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What to do With a Totaled Car

If you do not know what to do with a totalled car, you have come to the right place. When they total their car, most people panic since they do not know what to do with them. A totalled car cannot be driven, but it is a good source of money when you are planning to replace it. When a car gets totalled, insurance companies will look into the case to find out how much they can offer in settlement. You can also use your vehicle to generate more money apart from insurance. You can click this website to discover more about what to do with a totalled car. See here for more info.

Check with your insurance company. Insurance companies are expected to compensate you for any losses if you total your car and you should contact them in case it happens. The first to make a comparison of the total costs to see if they are going to repair the vehicle or if it is going to cost them more than what the car is worth. You should remember that how much you get depends on how your vehicle was totalled. Additional coverage if you get into an accident or else the insurance money will not do much for you. The first option that insurance companies will take is repairing your car, but they do prefer replacements if repairs are not possible. Insurance companies only offer compensation that is equal to the value of the car, and it is upon you to pay off any loans you may have on the vehicle.

Scrap the vehicle for cash. There is no easy way to get money for a totalled car than this. If scrapping a car is your only option, a company stops over to haul it for you. The company then melts your vehicle and makes money from selling the metal. However, you will not get much money from scrapping a totalled car, and it should, therefore, be your last resort.

Sell the car to an auto company. It is better to sell your car to an auto company as compared to scrapping it. Auto companies use totalled cars for many different projects. You can sell your car to a company that offers a good amount instead of being lowballed by a scrapyard. There are some parts that auto companies remove from your car regardless of its size or shape. It is a win-win situation for both parties since you get to walk away with a better amount while the company expects for other projects.

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