Is it worth it to buy back my Gladiator from Insurance and sell it to recycler?

[mtngoat92081]

Hey All, it's been awhile since I've been on the forum. My JT Sport Max Tow was in a forward collision and I'm anticipating any day now the adjuster will call to say it's a total loss. The truck was driveable with no fluid leaks / warning lights and drives straight. No airbag deployment.

After my body shop guy tore it all down and measured the frame he said it is a "touch" off. Also says the passenger door drops slightly (though I couldn't tell) and some of the door gaps are slightly off.

Anyway, I know the insurance will lowball the payout and I'm ready with comparables, but I wonder if I could get even more money out of it if I buy it back and then sell it myself to a recycler. Has anyone ever done this? Is it worth it? Truck is a 2021 with about 90k on it, pristine condition inside and out other than damage from accident.

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[@californiajeeping]

Yes if the price is right. I would buy it fix it with some aftermarket parts get it straight enough and make it an off-road rig.

 

[Mr._Bill]

How much time and money do you have to invest?
Is there a loan on the truck?
Do you have GAP insurance?

Buying it back reduces your payout, so there won't be money for a replacement. You will have to pay for the repair, and then continue to drive it. Depending on your state, you may end up with a Salvage title, which makes it harder to get a decent amount of money for it.

The insurance companies usually send them out to auction after the payout. They would gladly sell it back to you because they can get more money out of it.

It may have been in excellent condition for the interior and exterior, but 90k miles in three years is not pristine condition.

Insurance is there to replace the vehicle and get you back to where you were. There's really no way to come out ahead, unless you had a new replacement option that is still active.

You'll have to wait for their response, and then make a determination based on your current circumstances.

 

[TurboChris]

I've bought two vehicles back after being totaled. One 20 years ago and one about 11 or 12 years ago. Both were purchased back for 10%-20% of the payout. This is part of the negociation BEFORE you accept the final amount. Both times I then sold the totaled vehicles for double what I paid for them netting me $3000 on one and $4000 on the other. So yes, it's worth it if you dont have to pay too much. Or if you can fix it privately for a lot less than the payout and drive it. It sounds like yours may be a candidate for that.

Good luck

 

[mtngoat92081]

Thanks for the replies... I'm still waiting for the insurance company to approve the supplemental repairs from my body shop. The original insurance estimate was only a fraction of the actual cost of repairs. It's been over a week, not sure what's taking so long.

 

[Janster]

That's a tough call....

If you buy it back - you'd probably make more $ taking it apart and parting it out. However - that takes a lot of time & effort and having a wrecked jeep sit around in your garage. You'll always have leftover parts that you can't sell and need to get rid of (frame, messed up metal,etc)

You could turn it into a Trail Rig.... however.... if you don't plan to tow it on a trailer, you'll need to make it street legal. Depending on the state you live in - it can be a royal pain in the ass to get it street legal. Here in PA .....when a vehicle is totaled, you get a SALVAGE title. If you want to make it street legal and get it registered (license plate), you have to go thru a lot of inspections & red tape to convert it to a RECONSTRUCTED TITLE.

I was in an accident in an old built YJ - I bought it back because it had a pair of Dana 44's with ARB's underneath it. So, we swapped those into a new jeep (and any other mods that I could save), parted out what I could (engine, tranny, etc). The frame & body went to a friend who used it on his buggy build.

Sorry to see your rig... I hope you weren't hurt.

 

[Spuddy]

Hey All, it's been awhile since I've been on the forum. My JT Sport Max Tow was in a forward collision and I'm anticipating any day now the adjuster will call to say it's a total loss. The truck was driveable with no fluid leaks / warning lights and drives straight. No airbag deployment.

After my body shop guy tore it all down and measured the frame he said it is a "touch" off. Also says the passenger door drops slightly (though I couldn't tell) and some of the door gaps are slightly off.

Anyway, I know the insurance will lowball the payout and I'm ready with comparables, but I wonder if I could get even more money out of it if I buy it back and then sell it myself to a recycler. Has anyone ever done this? Is it worth it? Truck is a 2021 with about 90k on it, pristine condition inside and out other than damage from accident.

If you have time and space, consider parting it out prior to sending it to the scrap yard. You may (may not) be surprised.

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