ICBC Questions regarding write off

[eh^]

i have a write off claim with ICBC.

there offering to give me $5171.00 for my car
but the adjuster said they would have to take 10% off that price cause if i was to purchase a used car , i could talk down the salesman 10% of the used cars value.

Now my question is .. is the 10% off the settlement value a common practice or is ICBC trying to screw me out of acouple hundred bucks ?

[gheart008]

but the adjuster said they would have to take 10% off that price cause if i was to purchase a used car , i could talk down the salesman 10% of the used cars value.

I have never heard that before... and it sounds likea load of crap.

[eh^]

I have never heard that before... and it sounds likea load of crap.

thought so..

[euphoria18_79]

That almost sounds like if you wanted to "buy the car" back from the insurance company?

[pulsar]

The value they take for the vehicle is from a book similar to the black book but supposedly for "retail prices" (similar to the Gold Book that you can find in the libraries). If you can prove that the vehicle is worth more than what they are offering then you can negotiate with them (ie find ads etc within the last couple of months showing that the make and model of your vehicle in a similar condition to yours is asking for more money).

The ICBC price should be inclusive of tax. Thus if they say the value of the car is $5000 then they will add 7% GST to it. If you purchase your replacement vehicle at the dealer, they will add another 6% for PST. The PST will not be given to you until you purchase the car from the dealer as the dealer has to fill out a form for ICBC.