blwest

2002 LX 470-To Total or to Repair?
Hi,
I have had a 2002 Vapor Blue LX 470 with gray leather interior, Mark Levinson, Navigation since December 2002 (I'm the second owner-bought from local Lexus dealer with 14,987 miles on it at 1 year old). We have loved this car for years. It's been very dependable and great on steep gravel mountain driveway. It is now 12 1/2 years old with around 156,000 miles on it. I recently bought a 2013 RX 450h and my 19 year old college student daughter is now the primary driver. On her way back from school in South Carolina last week she was run off the interstate and collided with the guard cabling. No injuries thankfully! There is no structural damage and the car is fixable for $9,100.00. The insurance company is giving me the choice on whether I want to have it repaired or totaled. It's a great car and can be safely and successfully repaired. If the car is totaled out they will give me $18,150.00 (17,450 for the car plus some taxes and title fees and less the 500 deductible). I'm very torn. We love the car but it has some age and mileage on it and only has front airbags and gets 12-13 miles per gallon or so. I know these are built really well and we have maintained it perfectly always at the Lexus dealer, so it could go a lot more miles. It's a tank which I like, but I feel the offer is pretty strong and wondering what to do. I have to give insurance company an answer soon. Wondering if I should take the money and maybe put her in something a few years newer with more airbags and a little better mileage (still safe though). Any advice or input would be appreciated.
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plrod

fix it and keep her in it; you've got a know vehicle with known maintenance and condition, it's a luxury riding tank and very safe as is for a daughter. newer is not necessarily better unless you'd be getting another LX for her. Good luck

LXBriGuy

If your goal is to get her into another vehicle, similar to the LX or LandCruiser then....

1) if you don't have any more money to put toward a truck, other than what insurance will give you, then go ahead and have them fix it.

2) if you do have some additional funds, then let them total it and purchase a 2006 or 2007 using the insurance money and the additional few thousand you would need. If you get the 2007, then you are getting the same vehicle, just 5 years newer, the last year of production on this body style, and all of the safety and tech upgrades that came on the 2007 but not the 2002

Max707

Take the money and run. Unless you plan on keeping it forever.

Chocolate

Agreed. You can fix it and you'll have a vehicle worth significantly less when you want to sell because it's been in an accident.