Options to Consider after a Car Accident
Once a car has been totaled, the option of recycling it makes the most sense. The number of cars that go through this process is staggering, giving off plenty of steel for use in making new cars. For those whose cars have been through an accident, here are the things you can do about the situation.
You can for one accept the settlement offer. An insurance company will determine a car to be totaled if they look at the cost of repairing it and find it to be around the halfway mark of its present value. The figure is not fixed, with different insurance companies interpreting it as they see fit. 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. You can, therefore, keep it and do the repairs. If you file a claim, it may end up with a salvage title instead. You will effectively not manage to sell to anyone in the future, especially when they see that title.
There is the option of keeping the car, and not bothering with fixing it. It is an option in case the damage to the car is only superficial, and so does not affect its drivability or safety. It, for instance, may have a large scratch on the side, which the insurance company is not willing to settle, but does not affect the mechanics of the car nonetheless. You can, therefore, decide to live with that scratch in place.
The car can also be released on salvage grounds. After receiving offers that are too little to justify the input of the insurance company, you can instead go with the option to sell it as junk for cash. There is the option of stripping it for parts and selling those, or selling it whole to specific companies. You only need to let them know of the car and its condition, where they will make you an offer. Once you agree to it, they will come to tow the car, and leave you with the cash.
These options are the perfect way for you to deal with a totaled car. The range from driving the car as it is to sell it for parts ensures you never lack for 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.