T-Boned a Red Light Runner in my 5BW 😠 Adios collectible value

[revvhigh]

Well, this is the end result of a roughly 25mph front impact with a lady who ran a red light in front of me, leaving me zero time to stop.

Front and both side fenders are trashed, hood is obviously ruined, several plastic sheathing elements underneath are broken. I can't see any parts damage to the naked eye but the check engine light is on. Both passenger side doors will neither open nor fully close, which makes me worry about frame damage.

This '23 had 4k miles on it as I was keeping it low miles as a collector's item. I guess collectible value is all gone now that it's been in a wreck.

Question: Has anyone else had a wreck and tried to pursue getting insurance to pay for the reduction in collectible value?

Oh, and for what it's worth, the other driver spoke no English, had no license, and no insurance. The police gave her some citations but were not interested in any questions about immigration status and sent her on her way.

 

[doublethebass]

Well, this is the end result of a roughly 25mph front impact with a lady who ran a red light in front of me, leaving me zero time to stop.

Front and both side fenders are trashed, hood is obviously ruined, several plastic sheathing elements underneath are broken. I can't see any parts damage to the naked eye but the check engine light is on. Both passenger side doors will neither open nor fully close, which makes me worry about frame damage.

This '23 had 4k miles on it as I was keeping it low miles as a collector's item. I guess collectible value is all gone now that it's been in a wreck.

Question: Has anyone else had a wreck and tried to pursue getting insurance to pay for the reduction in collectible value?

Oh, and for what it's worth, the other driver spoke no English, had no license, and no insurance. The police gave her some citations but were not interested in any questions about immigration status and sent her on her way.

bummer dude - hope you're ok. Go to a doc just for checkup.

 

[Atemoya]

So sorry to hear that. Shouldn't that woman be in jail right now??? WTF.

 

[rdollie]

Wow, glad you're OK though. That's the most important part. FWIW, I don't think these cars are going to be that collectible. There's over 10k of them in the road and growing and with EV-only focus waning, it's only a matter of time before GM announces a hybrid or maybe even ICE (I can dream, right) replacement. That's why I'm driving mine into the ground (have almost 48k miles) and enjoying it daily. If you bury a Blackwing in a time capsule I'm sure it will grow in value but it won't come close to the long-term growth of a tech index fund or even a Dow30 mix.

 

[revvhigh]

Wow, glad you're OK though. That's the most important part. FWIW, I don't think these cars are going to be that collectible. There's over 10k of them in the road and growing and with EV-only focus waning, it's only a matter of time before GM announces a hybrid or maybe even ICE (I can dream, right) replacement. That's why I'm driving mine into the ground (have almost 48k miles) and enjoying it daily. If you bury a Blackwing in a time capsule I'm sure it will grow in value but it won't come close to the long-term growth of a tech index fund or even a Dow30 mix.

Maybe true, but I can't drive my Vanguard index fund on the track onl weekends

I guess perversely, I'm sorta hoping you're right about the collectible value not being a big deal now. But I thought I saw GM made less than 1000 M6 5wings per year, so I'm not sure you're right about that 10k figure...

 

[RDATLTE]

Well, this is the end result of a roughly 25mph front impact with a lady who ran a red light in front of me, leaving me zero time to stop.

Front and both side fenders are trashed, hood is obviously ruined, several plastic sheathing elements underneath are broken. I can't see any parts damage to the naked eye but the check engine light is on. Both passenger side doors will neither open nor fully close, which makes me worry about frame damage.

This '23 had 4k miles on it as I was keeping it low miles as a collector's item. I guess collectible value is all gone now that it's been in a wreck.

Question: Has anyone else had a wreck and tried to pursue getting insurance to pay for the reduction in collectible value?

Oh, and for what it's worth, the other driver spoke no English, had no license, and no insurance. The police gave her some citations but were not interested in any questions about immigration status and sent her on her way.

Can you go after your own insurance company for Diminished Value?

 

[rdollie]

Maybe true, but I can't drive my Vanguard index fund on the track onl weekends

I guess perversely, I'm sorta hoping you're right about the collectible value not being a big deal now. But I thought I saw GM made less than 1000 M6 5wings per year, so I'm not sure you're right about that 10k figure...

The manual take rate will put it at just under 5k units but they're still making more. Unless you're planning to not drive it for decades, it's a poor option for a collectible from a financial return perspective. It's not exclusive enough to be frank. A high end Porsche built in similar or lower numbers will cost more up front but return more if not driven for many years (but I doubt it would be a market index fund either). In other words, we all do what makes sense for our pockets - it our own money right? Just for me, I buy a car for daily fun and public (and private) equities for returns.

 

[rdollie]

Can you go after your own insurance company for Diminished Value?

With an uninsured at fault, that's the only recourse with no option for subrogation.

 

[DonD]

Gad you're OK, sorry about the car. Hope things go as well as possible.

Sorry law enforcement didn't do something about the non English speaker, possible illegal. Don

 

[piranha971]

I have filed a diminished value claim against the other driver's insurance (which was also my own insurance company). State Farm fought like hell not to pay diddly squat. First they offered a few hundred dollars, I hired an independent assessor and presented them with a formal report. They raised their offer to grand or two (don't remember) and basically said take it or leave it. So short of taking their army of lawyers to court, that was all I could do. That was for a 3 day old WRX with 126 miles on it. Sorry, you always get screwed in these things.

