Insurance trouble, advice needed.
 

So, I hate to admit it, but one night a little over two weeks ago I was driving home late and nodded off at the wheel for a second, and when I woke up, my 2005 ti-gray was smashed into a utility pole. I've been arguing with insurance since then, and finally today I got the call that it's officially declared totaled with $9,680 in damage (crumpled hood, pushed-back fenders, broken radiator, ruined bumper, etc). They appraised the car at $12,150, and minus my deductible they'll give me $11,900. So, I'm debating what to do.

My first option is to keep my car and have it fixed. The pros of this are that it's arguably the cheapest route, and I get to keep MY car, which I'm very fond of. The cons are that it would now have a salvage title, which destroys the resale value and leaves me out to dry if I ever needed to make another claim. They'd only pay the salvage value of the car, which is usually less than half the blue book value, it could still carry full coverage and the title status wouldn't affect my insurance rate. And though the repair shop is confident, there's no guarantee it'll drive as well again.

Another option is to buy a replacement RX8. The pros are that I'd still have a car I love and it would have a clean title and all the insurance and resale benefits associated with that, but the cons are that it would almost definitely cost me out of pocket and finding an 8 like mine with the GT and appearance packages with a manual transmission is pretty tough to find. I'd also start over at square one with my mods, which I put a lot of time and money into.

I'd also consider buying an RX7 FD. I've loved that car for a long time, and now finally there are some fine examples in my price range and I'm pretty excited about the idea of having one. Keeps things rotary, too. However, they're getting very old and even though I have a motorcycle to get me around in a pinch, I don't have a lot of time and money to spend fixing an unreliable car that I don't have much experience with. I'm also not wild about just two seats, but I could get over that.

Finally, there's the option of buying a different car. There's some interesting stuff going for cheap-ish, like M3s, S4s, GTOs, S2000s, and NC Miatas. I'd entertain the idea of having any one of them. However, I'm not as crazy about any of them as I am about my RX8, and getting any one of them would, like a 7, cost me AT LEAST 2 grand or so out of pocket. Probably more like 5 or 6.

I've got a day or two to think about whether I send my baby off to the chop shop or give her a second chance. Let me know what you guys think.

just get the money and get another rx8

That sucks. Sounds like you weren't hurt...which is good.

Unless you're in the body business and know exactly what you're up to, it's a losing deal to try to rebuild a total. So take the insurance money and buy another car.

As far as what car to buy...follow your heart and your bank account.

Ken

glad to hear you're okay.. but ken said it best.

take the money and run.. whether your next car is an 8.. thats up to you..and just like ken said.. your bank account

Salvage cars are not cool man. Get a new one.

Get a RX7 FD

take the money

I considered a white M3, a yellow GTO, a blue S4 and a silver S2000 over my RX8. It's ironic that you mention them. Not a Miata though, cause it's too small for me. Anyway, I love my RX8, and looking back, I'd only consider the S4 now over the 8, but it's older, out of warranty and costlier to fix and/or maintain.

Get an RX8. You can find them cheap and still with some extended warranty left on the engine, in case it fails.

Take the money man, even with 12 grand, you can pay cash for a good condition 04 RX8 easy. Or put that as a good chunk down on a slightly used R3.

I would not keep the salvage, I know it's hard but you gotta let it go..

Can you talk them into letting you keep the salvage and get the money for it?

Its a far stretch but you might be able to work that out.

then you can part out your car make some extra money and know that shes going to good homes.

Cash $$$ out... .. right now prices are falling and rebuilt titles are worthless rollers.

Skip the salvage and take the money. Both and FD RX7 and your salvaged RX8 will be nothing but reliability issues.

Find another RX8 or fun car to drive out there. There's some good stuff to choose from right now!

Plenty of GT appearance packages out there. You may just have to settle for VR. It's faster anyway. :)