My car was stolen, I’m still waiting to hear back from my insurance company to see what my pay out will be. Dmv.gov values my car at ~6,000. Looking to buy the same car again, and cars of a similar age and mileage cost at least 13,000. Why is the difference so large? Like how can they value my car at 6,000 when they sell for 13000 minimum? Doesn’t that fact alone imply my car is worth more? I know there are dealer fees, etc but those fees more than double the cost of the car?
Im assuming insurance payout will be much closer to 6000 than 13000. Does insurance factor in the cost to replace it all?
submitted by /u/No_Car_6909
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