Following Accident, Would you Pay to Repair 2005 Vehicle in Great Driving Condition, Replace with a Similar Year Vehicle, or Buy a Newer Used Vehicle?
A driver backed up quickly while turning, against the flow of traffic, and struck the rear side of a family member's car, damaging the right side door, rear side panel, tail light, bumper and dislodged a rubber stopper inside the rear right trunk hinge. The insurance immediately found the other driver at fault, and this is going on the other driver's insurance. Unfortunately the insurance company is trying to total the vehicle to get out of paying the full cost of the repair.
Given the choice, if they could keep the vehicle for appraised cash value less deducted auction value and have it repaired for another few thousand; or 2) purchase a similar Camry of similar model year for $1000 or so above the ACV payout; or 3) buy a newer model year Camry or similar vehicle (say a 2010 or 2015) for far more, which would you suggest?