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

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