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

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

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)