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

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

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)