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Discussion Starter #1
Well unfortunately I'm in a battle of insurance for getting fair market price and need a little help.
Insurance corp. seems to not acknowledge a few thigs about our 2002 GMC HighRider ZR2 and appear to be lowballing and comparing to conventional Sonoma's.
Does anyone have access to the MRSP of these trucks of the 2002 vintage? Finding that online has been a real struggle. I am Canadian side too which seems to make it even harder. Any help appreciated!
 

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Welcome to the forum.
I think you're in an appropriate section of the forum.

Don't really see how the MSRP is going to help in an argument over it's current value 18 years later.
Condition and mileage would be the determining factors today.
I have found some info on the MSRP and some of the options searching with Google.
Look for road tests or magazine reviews of your truck when new.
Edmunds and others sometimes have that info.

Just out of curiosity I plugged in same average figures on Edmunds appraisal page and at 160km it's worth between $1500 and $2500 US dollars. At 290km that drops to $600 to $1500 US. At current exchange that's $780 to $1950 Canadian. (1.3 exchange rate as of today)
I've seen them for sale for anything from $600 US to $9000 US. But you have to remember asking and selling can be very different. I personally wouldn't pay over $4500 for a perfect ZR2 from San Diego that had always been garaged, never been in an accident, and was still on it's factory tires.

On my 98 ZR2 the MSRP was $19,742.00 plus $510 destination charge. I paid $600 for it 3 years ago. About the same age yours is now.
 

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Discussion Starter #4
Sorry if I posted in a wrong area!
Welcome to the forum.
I think you're in an appropriate section of the forum.

Don't really see how the MSRP is going to help in an argument over it's current value 18 years later.
Condition and mileage would be the determining factors today.
I have found some info on the MSRP and some of the options searching with Google.
Look for road tests or magazine reviews of your truck when new.
Edmunds and others sometimes have that info.

Just out of curiosity I plugged in same average figures on Edmunds appraisal page and at 160km it's worth between $1500 and $2500 US dollars. At 290km that drops to $600 to $1500 US. At current exchange that's $780 to $1950 Canadian. (1.3 exchange rate as of today)
I've seen them for sale for anything from $600 US to $9000 US. But you have to remember asking and selling can be very different. I personally wouldn't pay over $4500 for a perfect ZR2 from San Diego that had always been garaged, never been in an accident, and was still on it's factory tires.

On my 98 ZR2 the MSRP was $19,742.00 plus $510 destination charge. I paid $600 for it 3 years ago. About the same age yours is now.
Yes the condition mileage etc are major factors but insurance companies use calculated software that has a multitude of input factors such as MSRP that all factor into the valuation end result for your vehicle.
Currently they have a 2wd, conventional 4wd Extended can and a crew cab imputed and then use averaging factors.
A strange way to validate a MSRP for a Highrider ZR2 what should be available.
Each section of analysis bumps your value up or down.

a lot of what they have done in the offer makes no sense as they are currently using local listing from two 2wd Sonoma SLS and one 4x4 crew cab SLS and then averaging the adjusted list price of those to valuate our Highrider for the total loss settlement.
They are failing to acknowledge adding 4x4 adjustments when comparing to the 2wd trucks and penalizing our value when comparing to the crew cab by devaluing the zr2 by over $650 for the Crd cab vs crew.
So when negotiations are being done each input if not done correctly adds up in the hundreds and potentially thousands.
So I think you see what I’m getting at.
The MSRP is factored in at a % and without the Highrider option being used to insurance company conveniently sways the averages closer to a 2wd value by law of averages.
Each input done incorrect can add up overall to a significant enough amount to make it worthwhile to correct them.
Overall could be a 2-3 thousand difference.
Thanks.
 

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Discussion Starter #5
Yes the condition mileage etc are major factors but insurance companies use calculated software that has a multitude of input factors such as MSRP that all factor into the valuation end result for your vehicle.
Currently they have a 2wd, conventional 4wd Extended can and a crew cab imputed and then use averaging factors.
A strange way to validate a MSRP for a Highrider ZR2 what should be available.
Each section of analysis bumps your value up or down.

a lot of what they have done in the offer makes no sense as they are currently using local listing from two 2wd Sonoma SLS and one 4x4 crew cab SLS and then averaging the adjusted list price of those to valuate our Highrider for the total loss settlement.
They are failing to acknowledge adding 4x4 adjustments when comparing to the 2wd trucks and penalizing our value when comparing to the crew cab by devaluing the zr2 by over $650 for the Crd cab vs crew.
So when negotiations are being done each input if not done correctly adds up in the hundreds and potentially thousands.
So I think you see what I’m getting at.
The MSRP is factored in at a % and without the Highrider option being used to insurance company conveniently sways the averages closer to a 2wd value by law of averages.
Each input done incorrect can add up overall to a significant enough amount to make it worthwhile to correct them.
Overall could be a 2-3 thousand difference.
Thanks.
 

