totaled car

by Guest » Thu Mar 27, 2008 06:48 am

if my insurance company totals my car because it would be more money to repair it than the kelly blue book says it is worth ,can I buy my car back and have it repaired and be legal by driving it , my main issue is will I still be leagal

Total Comments: 8

Posted: Wed Mar 26, 2008 09:30 pm Post Subject:

I know of no law that requires them to offer you the right to buy the car back. Once they have settled with you for the car, it is no longer your property it is theirs to do as they wish. (Hence the phrase buy back)

I know one carrier that I worked for that would never let the owner of the vehicle retain salvage... they did not want the problems if somehow the vehicle ended up back on the road with a clean title by either mistake or forged. If that vehicle would end up in an accident they could get tied up in legal fees for a lawsuit (deep pockets).

I also do not see them letting you buy back the vehicle for 1,200, if you can get 4K+ for it. They would want to get as much money for it as they can, and they would want the 4K. To be honest, the only way I used to allow people to buy the car back was if it was going to cost more to move it and sell it then the insurance company could actually get at sale.

My guess is if they told you they can't allow you to buy it back, then this is most likely their rule. If they said won't... then they are just being mean.

I would just ask them why they can't and they will most likely explain it to you.

Posted: Wed Mar 26, 2008 10:08 pm Post Subject:

I think this is a state, and also company thing....in my state the owner always has first option of retaining salvage...

I also do not see them letting you buy back the vehicle for 1,200, if you can get 4K+ for it. They would want to get as much money for it as they can, and they would want the 4K.

This too depends on the individual companies procedures for determining salvage value...I've worked some that have a salvage contract with a yard, where it is a set percentage...the way it works right now with the company I work for now is, i have to call IAA (ins.auto auction) and get a 'salvage quote' they look in their data base and give me an average sale amount of the same year/make/mode/and even hit/amount of damage .... so I can see it's entirely possible that the op's company is doing a (let's say) 20% salvage value...and they may very well be able to get more than that...

Posted: Thu Mar 27, 2008 07:50 am Post Subject:

If that vehicle would end up in an accident they could get tied up in legal fees for a lawsuit (deep pockets).

..any ballpark figures??

Posted: Thu Mar 27, 2008 10:08 am Post Subject:

any ballpark figures??

about what? the salvage value or your vehicles value? what? The deep pocket thing the other poster was talking about was some carriers won't (apparently) allow an owner to retain salvage because they are concerned that they the carrier (deep pocket) could be held liable for another accident in the formerly totaled vehicle (i personally don't agree)...please explain more about what ball park you mean..

I'm sorry your OP ask if you could legally repair and drive your vehicle...yes you can it will always bare a salvage or prior salvage title thus making it worth less should it 'total' again...you will need to check with your state DMV and see what must be done re:rebuilt salvage vehicle...

Forgot to add as well I know of no insurance company that would use the Kelly book to determine a vehicles value.

Posted: Fri Mar 28, 2008 11:55 am Post Subject:

the salvage value or your vehicles value?

..rather a measure of legal fees for such lawsuits..

Posted: Fri Mar 28, 2008 12:10 pm Post Subject:

oh, sorry didn't understand...these types of cases are usually taken by an attorney on a contingency basis, attorney gets a percentage (usually around a third if it doesn't go to trial)...if nothing is collected/won, then the attorney gets nothing as well...

Posted: Wed Mar 18, 2020 07:56 am Post Subject: More leads for your business from Google

COVID-19 UPDATE

We will continue to provide our clients and partners with the same level of customer service

you are accustomed to. Our team of designers has always been home-based, working remotely.

Please stay safe and look after your family, friends, and neighbors. We will get through

this.
-----------

Hi, this is Tom at Fast Website.

We specialize in helping businesses get a professional website in just a few days. We also

do website makeovers to give your website a fresh new look for 2020.

Our promo website is https://fastfixer.net

Right now, we're offering a FREE HOME PAGE MOCKUP so you can see how your new website will

look BEFORE you buy. You won't need to visit anybody, we'll create a new website for you

remotely like we've always done. stay indoors and stay safe, but think about improving your

business now.

Our free mockups look like this:
https://fastfixer.net/free-mockup

We'll send you your free mockup for your approval. If you like it we'll create your full

website in just a few days.

I can help you get your free mockup. Just call me at 219-215-3705.

I'll show you website designs with the features you want already built-in. This saves you

time and money. Our main goal is creating a site that will generate leads or sales for you.

We'll design your website to include the keyword phrases people use to find your product or

service. I'll ask you what those keywords are. This gives you valuable free traffic from

Google and Yahoo, and helps your business show higher than your competitors in search

results.

Plus, when you use our fast hosting service we include free maintenance (changing images

and text as needed.) This is a big benefit to you. We'll keep your website up-to-date.

My name is Tom. Give me a call at 219-215-3705. I'll help you get a new website for 2020.

Posted: Wed Mar 18, 2020 10:53 pm Post Subject: More leads for your business from Google

Total Comments: 8

Add your comment