A totaled car is not only a major inconvenience, it can also raise a number of questions you've never had to deal with before. From insurance company jargon to the state of your finances, it's an experience that can make otherwise rational people make decisions that actually work to their disadvantage.
Before you do anything else, consider the following about when and how a car is declared a total loss, and what you can do about it. You might be able to sell your totaled car for more than you think.
There are some insurance companies that allow you to keep a totaled car. In this case, the insurance company will pay you the predetermined value of the car minus the policy deductible minus what the car would have fetched at the junkyard or auction (AKA the salvage fee.)
If the insurance company value is less than what you still owe on the car, you will still be responsible for those payments. If you have GAP insurance, this insurance will go toward a lienholder if it's a financed car. Or you can skip all this hassle, and sell your totaled car to CarBrain without dealing with the insurance company — and you may even get more for it. Get your guaranteed offer now.
The adjuster also takes into account the state of vehicle: miles, wear and tear, and and the options and trim level of the vehicle. For instance, a totaled Honda Civic with 150,000 miles might not be worth as much as a totaled Mustang with 10,000 miles. Based on all these factors you have to decide what to do with your totaled car.
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To get the most value out of your totaled car, checking the value at different places isn't a bad idea. When you sell a totaled car you are getting money with no hassle, and often you might be able to get an insurance payout and sell it afterwards. Ultimately, what you decide to do with your vehicle is up to you, whether you choose to sell to a private party, settle with your insurance, repair it yourself or scrap it for parts. But that decision probably isn't going to be very easy to make.
Maybe you have a deep attachment to your car, maybe you're emotionally shaken after the accident, or maybe you just don't want to deal with the hassle. But the fact is that it's usually not a good idea to try and fix an a car that's been totaled. Trying to skimp and save on the repairs will typically make the car less safe on the road, and fixing it properly will likely cost far more than you realize. Selling it on your own will also eat up much of your time and effort, from taking photos to meeting potential buyers.
We give you a cash-value offer, and then let you decide what to do next. Even if your car is in less-than-perfect condition, we can usually get you an offer in just 90 seconds (or less!) All we require is the keys and the title. If your car isn’t paid off, we may be your only chance at getting a cash-value offer that's actually beneficial. There's no haggling, no justifying, and no selling. It's fast, easy, and guaranteed! You can get your offer now to see how much your car is really worth.
In the unfortunate event of a car accident we all seek the reassurance of compensation for our totaled cars but, “Will the insurance pay enough for my car?” “How do they determine my total loss value?”
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Handling a totaled car can be a stressful situation. Most car buyers like dealers and the local community are not interested in vehicles like this and your only immediate option is the junkyard. Are there any alternate options on what to do with a totaled car?