Expert: Ron Cercone - 3/12/2010

Question
Hello Ron,
  I got in an accident recently, and the verdict was mostly the other person's fault. I took my car in to quote for the damages, and the verdict was a total loss. The opponent's insurance company said if it's a total loss, they will buy the car from me. I actually want to keep the car, but they said if I kept the card, if I try to sell it, it would show on the records that it was in a wreck. Currently the car is almost at 200,000 miles, so I think that it's time to buy a new car.

So my question to you is, what's the difference between being compensated for damages, and getting the car bought from you? Do I get less money if I keep the car? To give you an idea, the car's worth is around $3800, and the damages were $4000.

The big idea is to get the most money in the long run. So would it be beneficial for me to get a check to fix the car, but not fix the car because it's almost dead and then try to sell the car as is or take it to a wrecking yard?

Thank you for your time.

Answer
They are jacking you around.

First ask them what their total offer is if they take the car, so you get them to commit on the salvage value, because if you tell them now that you want the salvage, they will jack the salvage value up.

Then take the settlement and keep the car and they will deduct the salvage value. Don't sign any papers that say "total loss". You just tell the insurer and anyone else that you are going to fix the car. So no salvage certificate will be issued.

"Total Loss" is a judgment call and matter of opinion, especially when it's so close as in yur case. To get all the information on how to handle this, rental car and the valuation of your car, get the eBook at UClaim.com entitled "Total Loss Auto for Claimants". It's guaranteed and has free consultation with the author. It's a gift horse!