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Discussion Starter #7
In a nutshell by having a MSRP depreciated factor for the correct model MSRP could be an easy way to ensure we don’t leave $3-500 in the insurance companies bank account when it could be used for purchasing the replacement.
Sounds pretty nickel and dime but the insurance companies play that game. They adjusted mileage between the loss vehicle and the comparison vehicle they are using at a rate of .8 cents per km. Yes not even one full cent per km!
So they offer an adjusted mileage factor in amounts that to the average purchaser would be not worth mentioning because they like to nickel and dime you that far down in scale.
Eg our loss vehicle and one comparison they use they adjusted pay out price by $42.
They understand how to negotiate every little thing to their Benifits but conveniently like to overlook things like the Highrider difference in cost value etc hoping the claim holder is none the wiser, will look at the offer and say “ oh okay, I guess that’s all I’m entitled too”
Simply knowing what you have and communicating fact with insurance companies is crucial and not like haggling with a guy over the price of the truck on Craigslist etc.
If by having a small pre existing dent on a fender or a small spot of rust they have the option to move the condition value from good to below average or poor in the program that simple dent lowers your value by 15-20% overall value.
The average guy you’d by a truck from would likely tell you to get stuffed if you tried haggling him down 15-20% over small stuff, but insurance companies appear to live on their own terms.
So one must sink to their level of scrutinization it seems or just accept their offer and accept the fact they come out winning the manipulated deck of cards.
Just like a wise player in 5 card stud, know your game, and no cheating.
 

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Perhaps find another insurance company and do a hypothetical comparison to get their value. Then use it against your own insurance company if they are the one with your claim.
 

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Found this online: 4WD Extended Cab, 6.1-ft. box, 4.3-liter: SL ($19,456), SLS ($20,574) . That's the base price you still need to add the ZR2 option and automatic if you have it.
I found this article on a 1998 ZR2 and as tested it's MSRP was $25,458 . I'm sure an 02 would have been a bit more.
IIRC the ZR2 package alone was a $2200 option. But was often part of the 1SR package that cost around $5600. That package basically included power everything + air and automatic. My 98 Z has it.


You should be able to go to your local GMC dealer and with the vin number get a print out of the original dealer invoice.
If you're nice and the guy you talk to is having a good day, since it's strictly a courtesy service.
 

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Discussion Starter #11
Found this online: 4WD Extended Cab, 6.1-ft. box, 4.3-liter: SL ($19,456), SLS ($20,574) . That's the base price you still need to add the ZR2 option and automatic if you have it.
I found this article on a 1998 ZR2 and as tested it's MSRP was $25,458 . I'm sure an 02 would have been a bit more.
IIRC the ZR2 package alone was a $2200 option. But was often part of the 1SR package that cost around $5600. That package basically included power everything + air and automatic. My 98 Z has it.


You should be able to go to your local GMC dealer and with the vin number get a print out of the original dealer invoice.
If you're nice and the guy you talk to is having a good day, since it's strictly a courtesy service.
Do you have the link to the MSRP in the first half of your reply? “4WD Extended Cab, 6.1-ft. box, 4.3-liter: SL ($19,456), SLS ($20,574) .”
Good digging, sometimes just a different browser is all it takes to find stuff.
Thanks
 

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Nearer the bottom of the page under summary
 

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Discussion Starter #13
Well after a long debate with the ICBC insurance corp here in British Columbia we managed tooth and nail to get the price up on the total loss payout by $1200. Only option left to argue was the mandatory arbitration route that settles it outside the insurance monopoly but fees of $450 and now guarantees so we cut the loss and settled. They marked the title as Dismantle Parts Only , DPO. Cant rebuild and reinspect. So dismantling we will go, as we got the complete truck back for $300. also part of the settlement as they were talking about $750 buy back in the process during negotiations.
Got a line on an '03 4X4 NON zr2 for a good price parts truck and will look at swapping some drivetrain frame cab etc. Welcome to project time.
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