How We Put 70,000 Miles On A Car For Less Than $1,000

Lauren got into a scary accident a little while ago. She was merging from one highway to another and got rear-ended when she slowed down to allow another car to enter her lane. Everyone involved is ok, but the car was not.

car accident - side view

car accident - back view

As you can see in the pictures, it was smashed up pretty badly in the back. The trunk wouldn’t open and neither would either of the back seat doors. It was towed to a body shop for evaluation. The good news was that the other driver took full responsibility for the car and insurance would be paying for the full cost of repairs. However, the initial reports were that it was going to be totaled. We were bummed.

History of the Car

Lauren bought her 2005 Toyota Corolla back in 2007 as a salvaged vehicle. She paid about $10,500 for it at the time. It had about 24,000 miles on it at the time, and by the time of the accident, over 93,000 miles. It never had any major problems, but in the past few months, we paid for 3 new tires, got a belt replaced, and Lauren got some pretty pink windshield wipers that are now useless. We figured the car would be worth a couple thousand dollars, even though it had been fixed up and was in great condition when she got it.

We wanted it to be fixed because we thought it had at least another few years in it and getting a couple thousand for it seemed like a letdown. We’d have to pony up a lot more cash to get a car to replace it and would come out many thousands of dollars behind, which stinks when there’s an accident that’s not your fault.

The Result

A few days after the accident, we got a call letting us know the total amount they were giving us for the car: $9,936. That seemed like a lot to us for a salvaged car, but I guess that’s how much it would cost to replace the car (and based on how many miles we thought it had left, it sort of makes sense).

So 6+ years and about 70,000 miles later, we got a check from our insurance company for nearly the full original price paid for the car. The total cost for the 6 years and 70,000 miles was well under $1,000. Not too shabby!

Now we have nearly $10,000 to go buy a replacement car. We already have it, but since that’s a story in and of itself, I’ll save it for a separate post. Stay tuned!

2 Responses to How We Put 70,000 Miles On A Car For Less Than $1,000

  1. It is a pretty good deal and I think you have been treated generously. They may have made an issue about the fact that it was a salvaged car and drive to low ball you. Good news that they didn’t and I would say well done. It is amazing to get the money you spent for it back after 6 years. I guess you knew something when you bought it from salvage. Well done.