What to Do when your Car is Totaled
You have to think of recycling a car when it becomes totaled. There are so many cars out there that go through this recycling process, they give out plenty of steel for making millions of new cars. For those whose cars have been through an accident, here are the things you can do about the situation.
our first option is normally accepting the settlement offer. For insurance companies, a car is dismissed as totaled if the cost of repairing it amounts to over half the value it holds presently. The figure is not necessarily universal, with different companies sticking to their preference. If yours was affected as much, the responsible insurance company would offer you the cash value of the car. Where you say yes, they get to keep the car as you receive the cash.
You may decide to keep the car and fix it. The move works well for older cars, where the present value will not get you much if any from a settlement offer. You can, therefore, keep it and do the repairs. Filing a claim risks you get a salvage title instead. Such a title keeps you from managing to sell it in the future if you wanted.
You can also keep the car and not do much about the repairs. If the car sustained superficial damage, and can still move as normal, you can keep on using it. A case of the car having a large scratch on the side and the insurance company being unwilling to do anything about does not prevent you from driving the car with that scratch present. You can still drive the car with such a mark on it.
The car can also be released on salvage grounds. In times when the insurance company makes below value offers you can decide to sell the car as junk for cash. You can strip it for parts and sell them individually, or you can go with the option to sell it as a whole. You only need to let them know you have a car that is ripe for parts, and they will make you an offer. Once you agree to it, they will come to tow the car, and leave you with the cash.
Among these options, you will not miss a solution to your totaled car dilemma. From continuing to drive the car as it is to sell it for parts, you have so many options. In between you can consider what the insurance company has to offer, and see if it makes business sense.
You can also go to this website, to learn more about what to do when the car only needs repair, to help you manage that situation effectively.