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Discussion Starter #1
On July 2nd my 2012 Volt saved my daughter and I. I was going 55 on a state road in the left lane when this 20-something woman in a Jeep Compass decided to try to cross both lanes directly in-front of me. I had about twelve feet between her vehicle and my Volt when I slammed on the brakes, skidded and t-boned her. All front airbags including knee bags deployed. OnStar Emergency Services immediately came on. Both my 17 year old daughter and I walked away from the crash. I think if I was in any other, especially smaller, vehicle I would have been killed instantly. The Volt absorbed so much of the energy that both my daughter and I were stopped by the seatbelts alone and we never hit the airbags. Kudos to GM for making an incredibly SAFE car!!!!!!! My Volt was bought new so I'm way under water on it so when the insurance company gives me the depreciated value payoff I'm still going to owe something like $19K on the car.

My wife and I are looking at our budget and figuring that even with the money from the insurance company we're still going to owe something like $15-$19K on the car. So I've been shopping for cheap Electric Vehicles (EVs), mainly used Nissan Leafs or used Mitsubishi I-MiEVs. I also thought that since this crash is going to leave me $19K in the hole I'd start this gofundme page to see if anyone would consider helping me get back into an EV. I'm 54 and a 30-year US Army Civilian employee, my son is enlisted and has served all over the world and my wife has also worked for the Army for over 15 years, so we've dedicated our lives to making sure the Soldier has the very best, tested, equipment that we can provide. So, being an Army Civilian I don't make a ton of money and I'm now paying for my 17.5 year old daughter's college and an apartment she is sharing so funds are super-tight.. I don't know how this will all play out but this morning I went to walk the dog and passed by my empty garage and just felt bad..you know?

I'm also a Diabetic and had to have my right lung removed last year due to an unknown tissue growth on the back of the lung (and I'm a non-smoker!). I only mention these things to say that it's not like I'm in any kind of shape to get a second job to pay for a car.

We're now contemplating getting the cheapest EV we can find, your help would be greatly appreciated. I'd also like to add that a car is just a machine,we're most grateful to God that my daughter and I were able to walk away from such a serious crash so we've been given a second chance at life which is something you can't put a dollar value on!!!!

GoFundMe Page: http://www.gofundme.com/yk4kxs


Respectfully submitted,

Chris R.
 

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Hello Chris, Sorry to hear about your accident but Glad to hear you and your daughter are okay, and yes thank God that GM built this car right. The car may not be totaled and you may get it back as good as new. Good Luck to you and your Family.
 

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I don't see why you will be out 19K, you should have half of the car paid off by now and the insurance payout from the at fault driver would cover what remains. You can go out and get a great used 2012 for less than what the insurance payoff will be and you will be exactly where you were before the accident.

And why on earth would go get "the cheapest EV we can find" after the Volt saved you and your daughter life? I'd think you would buy ONLY another Volt.
 

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First and most important you and your family walked away from a bad accident, second the Volt absorbed the brunt of the impact, third before writing off your Volt suggest you let your insurance company work with their authorized repair facilities and see how bad the damage actually is and the cost.

You may be surprised on the actual repair costs, so good luck and let us know what your insurance company determines.
 

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Glad you and your kid are OK!:eek:


Wish you luck on the gofundme.com donations. In the future, may I suggest you consider gap insurance than can be purchased online for less than $200 to prevent being underwater on your next Volt!?:confused:
Unless MD is one of those states with dumb insurance laws, if the accident was the other party's fault then they don't need gap insurance because the other party's insurance company (and possibly the other party) will be paying out whatever is needed to put the OP in the same (or better) financial position they were in before the accident.
 

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Glad to see the car did its job protecting you.

In NJ and most other states, if the car is repairable, your insurance company pays for the repairs, minus the deductible then goes after the other driver's insurance company and gets their money back along with your deductible.
 

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Discussion Starter #8
Why I'm under water

Henry: I bought my 2012 for $42K before GM lowered the price by $10K so as an "early adopter" I got royally screwed. As you know the current trade-in value is only $14,500 (check Kelley Blue Book if you don't believe me). My Volt loan still has about $25K outstanding so I'm way under water on this. If Progressive gives me the $14,500 then I'm still going to owe the bank over $10,000. Yes, I would LOVE another Volt but given the fact that what I will get for my 2012 will leave me over $10,000 in the hole, well, I'm looking at vehicles selling for $10,000 or less which leaves me in the used Nissan Leaf or Mitsubishi i-MiEV.
 

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Discussion Starter #9
I seriously doubt that anyone in my area has been certified to fix a Volt.. the electrical system was damaged as was the battery cooling system. Just after the crash I tried shutting down the vehicle, it would not shut down, despite 2 or 3 attempts. A day later I went to the junkyard to get the plates off the Volt and it sensed that I had the keyfob with me so it started itself on it's own. I always tell my friends that driving a Volt is like "driving your laptop" and I think these days as soon as there is an electrical system/logic function melt-down they just declare it totaled because the actual cash trade-in value is only $14.5K and someone told me that they go by some percentage, meaning if it cost more than 25% of the actual cash value to fix then they just total it.
 

