I Totaled My Car: What Are My Options?

You’ve been in an auto accident, and while you walked away unscathed, your vehicle did not. Dealing with the physical aftereffects of a collision is one thing; having your car totaled is another. Here, we’ll explain the process and go over your options for a totaled vehicle.

Your Vehicle’s Been Totaled: What Does it Mean?

While a vehicle may look fine to an untrained eye, an auto insurance company may still deem it a total loss. It doesn’t necessarily mean that repairs are impossible; it implies that the cost of those repairs would exceed the vehicle’s value. When your car has been totaled and you’re not sure what to do, the team at allcarbuys.com can help.

Repair costs aren’t the only thing insurers consider when determining a crashed vehicle’s fate. They also consider towing and storage fees, rental car costs, and other expenses that typically accrue during the repair process.

What Will an Insurer Pay for a Totaled Car?

After you’ve notified the insurance company of the accident, they will send an adjuster to appraise the vehicle. If it’s considered a total loss, the insurer will determine the car, truck, or SUV’s cash value based on the adjuster’s estimate. To determine that value, the adjuster or appraiser will research the values of comparable vehicles in the area.

The insurance appraiser will also consider the vehicle’s make, model, options, mileage, level of customization, and other factors. After they’ve figured out how much a dealer would charge for the same vehicle, they’ll add in other costs accrued during the purchase process, such as taxes and registration fees, before arriving at the final value.

When the Insurer’s Offer is Too Low, Options are Available

In some areas, the insurer’s decision isn’t final, and you may be able to appeal it. If you’ve decided to do so, there are options including:

Accept the insurer’s decision. It’s one of the easiest options, and it may involve replacing the totaled vehicle with one that’s comparable or offering a cash payment equal to the vehicle’s value.
Leave the car like it is. In some instances, a ‘totaled’ car can still be driven—and that’s just what many people do. It’s a worthy consideration for those who lack comprehensive or collision coverage, and if you go this route, be sure to have the vehicle inspected for safety.
Donate it. Donating a crashed car to charity is another good option. Several organizations accept donations in support of their operations.
Sell it to a salvage yard. If you’re not looking forward to selling for parts or accepting a low insurance offer, selling to a salvage yard is another option. Junk car buyers pay cash, and in most cases, they haul cars away free of charge.

Before deciding whether to keep or give up your totaled vehicle, be sure you’re not making decisions from an emotional standpoint. Maybe it’s the first car you’ve ever bought with your own money, or perhaps you’re reluctant to sell it after it kept you safe for so long.

Learn All the Facts and Make an Informed Decision

No matter how attached you are to a vehicle, it’s important to stay objective when deciding what to do after it’s totaled. If the insurance company’s offer is too low and repairs aren’t an option, a local junk car buyer may be able to take the vehicle off your hands simply and reliably.