweb.google.com/117815566587230836939/Car_accident?authuser=0&authkey=Gv1sRgCLTZqdPu3pajkgE&feat=directlink" onclick="window.open(this.href);return false;

 

[TomT]

They would do no good in a rear end collision so they are designed not to deploy in such a scenario.

BTW, the damage definitely does not look like a total from the photos...

Interestingly enough, the airbags didn't deploy.

 

[RonDawg]

BTW, the damage definitely does not look like a total from the photos...

There appears to be considerable frame damage. I bet the trunk well is a few inches shorter than it used to be. It would need a whole new rear floorpan section welded in.

Combined with the Leaf's high replacement parts costs and that could have tipped the scale far enough into the "write-off" side. And from personal experience, I would not want such a car back even if it is considered repairable. I had a Honda with a similar level of damage, and despite spending a full month at the body shop it never drove the same again and had developed all sorts of rattles.

I also noticed there is front end damage, so a new front support would need to be welded in as well if that's the reason why the hood is not fully shut.

 

[planet4ever]

As Ray said above, you are required to notify CVRP if the car is no longer registered in your name. But if you buy or lease another qualifying EV, you might be able to negotiate them taking what you would owe them out of the rebate for the next EV.

Maybe, but I asked and they told me no. I had two years on my first one, so had to write a check for $1667.00 (1/3 of the original $5000 rebate) and then they sent me a check for $2500.

Ray

 

[RonDawg]

As Ray said above, you are required to notify CVRP if the car is no longer registered in your name. But if you buy or lease another qualifying EV, you might be able to negotiate them taking what you would owe them out of the rebate for the next EV.

Maybe, but I asked and they told me no. I had two years on my first one, so had to write a check for $1667.00 (1/3 of the original $5000 rebate) and then they sent me a check for $2500.

Oh that sucks.

 

[xiaodiandian]

BTW, the damage definitely does not look like a total from the photos...

There appears to be considerable frame damage. I bet the trunk well is a few inches shorter than it used to be. It would need a whole new rear floorpan section welded in.

Combined with the Leaf's high replacement parts costs and that could have tipped the scale far enough into the "write-off" side. And from personal experience, I would not want such a car back even if it is considered repairable. I had a Honda with a similar level of damage, and despite spending a full month at the body shop it never drove the same again and had developed all sorts of rattles.

I also noticed there is front end damage, so a new front support would need to be welded in as well if that's the reason why the hood is not fully shut.

I agree that it does not look like a classic total from the photos. But I think TomT is right, that the the cost of the replacement parts might make it just a write off. I'm waiting to hear back from Geico about what they will give me.

Fortunately, the other party was insured.

Thanks Klayfish for your offer to help.