What's the difference between...
#5
Add this fact into your calculations, if you pony up the extra cash for an 08 or 09 one major downside is you will need to get collectors insurance if you wish to protect your investment. If god forbid your 08/09 gets in a major accident the insurance companies will not pay anything near there actual market value or what you paid for it. They will black book or NADA value it and both of these documents are well under the current actual sale values.
When I sold my 06 and purchased my 08 I purposely asked my insurance company what my actual cash payout would be if the vehicle was totaled. Believe it or not the 08 was only a few thousand more then the 06. Hartford insurance use to have agreed value auto insurance which would have been great but they don't offer that anymore.
I had a friend last that lost his 09 H2 to a flood that happened in Dallas Texas last year, not only did the insurance company screw him over for the value to total it they gave him a hard time about buying it back. And the number to buy it back was so close to the payout for the total it wasn't cost effective to try to rebuild it especially when you consider it would have to be re-titled as a salvage vehicle.
Salvage yards are paying good money for totaled Hummers especially 08/09 because of their limited numbers (as reflected by prices on fleabay and other sites). Insurance companies pay out little, sell to salvage companies for big bucks and screw the insured.
So long story short be aware and be prepared.
When I sold my 06 and purchased my 08 I purposely asked my insurance company what my actual cash payout would be if the vehicle was totaled. Believe it or not the 08 was only a few thousand more then the 06. Hartford insurance use to have agreed value auto insurance which would have been great but they don't offer that anymore.
I had a friend last that lost his 09 H2 to a flood that happened in Dallas Texas last year, not only did the insurance company screw him over for the value to total it they gave him a hard time about buying it back. And the number to buy it back was so close to the payout for the total it wasn't cost effective to try to rebuild it especially when you consider it would have to be re-titled as a salvage vehicle.
Salvage yards are paying good money for totaled Hummers especially 08/09 because of their limited numbers (as reflected by prices on fleabay and other sites). Insurance companies pay out little, sell to salvage companies for big bucks and screw the insured.
So long story short be aware and be prepared.
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02-21-2013 12:16 PM