Wrecked Car Damaged Vehicle Blog

RSS Grab DamageMAX RSS Feeds

Was your Car Totaled? Should you keep the vehicle?

Joseph Coupal - Friday, November 23, 2012

"Owner retained" is a term you've probably never heard. Of the 4 million vehicles totaled every year in the United States, 1 million are "retained" by the "owner". They choose to actually keep the wrecked car rather than sending it to the scrap heap. Why? The owner knows the car better than the insurance company and thinks it can be either repaired or sold at a profit.

If the owner is automotive savvy, this is often the case!

Below is a typical situation:

  • You've been in a car accident
  • The insurance adjuster estimates damage of $8,500
  • Your vehicle's pre-crash value (ACV) is $10,000
  • Your state has an 80% damage threshold for declaring vehicle a total loss
  • At 85% ($8,500/$10,000), your vehicle is declared a total loss by your insurer
  • The insurance company estimates your vehicle is worth $500 post-crash (salvage value)

You have 2 options:

  • Take the $10,000 less your deductible ($1,000) and pass title to your insurer
  • Take the $10,000 less your deductible ($1,000) and salvage value ($500) and keep your car (with a salvage title)

In the second option, you are essentially taking the settlement and buying your damaged car from the insurance company. You may choose to repair the car or sell it. If you choose to sell it, DamageMAX will buy it - you pocket the profit!

How does DamageMAX pay you more for your owner retained vehicle than your insurer? Your insurer wants to settle the claim quickly and usually discounts your "owner retained" vehicle to encourage you to settle. This can be your advantage - contact DamageMAX to find out how much we will pay for your "owner retained" vehicle.

DamageMAX pays MAXimum Value for your Damaged Car!

Call 888-629-2137 24 hours / 7 days for a free quote on any damaged vehicle


Recent Posts


Tags

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

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)