Can you keep a totaled car?

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PostPosted: Tue Jul 14, 2009 5:15 pm   Post subject:   

It isn't necessarily a percentage as a few of the adjustors on the site have explained. It depends on what the salvage bid is, and it also depends on the Actual Cash Value of the vehicle. Few companies use Kelly Blue Book. Although your vehicle has relatively high miles for its age, it probably isn't considered so excessive that it would dramatically decrease the value (there will be a mileage adjustment).

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PostPosted: Tue Jul 14, 2009 10:46 pm   Post subject:   

NEED HELP!!



Without knowing all the options and running it as a 2wh drive, w/ 79k, I'm still getting an ACV of 21,100.00 so it's going to take quite a lot to total it.



Some (not all) states have percentage laws on the books, meaning a vehicle MUST total if the cost of repair is 70-75-80% of the vehicles ACV (actual cash value)...But also (as Chris pointed out) it will total if the cost of repair is more than the ACV minus the salvage value.



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PostPosted: Wed Sep 30, 2009 7:51 pm   Post subject: Also screwed by an accident  

So, this year, I was involved in an accident. Not my fault, but my loss. I was 11 mos away from paying off a pos ford taurus. All I wanted was to keep the car because I want out of the debt cycle. Making payments for a car is a trap, plain and simple. Well, the accident caused only cosmetic damage, yet due to the mileage and model of the car the damage was more than the ACV.



Problem 1: The insurance company 'totaled' the car, but would not give me a check without the title aka 'Proof of Legal Ownership'.



Problem 2: The lien holder or 'legal owner' would not release the title and allow 'owner retain' of salvage.



Problem 3: The insurance company gave me two options to keep or remove the car, but would not pay without bank's consent.



Basically a catch 22. So now, I am having to argue between two entities who say 'not me' when I ask whose at fault for taking my car. I am stuck between an institution that is supposed to take care of my loss cause by their client, and a bank who will not accept payment if I retain the car.



The bank get's their money, the insurance company gets my car, and I get nothting but the pain of going back into debt, and a 'sorry that's how it works'.



I am so angry that I am willing to quit being civil and start sueing everybody and their mother


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PostPosted: Wed Sep 30, 2009 10:52 pm   Post subject:   

Quote:
a bank who will not accept payment if I retain the car.
Apparently the amount that the carrier would pay (if you retain the vehicle) is not enough to pay off the note is that correct? That's the only way I can think of that the leinholder could/would refuse this...tell ya' what...what is your pay off? what is the amount the carrier will give you if you retain the salvage? Let's see if we can help you figure something out...also what state are you in?


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PostPosted: Thu Oct 01, 2009 11:05 am   Post subject:   

My touring caravan was wrote off last year and the insurance did not pay out. I complained and complained and finally my claim was granted. This is related to car insurance and any other type of insurance as if you choose the wrong policy options they could sting you in the future. I would not take out touring caravan insurance again without reading the t&c's fully!

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PostPosted: Thu Oct 01, 2009 12:40 pm   Post subject:   

It is the insured's responsiblity to make sure they have all the coverages they want, with the correct limits.



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PostPosted: Sat Oct 03, 2009 12:36 pm   Post subject: structurally sound  

My slight problem is simple. I was involved in an accident where the only damage to the car is minor damage to the drivers rear fender. No wheel damage, trunk still opens closes and seals, doors still open, no tail light damage, no windows broken. I am a full time student, full time employed, and full time single father, and not enough money to get another reliable car with the money they want to give me for my "totaled" car. what do I need to do keep my car if the claim has already been filed? I did not know I would have to go through all this crap when I turned it in.


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PostPosted: Sat Oct 03, 2009 12:41 pm   Post subject:   

Honey, do you own the car out right? If so tell them you want to retain the salvage. They will deduct the salvage amount and your deductible from the vehicles ACV (actual cash value). And give you the rest, bing, bang bom, you're done. Depending on the state and the age of your vehicle it may have to be re-register as a salvaged vehicle. Check your state guidelines for what is required, (unless you live in MO and I know them Wink )



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PostPosted: Sat Oct 03, 2009 12:56 pm   Post subject: just checking  

Re-register? Is that going to be part of the salvage title stuff where they say I have to turn in my existing title? I'm trying to check into the state guidelines but I seem to be getting everything I don't need. Any ideas? As you can tell, I don't have a lot of time for jumping through hoops to get this resolved.


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PostPosted: Sat Oct 03, 2009 4:45 pm   Post subject:   

Quote:
Re-register? Is that going to be part of the salvage title stuff where they say I have to turn in my existing title?
yeah, most likely every state is different..
Quote:
I'm trying to check into the state guidelines but I seem to be getting everything I don't need. Any ideas?
honey, post the state the vehicle is registered in and the year of your vehicle and I'll see what I can find...also do you have a lein on this, or do you own it?
Quote:
As you can tell, I don't have a lot of time for jumping through hoops to get this resolved.
I know, I don't think anyone does...let's see if I can help you some..post state, and yr/make of vehicle


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PostPosted: Sat Oct 10, 2009 12:34 am   Post subject: quote on a car  

I have a 1963 ford mustang that is totaled. I just need an estimate on what I should expect from my insurance.


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PostPosted: Sat Oct 10, 2009 3:19 pm   Post subject:   

Depends 100% on the condition of the vehicle

Teresa



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PostPosted: Thu Oct 29, 2009 1:30 am   Post subject: feel unfair  

I have a 2006 car in 2006 my car was sold to me for 19k I paid 13k already and the insurance company deamed car loss and gave cash value of car 6k which was just enough to pay it off, my question is i dont think its fair that i paid more into the car and the insurance company paid only 6k and they get to keep car, i feel i paid more i should get to have it or aleast be able to buy it back so i can choose later if i want to get it repair and use it as second car.


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PostPosted: Thu Oct 29, 2009 5:28 am   Post subject:   

I didn't quite understand in which sense you've come to conclude that you paid more. The car was sold to you for 19k in 2006, which is true. On the other hand, it has depreciated since then, which is also true.

Did you propose a buy back to your insurance carrier as yet?

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PostPosted: Thu Oct 29, 2009 12:46 pm   Post subject:   

anonymousmama, You thinking is all messed up the what is owed for your vehicle..I'll explain that if need be...



You can keep/buy back your car, as the owner you have first option to do that...Talk with your adjuster about it.



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