Business Plan/ Mentor Needed

The insurance company is ACE INA.

I will be giving them the work we have done to it recently and print ads of similar trucks online. If that does not work then I will get an independent appraisel. Unfortunately, the truck is parked at a yard 5 hours away.

Oh yeah, the highest buy back bid is at $4000.

 

So I emailed the company with some ads from Kijiji and some recent repairs for tranny and clutch and brakes and this was their response.

"After reviewing you Kijiji documents, the offer made by Jeff of 20,000.00$ is more than reasonable keeping in mind the millage on your truck.


Two trucks from your list are listed at 17,000.00$ with 1,990,000 kilometers and the other one is listed at 18,900.00$ with 1,545,750 kilometers.


I do understand that you have made maintenance repairs on your truck but that’s what it is maintenance otherwise you could have not use your truck.


Keep in mind that the prices on Kijiji are the asking price and not the final selling price it’s always negotiable.


Therefore I suggest that the offer made by Jeff in the amount of 20K be accepted.


If this offer is not accepted, we will not be responsible any longer for the storage fees at the towing facility.


Waiting for your reply


Regards

 

Why?
After their deductible..I will have 14k left
20k is not what the truck is worth.

 

Forget the deductible. Even the 20k is low. No where on the agreement I see that we are liable for the storage costs.

They are trying to not get independent appraisal. The truck is parked somewhere 5 hours away and there is no insurance officail involved.

We had trucks write off before but this is the first time we are dealing with such thing.

 

$25-$28000 is the reasonable range.

We bought it for $55,000 about 4 years ago.
How do I find the book value, do you know?