Posted by Johnofnewhaven on July 06, 2019 at 14:09:08 from (174.231.1.219):
In Reply to: Re: $24,750 posted by John in La on July 06, 2019 at 12:28:08:
John of LA. I have been in the truck industry for over 33 years and I still am. I have bought and sold literally thousands of class 8 and medium duty trucks. I have worked with manufacturers, manufacturers financial divisions, lease companies, insurance companies, trucking companies, new dealers and wholesalers. I have sat on advisory boards for value guides. I have given Court depositions on values for insurance companies and bankruptcies. I have help set residual values for lease companies and manufacture financial divisions. I also help lease companies spec out new trucks to get the best value on the secondary market. I have toward plants of every manufacturer of class 8 trucks in the USA. I have operated them as a business ( won't ever do that again). I am very familiar with glider kits. I also understand what dollar amount the engine,transmission and rear end make up of a new truck. It is about 30% to 50% depending on the make and model of the component. Glider kits have been around for 40 plus years. It was introduced as a cheaper alternative to a new truck. I am saying that if you take a 2 year old over the road truck that is totaled (as you used for an example) and everything is junk except the engine, transmission and rear end then yes the insurance company will more than likely deem the damage and repair exceeds the value of the truck. I have seen less than a year old truck be totaled by an insurance company and yes the engine, transmission and rear ends were all usable. I don't think you realize the cost of rebuilding a totaled class 8 truck. As far as pre-emissions era glider kits many people would take the components from a wrecked truck and put them in a glider kit but the insurance company already paid on the total loss and sold the wreck to a salvage yard or sold it back to person or company who had it insured. I know of no insurance company that buys a glider kit to put back together a wrecked truck because it is cost prohibitive and the bank financing it doesn't want a glider as collateral when they originally financed a factory-built truck. I understand you put together glider kits back in the 80's but gliders were introduced as cheaper alternative to a new trucks. It just so happens glider kits work out great for good components out of a totaled wrecked truck.
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