 

[DCV]

Insurance company will probably just pay out the market value based on comparable cars. But you can do your own research and come up with that number too. At least ask to see how they came up with it.

 

[668LT4]

Maybe true, but I can't drive my Vanguard index fund on the track onl weekends

This is exactly the point! Drive the Blackwing for pleasure. Invest elsewhere for earning money.

Most importantly, you are OK. None of this other stuff truly matters, at least in my view. God Bless

 

[CB34]

How do you write a ticket to someone you can't identify? Wild.

 

[DZnutz]

The manual take rate will put it at just under 5k units but they're still making more. Unless you're planning to not drive it for decades, it's a poor option for a collectible from a financial return perspective. It's not exclusive enough to be frank. A high end Porsche built in similar or lower numbers will cost more up front but return more if not driven for many years (but I doubt it would be a market index fund either). In other words, we all do what makes sense for our pockets - it our own money right? Just for me, I buy a car for daily fun and public (and private) equities for returns.

And where are you getting your production stats from?

 

[jwolf99]

As others said, first and foremost, you are ok. Push insurance on the diminished value. It's not going to be a lot but better than nothing. I will say that I had expected to see a bit more damage for a 25 MPH t-bone collision. While hard to think there would be frame damage with what appears to be limited exterior damage, the door closure issue could be the result of frame movement. But you wont know for sure until inspected on a lift (said captain obvious).

 

[jbawden]

This post hurts all the feels, sorry bud.

As far as the future value, no one here is betting on the 5BW to replace sound investment strategies, but there is no question that even if there are 15k or 20k made, it will always be special and certain spec combos (manual, all the carbons, and cool paint) that are preserved and maybe tastefully modified will absolutely bring big money. It might not out perform an index fund, but its still cool that people will pull a few of these into the future for others to enjoy. We all have our own use case, and none of them are wrong.

 

[fordperfaddict]

whats the ICE hotline? damn. sorry to hear thats a bummer. and people wonder why insurance has skyrocketed

 

[jwolf99]

whats the ICE hotline? damn. sorry to hear thats a bummer. and people wonder why insurance has skyrocketed

It's so true. Similar thing happened to my son almost 3 years ago in his 2020 Grand Cherokee, except it was him who got t-boned. At an intersection less than half a mile from our house, traffic light turned green, he proceeded to enter the intersection only to have an 84 year old lady run the light that was red for her. Fortunately, she hit the driver side front fender. If he had accelerated slightly faster into the intersection, it would have hit the driver's door where he might not have walked away without any physical injury.

The worst part of this was that my wife and I were just coming home at that same time and drove up on the accident from opposite direction seconds after it happened. The intersection is good for an accident about once every month or two, and since black Cherokees are all over the place, we didn't think much of it at first. Then when we saw my son getting out of the car, we immediately pulled over and made sure all was OK. The woman's Subaru took heavy damage as well. Both cars were totaled.

I stood by my son's side as he gave his statement to the police and then stood by the woman when she gave her account of things. When the officer asked her whether her light was red or green, she said "I don't know". I made sure that got written down by the officer and into the accident report. That helped our insurance to get her insurance to reimburse us for our deductible.

This happened in Nov 2022 during COVID car pricing. He bought the Cherokee new in Nov 2020 for $36k after discounts and incentives ($42k sticker). Put 24k miles on it during two years. With used car prices at an all time high, the comparable values came back at $42k which is the amount of the check cut by Geico. He subsequent used it to buy his current 2015 Chevy SS which only had 5k miles on it. A premium for the car but it's what he ultimately wanted more than another SUV.

 

[fordperfaddict]

glad your son and OP ended up being okay!

 

[doublethebass]

It's so true. Similar thing happened to my son almost 3 years ago in his 2020 Grand Cherokee, except it was him who got t-boned. At an intersection less than half a mile from our house, traffic light turned green, he proceeded to enter the intersection only to have an 84 year old lady run the light that was red for her. Fortunately, she hit the driver side front fender. If he had accelerated slightly faster into the intersection, it would have hit the driver's door where he might not have walked away without any physical injury.

The worst part of this was that my wife and I were just coming home at that same time and drove up on the accident from opposite direction seconds after it happened. The intersection is good for an accident about once every month or two, and since black Cherokees are all over the place, we didn't think much of it at first. Then when we saw my son getting out of the car, we immediately pulled over and made sure all was OK. The woman's Subaru took heavy damage as well. Both cars were totaled.

I stood by my son's side as he gave his statement to the police and then stood by the woman when she gave her account of things. When the officer asked her whether her light was red or green, she said "I don't know". I made sure that got written down by the officer and into the accident report. That helped our insurance to get her insurance to reimburse us for our deductible.

This happened in Nov 2022 during COVID car pricing. He bought the Cherokee new in Nov 2020 for $36k after discounts and incentives ($42k sticker). Put 24k miles on it during two years. With used car prices at an all time high, the comparable values came back at $42k which is the amount of the check cut by Geico. He subsequent used it to buy his current 2015 Chevy SS which only had 5k miles on it. A premium for the car but it's what he ultimately wanted more than another SUV.


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