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

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

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)