Originally Posted by
Metal Man
If those are his numbers then those are his numbers. I don't see the reason to call him a liar. He obviously made out well with the insurance company. I would suspect that was negotiated a little too and if he was in a favorable position to get a little more from the insurance company good for him.
The insurance settlement isn't too hard to believe. It's the point of insurance: To pay out what the value of the car is.
What I find suspect, is the "negotiating" involved, where a car dealer pays more for a car than what they can sell it for.
Dealers MUST pay no more than Kelley Blue Book, due to the costs involved in getting it ready for the next buyer, operating costs, and shelf costs (The cost involved in keeping it on the lot for about 6 weeks which is average). If a dealer pays more, they are losing money.