When wondering what to do with a totaled car, you may have thought about the possibility of selling it to scrap for some cash. However, that can be a very risky decision, especially if you don’t know when a car is totaled for insurance.
A totaled car means that the damage it received is far greater than its market value. In some cases, insurance companies consider a car totaled if the repairs cost more than 60% or 70% of its current value. Totaled cars can also refer to specific types of damage to a car, such as airbags, frame damage, engine damage, and fire damage just to name a few.
Insurance companies decide whether or not a car is totaled. Sometimes, insurance companies can deem a car totaled when it isn’t that bad off. Luckily, if they do such a thing, you can fight their decision by hiring a private appraiser and then gathering documents that show a history of maintenance. But the drawn-out process can take a lot of time and does not guarantee that it will change their decision.
Cash for a Totaled Car
After better understanding what “totaled” means, the real question is: what can you do with it? You can take various routes in this situation. You can give the totaled car to your insurance, who will pay you cash for it. As for what happens to a totaled car, your insurance provider will try to auction the car off so that they can make their money back.
Other than giving the vehicle to your insurance provider, you can sell a totaled car yourself. Of course, this means that you will not receive any form of compensation from your insurance provider. It is also possible that selling your car on your own can offer more money than if you gave it to an insurance provider.
What to Do With a Wrecked Car
If you have, unfortunately, totaled your car, the only real option that you have is to sell it; especially with how expensive repairing it may be. Here are some other reasons why people may end up selling a car that is a total loss.
- No insurance: one of the major reasons why people sell their wrecked car is because they do not have comprehensive insurance, or they don’t have the right insurance. Therefore, it is best to sell the car for some money.
- The person at fault does not have insurance: during a collision, insurance companies are able to provide for the repairs by charging the person at fault’s insurance provider. But if they do not have insurance, you may be out of luck when trying to get your payment.
- Natural Disaster: most car insurance providers do not cover natural disasters or damage from natural events. You will need comprehensive coverage to receive money from your insurance provider.
Getting Cash for Totaled Cars
Finding yourself in a crash is a very serious issue that can be very expensive to fix, especially if you don’t have the right insurance coverage. So if you are wondering what to do with a totaled car, we have just the solution for you.
At cash for cars, we offer the best prices for your totaled cars. Selling a car, let alone one that has gone through significant damage, can be very frustrating. And even if you can find the buyers you want, they may not be willing to pay what you expected. Luckily, we offer great prices for your car, even if it is not in working condition.
Other than offering good totaled car value, we also offer to pick up your car from a location that you send. This service we offer is completely free and saves you the extra cost of incurring a total loss. To learn more, visit our website or call on our number to sell your car today.
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