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Discussion Starter #10
I have "loan/lease payoff protection" through Progressive. I assumed that this was/is the same as gap, it is not. What Progressive states is that with that coverage they will pay up to 25% of the actual cash vehicle toward any outstanding loan or lease, so I'm still screwed even with the "semi-gap"...
 

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I am glad to hear that everyone is okay. The accident was in the sweet spot for a car so I think you would have walked away in pretty much any modern car.

I do not know about Maryland laws but the other driver should be found at fault. Also if your insurance company leaves you with a bill I would suggest shopping around for a better insurance company.
 

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Henry: I bought my 2012 for $42K ... If Progressive gives me the $14,500 then I'm still going to owe the bank over $10,000
We're all very happy that you are both fine.

As for the financials, don't take the money and require that they replace the car, rather than refund money. Then you'll still have a Volt of the same age/mileage, or better. OK, disappointingly it won't be the one you have always owned, but you were already under water, the accident shouldn't make that worse.

Looks repairable to me.....
 

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Discussion Starter #13
The electrical system was damaged as was the battery cooling system and probably the front suspension and steering. Not everything is superficial, there's a lot going on, or not going on, under that hood!
 

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Glad to hear everyone is ok. I'm not an expert, but the car doesn't appear totaled to me. Since you are thankful the car absorbed the impact and saved your life, I'm really surprised you are considering an MIEV given how tiny and fragile that vehicle looks. Seriously, don't go for the cheapest vehicle replacement. Even if someone gave me a free MIEV, I would refuse it for safety concerns. I would pay anything for my family's life and safety. That is why I put my foot down when my daughter was considering a chevy spark. I insisted on a more substantial car with a higher safety rating.
 

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I'm not an expert, but the car doesn't appear totaled to me.
What constitutes a total isn't something I can know. It doesn't appear to have any structural damage, considering that externally it doesn't appear that the collision penetrated any structural areas - much. There is the shattered windshield. It might not be that hard to fix, but it might be too expensive from the insurance POV. I'd ask if I could pay the difference and fix the car. llninja has a strong point about how safe the Volt is.

I'd also be looking at having the woman who crossed into you blamed for the collision. A lot would change and you have a witness.
 

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I have "loan/lease payoff protection" through Progressive. I assumed that this was/is the same as gap, it is not. What Progressive states is that with that coverage they will pay up to 25% of the actual cash vehicle toward any outstanding loan or lease, so I'm still screwed even with the "semi-gap"...
Good that everyone is ok . You really still owe $25,000 ? Your payment must be very high .
 

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Glad to hear you are ok. Being a semi retired adjuster from the photos the car does not look totaled. If it is your insurance or the other party ins. Owes you the ACV or actual cash value in other words the market value not wholesale or trade in. Without looking I would say the ACV is somewhere in the 18000 range depending on miles and options. Check out cars.com for a comparable car. The company does not owe you your pay off only the value of the car.
 

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Henry: I bought my 2012 for $42K before GM lowered the price by $10K so as an "early adopter" I got royally screwed. As you know the current trade-in value is only $14,500 (check Kelley Blue Book if you don't believe me).
FMV for insurance is retail, not wholesale and I did look it up, a Base Volt with 32K miles is 19.3K. Then you get 25% of that on top 4,875 for ~24175. Since the at fault drivers insurance is on the hook, Progressive could care less what your payout is as they just stick it to the other drivers insurance policy.

This is a gift in that you might own 1K tops to walk from the car that you can replace for 18K without any real effort ( just get one from CarMax )

To suggest your going to be out 15-19K is fraudulent from my view, at worst, your getting progressive to give you 5K towards your debt and can either get a brand new 2015 Volt for 15K less than you paid for the 2012 OR go to CarMax and get the same car for 18.5K. In either case you haven't lost anything as the gap covered your previous finical decisions.

And this is likely moot, your cars damage looks very minor, we have seen much worse here repaired.

You also have the advantage of pain and suffering due ( over the vehicles loss), I'd be shocked if the at faults driver doesn't fork over what you need on the first phone call.

Good luck, please update your post when you have the actual, not imaginary numbers
 

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Glad to hear you are ok. Being a semi retired adjuster from the photos the car does not look totaled. If it is your insurance or the other party ins. Owes you the ACV or actual cash value in other words the market value not wholesale or trade in. Without looking I would say the ACV is somewhere in the 18000 range depending on miles and options. Check out cars.com for a comparable car. The company does not owe you your pay off only the value of the car.
A lesson to be learned here, if you are upside down in a lease or a loan, an insurance total can wreak havoc on your finances. That's added risk that isn't taken into account when you are trying to finance the car. All sorts of emergencies happen in life. Having a nice savings for an emergency fund can really help out in situations like this.
 

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The first rule of insurance is to put you back in the same condition you were in before the accident. Make them show you the certified collateral statement showing where you can buy your same car as it was before the accident. Then, they have to pony up that much money to get you that car including taxes, registration, etc.

Then, you can purchase that car and continue making your payments as you did before the accident and you're not out anything extra other than not having your original car.

The important thing is no one was hurt. You can replace the car, but not a life.
 
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