Honestly, I'd price out what you can get rid of off the car, and use what you can get out of it to pay it off. Then get a loan to buy something else. I'm sorry to hear about your house. I hope you get it fixed soon.

 

Ok, sounds like you are serious. First, anytime a car is exposed to serious heat there are some problems. They could repaint the metal, but you do realize that the steel that has been exposed to that severe of heat changes its chemistry. Its strenght, integrity, everthing, will not be like it was. While it takes a lot to melt steel it doesn't take that much heat like that to change the overall compound of the metal. It will be more prone to rust, no matter what you do, and it will be much weaker than it was before the fire.

Secondly, do the math. You owe 6k on the car and you're contemplating putting 8k more into it. That puts you at a 14K salvaged CLS that's will probably not even be worth the 8K you're putting into it. You're out 6K...nothing you can do about it. Suck up your losses and find a beater until you pay this off.

3rd, How the hell did your insurance company let you get liability only on a car with a lien on it? If you owed money on it they should've required full coverage.

 

can we see some pics of this toasted CL?

 

I have only had mine for 7 months and I still agree ^^^^. You could have a NSX for the cost of rebuild on that pile of rot.

 

Office Space ftw

 

Of Course You Shouldnt Put That Kind Of Money Back Into That Car Its Not Worth It.

 

You my friend, rock. It was changed slightly, so you get +1 for that too.

 

lets see that pix and than maybe and i mean MAYBE u might have a chance to rebuild it

 

Just like everyone else is saying, don't get caught into the trap of thinking you will be in a better position to fix the car.

Do the math

Go out and buy a used late 90's early 00 Honda Civic and pay 4-5K. Get yourself out of the hole.

You will owe the 6K but then you add on another 5K, you will only have an 11K car payment.


Also, you seem like you have no collateral, therefore if you take out a loan to repair the car, it will be considered an unsecure loan and it will most likely be at a much higher rate (10% +) than a used car loan. (7% +)

Get what you can from the CL and kiss it goodbye. It is by far your safest bet.

Good luck

 

Listen to this post, everything he says is exactly right.

Its hilarious how you can tell the difference in answers just by looking at the persons age.

 

soo..think its fixable.??? she starts,everything works except for shifting out of park and stuck throttle cable an hood cable and fuel door wont close due to melted plastic lock..hid's seats cd/radio alarm power locks cluster ac trunk all work
the black stuff on the car is the car cover i had on it melted right on the car..windshield was melted an a piece of the cealing fell onto the windshield an smashed threw..drove her out of the garage after the fire
..there was a spoiler on the car when i last saw her =(

 

You Mean To Tell Me You Wasted A Thread On This Piece Of Shit Car? Anybody Would Tell You To Junk That Car.

 

Totaled... Take the insurance money and run !!

 

wait if the car was in the garage it should be covered under most homeowner insurances

 

sorry for wasting thread's dude..i think ill keep it for a bit longer till i pay off the 6k then auction it off .

 

on my long quest for the ultra rare parts car i so happen to need....i happen to stumble upon this CL....now heres a car that just could be worst than mine...

 

holy shit.

 

woh, those pics make my stomach turn... def take the insurance money and bounce. try to find an 03 cls.

 

thats not his car

 

the car car be fixed but it will cost about 5k

 

I repeat my statement from before, and definately after looking at it. Every body panel on that car has been compromised. Run, don't walk from that wreck. If you try to fix it you will find problem after problem that you couldn't have taken into account before starting the overhaul.

 

are you serious thats way more tha 5k worth of work.

 

Yeah seriously dude, get that shit out of here. No matter how much you think its still going to be worth, its not. I'll take those seats off you though.

 

to that burned up CL. It's too far gone man.

 

For the love of God, stop posting in this thread already.

And sorry about the CL man...I too wondered if homeowner's insurance would have covered what was inside the home.

 

He only had liability on it. So he can't do what you and Steve Miller Band says.

I as well seem to think that Home Owner's Insurance would be able to help with it.

 

verry odd what i learned from my home insurance company thats written in fine small tiny print is that unless you have all 4 tires off the car and on jack stands at the time of the fire...only then will home owner's insurance cover the car..itll then be consider'd part of the house once tires are off an car is in garage but when tires or on its no longer a part of the house even if in the garage...intresting loop hole...everyone better read the fine print on there home insurance's

 

I need to get into the insurance business....

 

even if you did get it fixed
the value of the car after being involved in the fire is probly less than what you owe, nevermind what youd have to pay to get it fixed on top of that.
and by the time everything got fixed youd probly not even remember you owned it.

 

I saw your post in another thread so I needed to bump this.

You have a lien on your car (you said you owe $6k) and you didn't have full coverage? What kind of bank did you get a loan from that lets you have a car with a lien on it without full coverage?

 

i did not go threw a bank for the loan..i used 1 of my credit card's to buy the car..an that is why i could get liabilty.
i wouldnt mind just buying another 1 but must pay off the rest of the balance before i go charge up another CL..

 

Has this at least taught you to carry full coverage unless the asset is less than your yearly premium?

 

actually ..no im still gonna get liability on my next CL...ive already upgraded the whole garage with thick fire retarding walls/cealing/tool shed..
instead of the normal dry wall material when they rebuilt it this month..and im haveing a sprinkler system installed so next time theres a fire the car wont be burnt an the garage will still be standing
...maybe if i have some extra cash id get full coverage,but heck i dont even drive the CL its just a decoration =)

 

You can't afford to replace the asset, you can't afford to insure the asset, but you can afford to purchase it? I mean what's the cost of full coverage $150 more a month?
You could have a garage built of solid concrete isn't going to protect your car from a hit and run, an uninsured motorist, or a car thief.

 

You can't really rationalize with someone who buys a car with a credit card and doesn't plan on paying it off within a year when they might have a possible 0% Intro APR. No offense, but you obviously aren't the most financially savy person alive.

You need to sit down and look at the whole picture like Mrsteve is saying.

Get both Coll & Comp, and bump the deductible to $1,000 if you want to save some money, but atleast you are covered. As for another fire happening and upgrading your garage, its kind of pointless. Most likely the next time you need your insurance, it is going to be from something more typical like an accident not a fire in your garage.

 

let's see some after pictures, you should have gotten the 2 boxes full of parts. should have made a small dent.