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

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

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)