Buying your salvaged title car, back from the insurance company
If your car has been declared a total loss by your insurance company, you may be able to buy it back. The process of buying back a totaled car can be complicated and depends on your state’s laws and the insurance company’s policies. Here are some pros and cons to consider:
Pros:
- You get to keep the car.
- Save money by buying back your car instead of purchasing a new one.
- Part out your car and sell the parts for a profit.
Cons:
- Your car may have hidden damage that may not surface initially.
- Having a salvaged title, can potentially make it difficult to sell or insure.
- More likely than not, responsibility for the repairs will remain with you.
If you decide to buy back the car, you will need to contact an appraisal company to determine the value of your totaled car. You can also negotiate with your insurance company to determine the cost to keep your salvage vehicle. Keep in mind that the process of buying back a totaled car can be time-consuming and may require a lot of paperwork.
Lee’s Paint & Body can help determine the value of your car by providing a certified automotive appraisal accepted by insurance companies like: Hagerty, J.C. Taylor, Grundy Insurance, State Farm and more.Contact us Today to schedule an appointment to appraise your vehicle.
Be sure to check out our Collision & Claims F.A.Q.’s for more information about some frequently asked questions regarding automotive collisions and insurance claims.
