Want to Know What You Can Do With Your Totaled Car?

If you’ve just totaled your car, hopefully you are well and in full recovery. But now, you have a damaged asset on your hands. What can you do with a totaled vehicle besides hand it over to your insurance carrier? Well, the truth is, there are many alternatives to accepting the insurance payout from your policy. Continue reading to learn what all you can do with a totaled vehicle.

Indianapolis Junk Car Buyers 317-608-2188
Indianapolis Junk Car Buyers 317-608-2188

☑ Repair

There are many cases in which an insurance company deems a car totaled because it costs more than 51% of the total cash value to repair it back to its original condition, yet, it is still repairable as a luxury or modern vehicle. You see, just because it is too much for the insurance company to pay to repair it, it may not be for you. You might decide that your 2018 Mercedes should be repaired rather than totaled out. The same theory applies to other luxury or newer vehicles that can be totaled as a result of something small, like a catalytic converter or cosmetic damage. Keep in mind, you have to get a rebuilt title and prove the car roadworthy. Otherwise, many automotive insurance carriers will not insure a rebuilt vehicle.

☑ Donate

If you want to be philanthropic, it would make sense to donate your totaled vehicle. Not only is this charitable, most automotive donation organizations will tow your vehicle away for free. Best of all, you will get certain tax deductions for the depreciated value of the car you donate. Keep in mind, you would have to first buy back the car from your insurance carrier before giving it away to a charity. In this case, your insurance carrier would deduct the vehicle’s salvage value, which generally hovers around a few hundred dollars, plus any policy deductible if the accident was your fault. In the end, you would get a check for the remainder, plus a salvage title.

☑ Sell

The most popular and lucrative option for a totaled car is to keep it, and then sell it to a local salvage yard for cash. As mentioned, if you decide to keep your totaled vehicle, you will have to first have to get a salved titled through your insurance carrier. Once you have the title and your vehicle is no longer insured under the carrier, you can choose a reputable Indianapolis junk car buyer to do business with. They will haul your car away for free, plus pay you cash on the spot. Just be sure you have the title, otherwise, it can be difficult finding a cash for cars company to do business with in the first place.

Indianapolis Junk Car Buyers at Your Service

Cash for Junk Cars 317-608-2188
Cash for Junk Cars 317-608-2188

Call GC’s Junk Cars at 317-608-2188 to sell your totaled car for cash in Indianapolis. We offer free towing with our in-house tow truck, so all you have to do is call and accept our offer! We will schedule a time to pick up your vehicle and pay you cash. No title? No problem! Give us a call anyway! Call 317-608-2188 to request a free estimate, today.

General Qualities of a Total Loss Car

If you have just walked away from a recent car accident scratch-free, but the same cannot be said about your vehicle, it is important to learn whether or not your car is a total loss. Continue reading to learn what it means to have a total loss vehicle, and what you can do if this is your current situation.

Sell a Totaled Car

Call Us to Sell a Totaled Car in Indianapolis! 317-608-2188

Total Loss Vehicle

A vehicle can only be deemed a total loss by the insurance company. An insurance adjuster will come out to inspect the vehicle and determine whether or not it is totaled. A total loss vehicle is one in which the cost to repair it back to the condition it was in before the accident is MORE THAN the market value of the vehicle before the accident. For instance, if your car is worth $3,000 on the current market, but after your accident, the total cost of repairs is estimated to be $4,400, then the car is totaled.

What To Do With a Totaled Car

You generally have two options when your car is deemed totaled by your insurance carrier. You can either file the claim to receive compensation from your insurance provider (the amount of compensation will depend on various factors, including your particular policy terms and the market value of your vehicle), or you can refuse to file it with your insurance and keep the car. If you choose to file a claim with your auto insurance carrier, they will take the vehicle, title, keys, and license plate out of your possession.

If you do not file with your insurance carrier and decide to keep the vehicle, you will receive a new car title that shows the total loss. This is called a salvage car title. You will need this salvage car title if you want to sell your totaled vehicle. You can choose to sell a totaled vehicle privately, among the local community, but you will have better luck selling it to a professional junk car buyer in your town. Depending on your policy benefits, you may get more money for your totaled car through an Indianapolis Cash For Cars Company, rather than an insurance claim.

We Will Pay Top Dollar for Your Totaled Car!

Cash for Junk Cars 317-608-2188

Cash for Junk Cars 317-608-2188

Call GC’s Junk Cars at 317-608-2188 to sell your totaled car for cash in Indianapolis. We offer free towing with our in-house tow truck, so all you have to do is call and accept our offer! We will schedule a time to pick up your vehicle and pay you cash. Call 317-608-2188 to request a free estimate, today.