My wet Roush Raptor

2014RubyRed · Dec 9, 2015

Jimbo said:
Did someone say they needed a Stage 4?

Reviewing insurance policies......lol

lesharleyroushraptor · Dec 10, 2015

The numbers are this..
I can walk away and they will payout $65,023 . Bank gets $42,500 of that because that is what I owe. I get the rest and have to go find another ride.
I can keep the truck as salvage and they will payout $49,468 . Bank still gets $42,500 of course. So, I then have my wet R Raptor with $7k or so for repairs and no truck payment.
Which way I go will rest on the results of the dealer replacing the inside fuse box. That's the $560 repair I spoke of. Hope to hear the results of this repair on Friday...

Jimbo · Dec 10, 2015

I think if you owned it free and clear, I'd buy it back. Since you don't, I'd take the check and run.

t_j · Dec 10, 2015

Not to mention you will end up with a salvage title which will kill your resale value, make it harder to sell, and possible make it more expensive to insure.

Jimbo · Dec 10, 2015

t_j said:
Not to mention you will end up with a salvage title which will kill your resale value, make it harder to sell, and possible make it more expensive to insure.

And not having a nice lump of cash to fix any unforeseen issues.

t_j · Dec 10, 2015

Jimbo said:
And not having a nice lump of cash to fix any unforeseen issues.

Yeah, guessing a salvage title would probably void both the bumper to bumper and power train warranty. The long term costs of keeping it are possibly huge, compared to running away from it.

Deleted member 12951 · Dec 10, 2015

What determines a salvage title or not?
Edit: nevermind, I wikipedia it.

Jimbo · Dec 10, 2015

RDFTS said:
What determines a salvage title or not?

When the car is declared a total loss, which his would be. You can then get a salvage title issued if you choose to repair it. After hurricanes, you'll see a ton of flood salvage cars come to market for cheap.

cbcgeneral · Dec 10, 2015

lesharleyroushraptor said:
The numbers are this..
I can walk away and they will payout $65,023 . Bank gets $42,500 of that because that is what I owe. I get the rest and have to go find another ride.
I can keep the truck as salvage and they will payout $49,468 . Bank still gets $42,500 of course. So, I then have my wet R Raptor with $7k or so for repairs and no truck payment.
Which way I go will rest on the results of the dealer replacing the inside fuse box. That's the $560 repair I spoke of. Hope to hear the results of this repair on Friday...

With what you've explained and understanding that you still owe a bit to the bank I wouldn't take a chance especially like everyone has said about your resale value taking a huge hit. I know it sucks and it's a pretty hard decision that I wouldn't want to have to make but in the long run I honestly think taking the total loss is your best option. Good luck with whatever you decide and if you wind up keeping it under the salvage title I wish yo luck that you don't have any future issues.

lesharleyroushraptor · Dec 10, 2015

Yes. A tough one for sure. If kept it the vehicle would be paid off and I'd still have 5k to work with. My inclination is to run but I gonna pay the $560 to see what Ford says and how things look after the fuse box replacement. Unless it starts up AND doesn't appear to have any other obvious issue I will take the money and run... AND WAIT until next fall for new ones...
Is that still the target date for the new raptors?

My wet Roush Raptor

2014RubyRed

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lesharleyroushraptor

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Jimbo

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t_j

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Jimbo

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t_j

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Deleted member 12951

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Jimbo

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cbcgeneral

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