u/spunky1717

I’m dealing with a situation where someone hit my parked 2014 Escape (187K miles on it) and didn’t have active insurance (and I don’t have collision or uninsured motorist coverage for myself), so we’re working it out privately.

We agreed on a settlement amount of $3,500, and they’ve proposed paying me in installments ($750/month) since they’re covering it out of pocket.

Now they’re asking that once they’ve fully paid me, I would sign over the title to my car (which is basically totaled). Their thinking is that in a normal insurance situation, the insurance company would pay out the value of the car and then keep the vehicle (or salvage it) to recover some of that money.

So essentially, they’re asking to have the car after they finish paying me, so they can try to recoup some of what they paid through salvage or parts.
I’m trying to figure out what’s fair here—whether that makes sense, or if I should instead keep the car and potentially sell it myself. Any insight appreciated!

I’m dealing with a situation where someone hit my parked 2014 Escape (187K miles on it) and didn’t have active insurance (and I don’t have collision or uninsured motorist coverage for myself), so we’re working it out privately.

We agreed on a settlement amount of $3,500, and they’ve proposed paying me in installments ($750/month) since they’re covering it out of pocket.

Now they’re asking that once they’ve fully paid me, I would sign over the title to my car (which is basically totaled). Their thinking is that in a normal insurance situation, the insurance company would pay out the value of the car and then keep the vehicle (or salvage it) to recover some of that money.

So essentially, they’re asking to have the car after they finish paying me, so they can try to recoup some of what they paid through salvage or parts.
I’m trying to figure out what’s fair here—whether that makes sense, or if I should instead keep the car and potentially sell it myself. Any insight appreciated!

I’m dealing with a situation where someone hit my parked 2014 Escape (187K miles on it) and didn’t have active insurance (and I don’t have collision or uninsured motorist coverage for myself), so we’re working it out privately.

We agreed on a settlement amount of $3,500, and they’ve proposed paying me in installments ($750/month) since they’re covering it out of pocket.

Now they’re asking that once they’ve fully paid me, I would sign over the title to my car (which is basically totaled). Their thinking is that in a normal insurance situation, the insurance company would pay out the value of the car and then keep the vehicle (or salvage it) to recover some of that money.

So essentially, they’re asking to have the car after they finish paying me, so they can try to recoup some of what they paid through salvage or parts.
I’m trying to figure out what’s fair here—whether that makes sense, or if I should instead keep the car and potentially sell it myself. Any insight appreciated!

Hi! I have a 2014 with 187K miles on it. It is definitely not in tip top shape — it recently got hit while parked and the steering is now out of whack with some damage to the driver’s side door. I know the fair market value is less than the cost of repairs, so I’m trying to determine if I should just call it a wash. Peddle said it’d give me $1,100 for it as is — I’m just wondering if there’s any way I could get some more $ for it via a route I haven’t thought of? TIA!

Hi! Seeking some insight for my situation. Some background:
I drive a 2014 Ford Escape with 187K miles on it. I was planning on driving it into the ground, until someone hit my vehicle while parked outside of my building. Thankfully, they left a note, but unfortunately, their insurance policy was lapsed. Because of the age/mileage of my car, I don’t have collision or uninsured motorist protection for myself (also to keep my rate down). My policy doesn’t cover rentals for myself, either.
I’ve gathered estimates for the repairs, higher end being $5K and lower end being $3K. I’ve spent over $1K in rentals and Ubers thus far, out of pocket. My car isn’t worth more than $2K, and same type of car with high mileage is selling for $6-8K, from what I’ve gathered online.
The person who hit me told me to gather these estimates and they’ll see what they can do. Realistically, what can I ask for? What is fair? I’m trying to gauge if I take this cash (if I get any at all) to put toward a down payment on a new vehicle, or put it toward repairs.
Thank you in advance!

Hi! Seeking some insight for my situation. Some background:
I drive a 2014 Ford Escape with 187K miles on it. I was planning on driving it into the ground, until someone hit my vehicle while parked outside of my building. Thankfully, they left a note, but unfortunately, their insurance policy was lapsed. Because of the age/mileage of my car, I don’t have collision or uninsured motorist protection for myself (also to keep my rate down). My policy doesn’t cover rentals for myself, either.
I’ve gathered estimates for the repairs, higher end being $5K and lower end being $3K. I’ve spent over $1K in rentals and Ubers thus far, out of pocket. My car isn’t worth more than $2K, and same type of car with high mileage is selling for $6-8K, from what I’ve gathered online.
The person who hit me told me to gather these estimates and they’ll see what they can do. Realistically, what can I ask for? What is fair? I’m trying to gauge if I take this cash (if I get any at all) to put toward a down payment on a new vehicle, or put it toward repairs.
Thank you in advance!

Hi! Seeking some insight for my situation. Some background:
I drive a 2014 Ford Escape with 187K miles on it. I was planning on driving it into the ground, until someone hit my vehicle while parked outside of my building. Thankfully, they left a note, but unfortunately, their insurance policy was lapsed. Because of the age/mileage of my car, I don’t have collision or uninsured motorist protection for myself (also to keep my rate down). My policy doesn’t cover rentals for myself, either.
I’ve gathered estimates for the repairs, higher end being $5K and lower end being $3K. I’ve spent over $1K in rentals and Ubers thus far, out of pocket. My car isn’t worth more than $2K, and same type of car with high mileage is selling for $6-8K, from what I’ve gathered online.
The person who hit me told me to gather these estimates and they’ll see what they can do. Realistically, what can I ask for? What is fair? I’m trying to gauge if I take this cash (if I get any at all) to put toward a down payment on a new vehicle, or put it toward repairs.
Thank you in advance!
Location: Denver, CO