Quote:
Originally Posted by Opie
Buying from the insurance company is more difficult than people think.
If you really want to keep it, you have a few options, each has its pro's and con's
1. Let them total it and try and buy it back
Pro's: You are familiar with the car
Con's: The price they sell if back to you for is usually not as low as you'd think, some insurance companies will not sell them back at all. Car will be branded with a salvage title, depending on your state, to get it titled (rebuilt) again may require you to repair all the damage (or if it will never see the street again, you can leave it salvage).
2. Cancel the claim
Pro's: Title still clear
Con's: Have a damaged car...could fix yourself....
|
All of my buy backs were super easy. They just took the book value and subtract it from the repair cost. In every case I found a body shop that fixed it for like 1/3 of the quoted repair cost from the adjuster. My title remained the same, but the accident did show up on the carfax. Just my personal experience, but everything worked out in my favor.