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A friend crashed my car. How much should I ask for the damage?

The fair market value is what the market was willing to pay for it.

You appear to have set that price at $1500.

:thumbdown
 
If the car is drivable and safe just ugly, your friend wasn't hurt and he wasn't driving like an idiot. Don't ask him for anything.

If he was drunk, high, ran a red light, was playing chicken with a lady crossing the street and lost.... then maybe ask for 1,000... something to get you into another car, you paid $1500, but you also drove it around, so it's not like you didnt get $500 worth out of it.

If it was completely accidental- his fault or not, and he apologized... just ask for $500 or something reasonable to HELP you get another vehicle... You were doing a favor and being a friend by letting him borrow your car. There was risk associated with that, and you were willing to do it.

you got the car for 1500 for goodness sakes. Doesn't matter what the repair quote was, or what its "market value" is... you're "friends" and should not take advantage of each other... Besides, If the market value was $2200 2 years ago and you got it for $1500... then its current value is probably $1500 and you could sell it for $800.
 
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If that was a true friend, he'd already have paid you what it was worth, or fixed it, or replaced it. Whichever you wanted. He wouldn't need to be asked to do it. If he can't afford to fix it, he shouldn't have borrowed it.
 
might have seemed like something to ask total strangers, but in reality, it's a question only friends can answer between themselves. talk to your friend. as a friend.
 
cyrusyn said:
DaveT// I can't any other websites other than work related at my work. So no barfing for me while I am at work.

You are right. The $7000 was the repair estimate. Sorry for the misinformation.

The fair market value for 91 740 turbo right now is between $2200 and $2400 and I got this car two years ago for $1500.

The guy don't have an insurance. I have asked him for $1900.
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Really? You think that would even hold up in small claims court? You bought it for $1,500. Then you have to depreciate that amount by the use you had over the last two years. It seems to me you might be looking at $1,000 to $1,200 range. I've watched Judge Alex and Judge Judy and whatnot. I know this shit.:laughing
 
bojangle said:
Really? You think that would even hold up in small claims court? You bought it for $1,500. Then you have to depreciate that amount by the use you had over the last two years. It seems to me you might be looking at $1,000 to $1,200 range. I've watched Judge Alex and Judge Judy and whatnot. I know this shit.:laughing
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if fair market value can be shown to be higher than $1500, it's reasonable to make a claim for the higher amount. i have no idea if this is legally what will happen, but it's reasonable imo (that is getting paid enough to replace the car)

just because he bought at a lower price, doesn't mean that's all he's entitled to.

of course, this assumes fmv is higher than $1500 which is questionable considering the source.
 
I think the only fair thing to do would be for them to purchase you a brand new Audi A8. I mean that would be fair, right?
 
If it was a friend of mine I would turn it into my insurance and have him cover the deductible. :thumbup
 
TheRobSJ said:
Hell yeah we'll thread jack. What it is?
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It is a 2005 X5 4.4 black on black :toothless

yeah I know, another potential money pit. But, I did get a ppi from billswim before I bought it, and he gave it a thumbs up. Said if the Audi was a 4/10 when he first saw it, the BMW is 8/10

Long story but the dealership where I got the Audi changed hands. I called them and explained the situation with the Audi. The general manager agreed to meet with me same day. Drove down there with all my receipts and whatnot and he said "I'll make you happy"

Looked around the lot, test drove this that and the other and said "nope, no personality" He said "come over here, I know this will be it" I saw the car and went :teeth

Got the ppi, went back and told GM we are miles off on the price. Tell you what, I'll give you X and you take the Audi as well, I am not gonna haggle over this price and that price, or the wobbly mirror and whatnot. He agreed, we shook hands and now I have the beemer

it is in really really really good shape, so I am happy :) hella heavy to drive though compared to the Audi :wow
 
corndog67 said:
If that was a true friend, he'd already have paid you what it was worth, or fixed it, or replaced it. Whichever you wanted. He wouldn't need to be asked to do it. If he can't afford to fix it, he shouldn't have borrowed it.
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Truth. You break it, you bought it.

mike23w said:
if fair market value can be shown to be higher than $1500, it's reasonable to make a claim for the higher amount. i have no idea if this is legally what will happen, but it's reasonable imo (that is getting paid enough to replace the car)
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Absolutely. Replacement value is all that matters here. Whether he paid 10k for it, or won it in a sweepstakes makes no difference.
 
It seems wrong to charge his friend higher than what he paid for the car, but on the flipside.. he got a deal on the car. If you received a gift for FREE, and someone broke it. Would you charge him nothing because it was free?

Now back to my first comment, however, it's his FRIEND. So if his friendship means anything, then I would charge half. 50% from his friend because he crashed the car, 50% from him because he didn't have insurance.

Again, my :2cents :)
 
For everyone mentioning insurance... does anyone here really think it's a good idea to carry full coverage on a 20+ year old $1500-2000 car? It wouldn't take long for the cost of coverage to exceed the value of the car.
 
Junkie said:
For everyone mentioning insurance... does anyone here really think it's a good idea to carry full coverage on a 20+ year old $1500-2000 car? It wouldn't take long for the cost of coverage to exceed the value of the car.
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I'm pretty sure full coverage insurance on a car that old wouldn't be much more than just liability. If I had to take a guess, it would be no more than say $15-20 more per month IF that. Of course, this is given if you have a clean driving record.
 
corndog67 said:
If that was a true friend, he'd already have paid you what it was worth, or fixed it, or replaced it. Whichever you wanted. He wouldn't need to be asked to do it. If he can't afford to fix it, he shouldn't have borrowed it.
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I think of it the other way around. "If he can't afford to fix it/insure it, then he shouldn't have let the other person borrow it."

When you let someone borrow your things, you accept a certain risk. In my opinion, to put ALL the blame on the borrower is wrong.
 
I found a one year newer 740 Turbo for $1,500 in Berkeley; have him buy that.

It seems you are trying to make money off of your "friend" in this unfortunate situation.
 
jh2586 said:
I think of it the other way around. "If he can't afford to fix it/insure it, then he shouldn't have let the other person borrow it."

When you let someone borrow your things, you accept a certain risk. In my opinion, to put ALL the blame on the borrower is wrong.
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AGREED 100%.
 
Junkie said:
For everyone mentioning insurance... does anyone here really think it's a good idea to carry full coverage on a 20+ year old $1500-2000 car? It wouldn't take long for the cost of coverage to exceed the value of the car.
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Depends on your age and driving habits.

As a mid 30s married dude with a clean record, full coverage on my truck was about $400/yr. Going to liability only would have been a bit under half that, but there's really no point -- since I don't intend on selling it, this is a no brainer. The glass coverage alone is worth it around here.

I've since added the wife's car to my policy, which is worth about an order of magnitude more and has us up to a total of $1000/yr.
 
jh2586 said:
When you let someone borrow your things, you accept a certain risk. In my opinion, to put ALL the blame on the borrower is wrong.
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Remind me never to lend you anything.

I just can't understand that attitude. If you borrow something you are responsible to return it in the condition you got it in, with the exception of normal wear and tear arising from the circumstances you borrowed it under.
 
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