Wrecked Car Damaged Vehicle Blog

RSS Grab DamageMAX RSS Feeds

Car is Totaled?

Joseph Coupal - Friday, April 19, 2013

Take Full Insurance Settlement, Don't Retain the Vehicle!

Many auto insurers encourage their policyholders to keep their vehicles even after declared a total loss. One major insurers boasts that nearly 25% of their total loss claims result in the salvage being "retained" by the policyholder. It works like this - policyholder gets check for the full value of the claim and then purchases the vehicle at a reduced (salvage) value from their insurer. Seems like a great idea for the insurer and the policyholder, right?

Wrong!

Many insurers are under the impression that there is "goodwill" associated with the owner- retained option since the policyholder did not want to scrap the car. Policyholders sometimes like this option because they are attached emotionally to the car or can't afford to replace it even with a full settlement. What policyholders often don't anticipate is the impact of a salvage title on their car's value - the title brand, but it will reduce the value by up to 50%!

Additionally, many policyholders believe they can repair the vehicle themselves based what seems to be an inflated damage estimate. However, many policyholders end up abandoning the project and liquidating the dismantled vehicle at a loss. Or, they fix the vehicle inadequately and drive the vehicle with sub-standard repairs.

There are success stories with owner-retained vehicles, but more often than not the policyholder ends up dissatisfied. When a policyholder asks DamageMAX to bid on their owner retained vehicle we decline to make an offer. Instead, we encourage the policyholder to take the full settlement and shop for a new vehicle.

However, many policyholders are in a more difficult situation - their vehicle is wrecked but not totaled and they can't or won't repair it. In this case DamageMAX will buy the policyholder's vehicle AS-IS.

Don't be taken, call DamageMAX for a fast, free, no obligation quote. It only takes a few minutes of your time to get MAX value for your Damaged Car. Please call 888-629-2137 or visit http://damagemax.com/contact-us.htm.


Recent Posts


Tags

Chicago sell damaged cars vehicle for trade-in how to sell a damaged car Collision damaged vehicles money for damaged vehicles trade-in value wrecked auto buy your wrecked car broken vehicles damaged vehicles inoperable cars negative carfax reports retail value tow charges High mileage vehicles sell vehicles selling a damaged car buy your wreck vehicle values car buying business repaired E15 engine damaged vehicle buy wrecked cars salvage value recycle Branded title vehicles cash offer sell your vehicle Damaged Car wreck your car fix the vehicle Diminished Vehicle Value value of the vehicle free price quote sell your damaged vehicle value car for sale leaking fluids check for your wreck sell a car damaged vehicle to sell sell the wrecked vehicle sell damaged vehicles Sell your wrecked vehicle car buyer value for your Damaged vehicle car parts for cash post-crash value retained by the owner Sell your wreck sell a damaged car sell online damaged vehicle world value of your vehicle cash out problem vehicle wreck industry insider damaged by collision selling flood damaged vehicles wrecked your vehicle wreck your vehicle selling a vehicle cash offer on any damaged vehicle buy your vehicle wrecked vehicles cars for cash buy a broken vehicle car's value cash for the car Trade-in Program repairing the car Sell your car FAST sold replacement vehicle car is not totalled cash for your vehicle repair your vehicle sell car is wrecked sell it online sell your Honda for Top Dollar old junker wrecked vehicle, problem vehicles buys any wrecked car CarBUYERUSA.com selling any vehicle sell to damageMAX Inoperable vehicles repair your car sell the vehicle accident with no insurance car accident with no insurance AAA we buy any car repairing the vehicle car parts and components buying a used car CarFax Reports sell your high mileage vehicle Dr Harrington average tow & storage bill Call DamageMAX now! repairs towing company selling their wrecked cars selling a damaged vehicle repair providers buy any wrecked vehicle Problem vehicles selling their damaged car insurance check salvage title vehicle buyer of damaged vehicles owner retained vehicle's value DJ Harrington car for top dollar damaged vehicle replacement junk cars Honda Top Dollar DamageMAX Difference trade top dollar for your damaged vehicle CarbuyerUSA auto body collision repair buy damaged cars sell your damaged vehicle liability only problem truck vehicle for cash fast flood damaged cars Used vehicle values Dr. Harrington sell your vehicle as-is wrecker services storage or tow yard value sell your wrecked car online auto insurance coverage sell a wrecked vehicle Selling your wrecked vehicle damaged vehicle for cash consumer awareness sell junk cars buys your wreck D.J. buy a car administrative fees repair the wrecked car un-repaired collision Sell DamageMAX your wreck repair bills Body shops repairing the wrecked car repair the vehicle Clean-Break TIP 12% in diminished value buy any car We Total Any Car flood vehicles car parts buy salvage title vehicles cash out of your wrecked vehicle collision repair free quote repair your wrecked vehicle diminished value fix your car wrecked car selling your damaged vehicle title processing procedures We buy damaged vehicles trade-in buys wrecked cars selling your wrecked car Maximum Value for damaged vehicle buys any car sell your Honda diminished value trends high mileage vehicle DamageMAX.com wrecked car experts cash only damaged cars selling a wrecked car insurance company sell the car buy vehicles sell your car repairing your wrecked car Donate Your Wrecked Vehicle collision repairs damaged vehicle repair an old or worn out vehicle wrecked your car buy your wrecked vehicle vehicle wrecked call DamageMAX buy your car for cash immediate cash offer legal for less sell your old car wrecked truck car into cash broken vehicle repair check reduction of resale value car buyers selling totaled vehicles wrecked vehicle sell car parts selling flood damaged cars old car buy your car pre-cash value damaged vehicle purchases trade in how much it costs owner retained vehicle repair orders cash for your wrecked vehicle buyer of wrecked cars sell junk car repair a vehicle junk CarFax settlement check buy the damaged vehicle buy damaged vehicles DamageMAX CAR-Diologist used vehicle trade their damaged car sell your wrecked car

Archive



    GET A MORE PRECISE OFFER

    Does your car have body damage ?

    Number of airbags blown?

    Do you have a collision estimate?

    What is your insurance deductible?

    Is your car drivable?

    Do you have the car’s title?

    Does the vehicle have a salvage or rebuilt title?

    Does the vehicle motor run?

    YOUR CASH OFFER!

    CASH OFFER FOR YOUR
    DAMAGED VEHICLE

    $
    Fair market value prior to accident $


    Sell my damaged vehicle
    Check for my vehicle AS-IS

    This represents a cash offer for the vehicle as described by the seller.

    $
    Net Repair Check

    Proceeds for repairs that can be used for purchasing a replacement vehicle.

    $
    Deductible Payment

    Amount you save if you sell the car now

    $
    Cash Toward a New Vehicle
    $
    Out of Pocket Expenses
    ($0)