Car deemed 'totaled' - what are my options (1 Viewer)

[bweiser]

For any insurance people out there who might be able to help.

We had an ice storm about 3-4 weeks ago. Tree branches fell and damaged the roof of my car. I have a convertible and there are several holes in the roof.

Appraiser came out and estimated damage at $4,800 - he claims there is body damage; I don't see it.

Insurance company values car at $4,300. They want to 'total' it.

But it still drives. And runs good.

And I am still paying it off.

Am I, as the girl in Planes, Trains and Automobiles says '####ed.'

Would really prefer to keep the car and not have to deal with the headache of buying another car just a year after getting this one.

 

[Limp Ditka]

pm shuke

 

[T Bell]

pm shuke

####er beat me to it

 

[ntz08]

A) take 4300 - whatever you still owe and find a new car

2) take above amount, purchase car under salvage title, have car fixed

 

[BroadwayG]

Take the 4300 and keep the car.

 

[bweiser]

Take the 4300 and keep the car.

Now, is that really an option? I mean, I'm guessing the insurance company would drop its coverage ... But when they hand me the check, aren't they expecting to take ownership of the car? If they aren't, then, yes, this is the route I am going.

 

[shadyridr]

Take the 4300 and keep the car.

Now, is that really an option? I mean, I'm guessing the insurance company would drop its coverage ... But when they hand me the check, aren't they expecting to take ownership of the car? If they aren't, then, yes, this is the route I am going.

yeah thats not an option. There is a salvage price which is a lot less and then you can keep the car

 

[[icon]]

A) take 4300 - whatever you still owe and find a new car

2) take above amount, purchase car under salvage title, have car fixed

Exactly.

 

[James Bond]

I had a similar thing happen to me. They told me I could take the settlement amount less the salvage value (which wasn't much) and repair the car myself. In most states that results in a salvage title.

 

[arrow1]

A) take 4300 - whatever you still owe and find a new car

2) take above amount, purchase car under salvage title, have car fixed

Yes

 

[17seconds]

Take the 4300 and keep the car.

minus $5 for a roll of duct tape

 

[STEADYMOBBIN 22]

They will give you the car and a check, minus about $1200.

ETA- WAIT- you're still paying a car note on a car that has a blue book value of $4300???????

 

[bweiser]

Take the 4300 and keep the car.

minus $5 for a roll of duct tape

duct tape was $7 at home depot

 

[17seconds]

They will give you the car and a check, minus about $1200.

ETA- WAIT- you're still paying a car note on a car that has a blue book value of $4300???????

Some people get a loan on a used car