So I got into an accident about a month ago. The guy had no insurance or papers so I couldn't pursue any sort of reimbursement. Ive been looking for a new car and was wondering if I should pull out of my savings and pay for the repair, or take the hit @ trade in?

If I fix it, ill have less to put down as a down payment so thats where my dilemmas at.....

What do you guys/gals think?

 

Well, it depends on how much damage was done and what your deductible is. If the damage is significant then report to your insurance company and they should take care of it. They'll probably wonder why you took so long to notify them and also wonder why there is no police report on file but they should still work with you on this.
But there's some details missing from your post. Why didn't you report it to the cops? Whose fault was it ? If the other guy didn't have insurance nor "papers" (registration, driver's license?) then the cops should have been called, it might have been a stolen car that he was driving.

 

If you can stay within mileage constraints, what about a cheap lease until you get back on your feet?

 

How bad is the damage from it?

 

That's messed up. I know how you feel, the same thing happen to me with the 2G TL. My deductible was high so I decided to sell it privately for whatever I could get. Lucky for me, the car was totalled in another accident and I received an insurance check

Your situation, it all depends on the damage and deductible.

 

Bill for the repair would be about 1200 depending on where i go.

I did call the cops after the guy told me he didnt have insurance, he tried to give me $200 on the spot, so I have a report and the guy got taken away and his car was towed.

I would go through my insurance but I rear ended a taxi about 7 months ago and that already raised my rates by $55/mo and given that im looking at an '11 STI Sedan, i really dont want to raise them even higher.

He side swiped me trying to change lanes. Drivers side fender is smashed in pretty bad and there is body damage along the door and rear drivers side quarter panel.

 

Did you try to get a quote from a local shop?

If I was in your position, I would try to fix it for cheap and sell it.

 

Bring it by A&L Autobody in Palatine

 

I'd have that bitch arrested.

 

That's pretty high! Which insurance company do you use?

 

Decisions, decisions.

If you can afford $1200 and you want to avoid the insurance company I would pay for the repairs and keep the car a while longer and keep saving. That way even though you will not get as much on a sale or trade you have given yourself more time to save.

 

Wow, that's not illegal in IL? Don't you have to have insurance?

He didn't have a driver's license either? Jeezus man, WTF.

 

what is the car worth?

 

What's your deductable? Why would they raise your rates if you're not at fault? I'm refering to this accident, not the previous one that you were at fault for.

 

Dude there are so many people in IL that drive that don't have insurance, brains, or drivers licenses. But on that note my deductible is 100 bucks so ill be ok.

 

How are the deals on STi Sedan these days? They were giving out great deals on the sedans only in the beginning of this year, and everything went bad after that tsunami happened.

 

I have uninsured motorist coverage. I assume you do not. Anything happens I just pay my deductable.

 

$500, thats what im saying! Its so irritating...

 

Geico. My theory is that since im on a shared plan with my mom and sister and since they both have 3 accidents between them, it cause mine to go up that much more. I was at about $110/mo before i rear ended that taxi, now im at almost $170! sucks real bad especially with my damn student loans. Thats why im leaning towards fix it on the cheap and just hold onto it until I have enough saved up for a good sized down payment.

 

I called Geico and they said it would definetly raise my rates so even though I didnt ask, Im pretty sure i do not. Although, youve just made me want to call them tomorrow

 

Yup, my local dealer would not budge a cent.

 

And FYI, the guy did get arrested for not having a license and insurance. The cop told me when he was returning my credentials that he was taking him in for not having any sort of identification on him too.

 

i agree to what he said

 

1,200 isn't that big a repair bill. If you want to fix it for even less get CAPA certified parts instead of OEM (fender) and see if you can have the shop blend the paint instead of making a project out of it.

If this hasen't hit the VIN yet I'd get a carfax report ASAP and put it up for sale.

You also have to consider that if you get a newer/more expensive car it will cost more to insure; you might want to consider opening up your own policy and letting your mom/sister do their own thing.

 

Not sure about states, but in Canada you would definitely get more by fixing it yourself then trying to sell it. The dealer likely won't give you much at all for a trade in in that condition. Though I do hear that the used car market in the US is super hot right now, so maybe make a few phone calls and see what people will offer.

 

Confused as to why this isnt covered under no fault or uninsured motorsist - although its probably too late to put in a claim at this point.

For $1200, Id fix the car then sell it.

 

My understanding is that its different state to state and from my conversation with Geico, I feel like IL is one of those. I will call again tomorrow and confirm that.

 

I'd fix the car and drive it- $1,200 of damage isn't too bad...

 

You don't have insurance for "uninsured motorist"? I have it on my policy..