Our client has a 2017 Ford Mustang and struck a barrier in the road. The OEM Certified Collision Facility our client chose to restore her car back to it’s Pre-Wreck OEM Condition issued a repair estimate for $15,932.63. Our client wanted her Mustang returned back to it’s OEM Pre-Wreck Condition.
Our client has Nationwide Insurance. Nationwide Insurance elected to deem our client’s Mustang a Total Loss. Nationwide employed CCC ONE to issue a Market Valuation Report on the 2017 Ford Mustang. CCC ONE arrived at a Market Value replacement on the Mustang for $21,235.00.
The Damage to Loss Ratio at the CCC ONE Adjusted Vehicle Value ($15,932.63 / $21,235.00 = 75%) was 75%. Texas Transportation Department sets the Total Loss Threshold as 100% of the Actual Cash Value. Meaning if the repair cost minus the paint cost, and sales tax is less than the Actual Cash Value, said vehicle is eligible to be repaired.
Our client employed us to issue a damage loss module, explain to Nationwide the Texas Total Loss Threshold code, and negotiate with Nationwide to repair her car. Nationwide subsequently agreed to the $15,932.63 repair estimate to restore our client’s 2017 Ford Mustang back to it’s Pre-Wreck OEM Condition after presented the facts.