M3 Salvage Title Help

[1mikebowman]

I have a slight delima. I have recently got in a fender bender with my M3. It's actually not bad but the insurance company is totalling the car. Well everyone knows that you have the option of buying the car back from the insurance company. Well this is the option I want to take and fix the car myself if I can or just sell the car for parts on ebay. Real simple. Here the delima. Well I have a lien on the car...no biggie. I'm not upside down. So i can take the $14,500 (1995 M3) and not keep the car or I can take $11,000 and keep the car. Well heres the deal, the insurance company says they will not issue a check until they recieve the title. Well I can't get the title until I pay the car off. I need the insurance check to pay the car off. So the insurance company is tell me that I must come up with $11,000 out of my pocket, pay off the loan, and send the title in myself. Personally, I think something fishy is going on here. I pay the insurance to offer a service, so why am I being forced to do the insurance companies job and the loan companies job? Something just doesn't seem right. I think the insurance company wants my car becuase they know how much they can get on the black market for it, which is the reason why i want it. it's my car. If anybody has delt with a salvage title to any vehicle can you tell me if this sounds normal to you. I'm kinda at a loss about this and I don't want to lose my car. They said i can just take the $14,500 and pay $250.00 and sign up for the auction that the car is going to be at and try to bid for my car back. I'm not about to let some Joe Shmo outbid me for my own car. The insurance company has given me the option to buy the car back without dealing with the auction process but are making it impossible for that to happen. I've had to call a lawyer about this and I hope something can get resolved. Can anyone help me out in this???

[Superduty350V10]

hey man i emailed you let me know what you think

[Superduty350V10]

i pmmed you

Originally Posted by 1mikebowman

I have a slight delima. I have recently got in a fender bender with my M3. It's actually not bad but the insurance company is totalling the car. Well everyone knows that you have the option of buying the car back from the insurance company. Well this is the option I want to take and fix the car myself if I can or just sell the car for parts on ebay. Real simple. Here the delima. Well I have a lien on the car...no biggie. I'm not upside down. So i can take the $14,500 (1995 M3) and not keep the car or I can take $11,000 and keep the car. Well heres the deal, the insurance company says they will not issue a check until they recieve the title. Well I can't get the title until I pay the car off. I need the insurance check to pay the car off. So the insurance company is tell me that I must come up with $11,000 out of my pocket, pay off the loan, and send the title in myself. Personally, I think something fishy is going on here. I pay the insurance to offer a service, so why am I being forced to do the insurance companies job and the loan companies job? Something just doesn't seem right. I think the insurance company wants my car becuase they know how much they can get on the black market for it, which is the reason why i want it. it's my car. If anybody has delt with a salvage title to any vehicle can you tell me if this sounds normal to you. I'm kinda at a loss about this and I don't want to lose my car. They said i can just take the $14,500 and pay $250.00 and sign up for the auction that the car is going to be at and try to bid for my car back. I'm not about to let some Joe Shmo outbid me for my own car. The insurance company has given me the option to buy the car back without dealing with the auction process but are making it impossible for that to happen. I've had to call a lawyer about this and I hope something can get resolved. Can anyone help me out in this???

[1mikebowman]

Thanks for the help. I actually found out that AIG was trying to scam me out of my car! I went over both managers heads and went to the regional manger, expained my case, and she said she would get back to me in a few hours. Well she didn't get back to me, she made the guy that was trying to scam me, call me back and aoplogize for everything. Come to find out that, I'm assuming now, that the claim worker had an "in" at the salvage yard where they had my car. They were going to pick the car and sell it on ebay or some place else for double if not triple the cost. To recoupe what they lost of course. Well when the guy called me back, his tone changed, very apologitic and said he has never had a case like this in 17 years of doing insurance claims. Needless to say I called him a liar and informed him I did mass amounts of research to see what cars get scammed the most and BMW's were in the top ten. Go figure right! I knew my car damage wasnt that bad. They just delt with the wrong guy this time. But I wanted to let everyone know that it was AIG doing this. Other than that I've had nothing but good things to say about AIG until then. I think it was just the car they wanted really bad. Can you blame them?