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

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