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

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

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)