Hail damage $$$ settlement recap

[gklott]

We have settled with our insurance company for the April hail damage.

The repair estimate was $35000, plus shipping to Ohio. The estimate summary showed hail dents in the roof, all 5 panels on the front and rear top, and the two upper side panels. There were other small items, such as the AC cover, frig vent cover, etc.

No local RV dealer would agree to repair the trailer, and the insurance appraiser agreed that the trailer needed to go back to AS for repairs.

So here's a recap of how the $$$ went on our classic purchase.

Purchase Contract on 05/12/2003
2004 30' Classic MSRP as ordered = $63,601.00
Actual sales price = $47105.00 (26% discount)
Hensley & Prodigy (installed) = $3260.00
Taxes, registration, & fees = $3412.63
Out the door = $53777.63

Purchase method
Down Payment = $10877.63
Balance Financed = $42800.00 (8 year, 5.0%)
Monthly payment = $542.13

Insurance Settlement 07/24/2006
Appraised Value = $42230.15
Loan payoff = $25545.81
Deductible = $100.00
Salvage value purchase = $8457.00
Cash = $8127.34

Out of pocket cash flow (without operating expenses)
Down payment = $10977.63
Principal paid = $17254.19
Interest paid = $5279.97
Deductible paid = $100.00
Salvage value paid = $8457.00
Cash settlement = ($8127.34)
Total $$$ paid to own = $33941.45

% paid to contract value: 63%
% paid to AS MRSP: 53%

The appraiser awarded no value for the Hensley hitch. He only considered the trailer with options.

The NADA Guide on-line book value seems to be:
Low retail: $34280.00
Avg retail: $41315.00

73/gus