Dealing with a Totaled Vehicle
You have to think of recycling a car when it becomes totaled. The number of cars that go through this process is staggering, giving off plenty of steel for use in making new cars. For those whose cars have been through an accident, here are the things you can do about the situation.
You can for one decide to go for the settlement offer. Insurance companies rate a car as totaled when the cost of repairing it is beyond half the value of the car. The figure is not fixed, with different insurance companies interpreting it as they see fit. If yours was affected as much, the responsible insurance company would offer you the cash value of the car. If you accept, you will collect the cash, and the company keeps the car.
You may decide to keep the car and fix it. It is what you do when dealing with an older car, whose value cannot generate a decent settlement offer. You can keep the car and attend to its repairs. Filing a claim is asking for it to end up with a salvage title instead. Such a title keeps you from managing to sell it in the future if you wanted.
You can also keep the car and not do much about the repairs. If the car sustained superficial damage, and can still move as normal, you can keep on using it. It, for instance, may have a large scratch on the side, which the insurance company is not willing to settle, but does not affect the mechanics of the car nonetheless. You can, therefore, decide to live with that scratch in place.
The car can also be released on salvage grounds. After receiving offers that are too little to justify the input of the insurance company, you can instead go with the option to sell it as junk for cash. You can strip it for parts and sell them individually, or you can go with the option to sell it as a whole. You only need to let them know of the car and its condition, where they will make you an offer. If you accept their offer; they will then proceed to come to collect the car, leaving you with the cash.
These options are the perfect way for you to deal with a totaled car. The range from driving the car as it is to sell it for parts ensures you never lack for options. In between you can consider what the insurance company has to offer, and see if it makes business sense.
You can also go to this website, to learn more about what to do when the car only needs repair, to help you manage that situation effectively.