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

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

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)