What to Do when your Car is Totaled
Once a car has been totaled, the option of recycling it makes the most sense. 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. If yours has been through an accident, here are some of the things you can do with it.
our first option is normally accepting the settlement offer. For insurance companies, a car is dismissed as totaled if the cost of repairing it amounts to over half the value it holds presently. The figure is not necessarily universal, with different companies sticking to their preference. Where this is the case, you can expect the insurance company to offer you the value of the car in cash. If you go with it, they will give you the cash as they keep the car.
There is the choice of keeping the car to fix later. It is what you do when dealing with an older car, whose value cannot generate a decent settlement offer. It is best to keep the car and do the repairs yourself. Filing a claim risks you get 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. If the car sustained superficial damage, and can still move as normal, you can keep on using it. A case of the car having a large scratch on the side and the insurance company being unwilling to do anything about does not prevent you from driving the car with that scratch present. You can still drive the car with such a mark on it.
The car can also be released on salvage grounds. When you find the offers from the insurance company are not worth it, you have the option to sell it as junk for cash. You can strip it for parts and sell them individually, or you can go with the option to sell it as a whole. You only need to let them know you have a car that is ripe for parts, and they will make you an offer. If you accept their offer; they will then proceed to come to collect the car, leaving you with the cash.
These options cover what you can do with a totaled car in diverse situations. From continuing to drive the car as it is to sell it for parts, you have so many options. You also have those offers from the insurance companies, which should only be considered if they make economic sense.
You can also go to this website, to learn more about what to do when the car only needs repair, to help you manage that situation effectively.