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

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

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)