Dealing with a Totaled Vehicle
You have to think of recycling a car when it becomes totaled. You will find so many cars which are subjected to this process, they make for a significant contribution to the steel used to make new cars. For those whose cars have been through an accident, here are the things you can do about the situation.
You can for one accept the settlement offer. Insurance companies rate a car as totaled when the cost of repairing it is beyond half the value of the car. The figure can differ, depending on the insurance company in question. If yours was affected as much, the responsible insurance company would offer you the cash value of the car. If you accept, you will collect the cash, and the company keeps the car.
You can also keep the car and try and fix it. If it was an older car, its present value would be too little to receive any settlement offers. You can, therefore, keep it and do the repairs. Filing a claim is asking for it to end up with a salvage title instead. You will effectively not manage to sell to anyone in the future, especially when they see that title.
You can also keep the car and not do much about the repairs. It is an option in case the damage to the car is only superficial, and so does not affect its drivability or safety. You can see this in a car that has a large scratch on the side and the insurance company refusing to do anything about it. You can still drive the car with such a mark on it.
You can sell the car for salvage. When you find the offers from the insurance company are not worth it, you have the option to sell it as junk for cash. There is the option of stripping it for parts and selling those, or selling it whole to specific companies. You only need to let them know of the car and its condition, where they will make you an offer. Once you agree to it, they will come to tow the car, and leave you with the cash.
Among these options, you will not miss a solution to your totaled car dilemma. The range from driving the car as it is to sell it for parts ensures you never lack for options. In between you can consider what the insurance company has to offer, and see if it makes business sense.
You can turn to this website, to read more about the steps to follow when it is only about repairing the car.