what percentage does ins. use to determine if car is totalle

by judysmith180 » Mon Jul 25, 2011 10:54 pm

purchased car for 37,000. car two weeks old with under 800 miles, rear ended, estimate for body work 15,000. no estimate for engine yet. car runs

Total Comments: 2

Posted: Mon Jul 25, 2011 11:03 pm Post Subject: percentage ins. co. use to total a car

purchased car for 37,000. two weeks, under 800 mile, rear ended, estimate for body work 15,000. no estimate for engine yet, car runs

Posted: Mon Jul 25, 2011 11:56 pm Post Subject:

A vehicle is usually considered a total loss when the cost to repair is 80% of its value. You are well under 50% at this point.

If you want it considered a total loss think about this... that vehicle you paid $37,000 for 2 weeks ago is worth about 20% less right now.

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