Car total loss with a lost title?
Insurance accepted liability and is giving me 7000 dollars in cash. I bought the car for 5000 but dmv never mailed me a new title probably got lost somewhere. I reapplied for a duplicate title last week... DMV says it will take two weeks to get here, so I have to wait. Insurance mailed me a duplicate title to filled out, but I already filled one out at the dmv. My adjuster want to get it done ASAP, so she can cut me a check and work on other cases. If it takes too long, can the adjuster change its mind about cutting me a check for 7000? I've recorded the voice and everything. Thanks.
Total loss on record, but title clear?
Total loss would be labeled from the insurance company, that would mean that the damage done to the car was more than a certain percentage of the cars overall value, making it pointless for the insurance company to repair the vehicle. Because the new owner registered it with a clean title that more than likely means he bought the car wrecked from the previous owner and fixed it (or the previous owner used the insurance check to fix the car and then sold it to the new owner) either way if the title is now clean, that means that the damage was repaired by someone who turned in all the repair records to the state and had the title remade us a clean title. I would be a little cautious as to making sure the damage was repaired correctly, normally it would have been done by someone who knew what they were doing, but there are cases where people know people who know people.. if you get my drift. If I were you I would call the Department of Motor vehicles to double check and be sure that once a car is considered a total loss with a salvage title that it can be repaired with the right forms and be reinstated as a clean title. Hope that helps, and best of luck!
Can I re-title the car in California?
Hello everybody, I recently stumbled upon a 1994 Toyota T100 with minor front end damage, and extremely low mileage. But there's an issue, the vehicle is located in New York and has "NY-MV-37 DISMANTLE OR SCRAP" Title which it says, "FROM MV-37 STATEMENT OF ABANDONED VEHICLE marked THIS VEHICLE MAY NEVER BE TITLED AGAIN. IT MUST BE DISMANTLED OR SCRAPPED." I live in California, so would this mean I can't Drive it here? Or am I forced to Dismantle it or scrap it? Down below I attached a photo of it so you can the minor damage.
What happens when insurance deems a car a total loss with no title?
I got into a wreck the other day, and it wasn't my fault. I was driving a 99 Cavalier, but with alot of upgrades on it such as a body kit, underglow, ect. There car sustained alot of damage to the rear end but still drives fine, the trunk just took alot of damage. The catch is my vehicle doesn't have a title to it. I just have a bill of sale from the previous owner. The second party's insurance company is on the verge of deeming the vehicle a total economic loss . 1) My first question is what are my options in this situation? All possible options. Please someone help I'm at a loss and am really confused.
If your airbags deploy is the car considered totalled?
Often but not always. A vehicle is deemed to be a total loss if the cost to repair the damage to a vehicle exceeds the Actual Cash Value of the vehicle. Actual Cash Value of a vehicle is what that vehicle could have been sold for (by the owner) immediately prior to the damage being incurred. When an airbag deploys it tends to cause quite a bit of damage; the cladding that covered the airbag needs to be replaced, the airbag itself needs to be replaced, the airbag sensor needs to be replaced, often windows are damaged and often the vehicle interior also needs to be cleaned. Additionally, in order for an airbag to be deployed a vehicle normally needs to first suffer quite a bit of crush damage, meaning that there are likely a number of cladding and/or structural pieces that need to be replaced (bumper cover, bumper pads/bars, fenders, hoods, cowls, grills, radiators, A/C condensers, etc.). All of these things add up to expensive repairs, which increases the probability that the vehicle will be deemed a total loss; however, it is not always the case. If the vehicle in question is a brand new Bentley there is a good chance that the heavy front end damage and interior damage we would expect from a frontal impact resulting in airbag deployment may not exceed the value of the vehicle (heck, when both my airbags deployed after a front end collision my vehicle wasn't a total and it was a 3 year old SAAB). Now, if we had the same damage on a 2010 Honda Civic then it is very probable that the vehicle would be a total. I once declared a vehicle a total loss because it had been keyed from bumper to quarter panel, which would have cost $1,100 to repair... the vehicle was an old beater with an ACV of approximately $750. It all comes down to the verbiage in your automobile policy that states "we will pay the lessor of repair or Actual Cash Value..." if the repairs exceed the ACV then it's a total loss.
Is it bad to buy a car with a salvage title?
Not necessarily.A salvage car is a car that has been declared by an insurance agency as a total loss. Most often, these are cars that have suffered damage to a degree in which that the owner’s insurance company decided that it would be too expensive to fix the car because the overall value of the car is close to being met or even exceeded by the costs of the repairs. Insurers will write off, or “total” a car in a situation like this, and will often offer a settlement to the car’s owner in exchange for taking the wrecked car off their hands.This, however, does not mean that the car has been completely wrecked, as in some cases even relatively minor damage may be considered to be too expensive to fix in a lower value car. In other cases, however, a car can be declared a total loss if it has been stolen and has gone unrecovered for a specific period of time.Cars in any of these circumstances become property of the insurance company and are reclassified as salvage. This means the car has to be issued a new title that lists its status as a salvage vehicle under state law. Insurers then take these salvage cars that they now own and attempt to sell them off to the highest bidder at a used car auction.While each state has different regulations, there are several aspects in common. The most important one is that you cannot get a car with a salvage title back on the road without repairing it first. This means that if you do buy a damaged salvage car at auction, you can’t drive it until it’s rebuilt to the point where your state will let it back on the road once more. For most people, this may seem like a bad deal.However, there are some advantages to buying and then rebuilding a salvage vehicle. First and foremost: buying a salvage car at auction can be incredibly inexpensive, as insurers just want the car out of their possession and are little interested in recovering their costs.Additionally, if you are going to restore the car yourself or otherwise absorb the labor costs, it will be much less expensive to repair the vehicle than it would have otherwise been. This makes it a solid investment if you want your own reasonably-priced used car as a daily driver or if you own a used car dealership and you’re planning to sell rebuilt salvage vehicles to customers.Reference: A Primer on Salvage Cars and Online Auctions - Auto Auction Mall
NC total loss claim/salvage REBUILT title trying to register in VA.?
So it sounds like you are trying to get a new rebuilt title on this car, in your name. It will ALSO be marked "salvage - rebuilt", so as you don't actually ask a question, maybe that's what you want to know. When you go to register it, you ALSO need the notification form http://www.dmv.state.va.us/webdoc/pdf/vs... and you will need both that form, and the title, when you go to retitle the car to your name. If your question is NOT one of these two things, you'll probably have to repost, and actually ask it.
If you're looking to buy a salvage title flood car, is it possible to get the total loss report from the insurance company? If so, how?
You would be surprised at how little information you would get.After a major flood many adjusters will just look inside a car see how high the water was and if it for example hit lower dash they will automatically total the car.Now this car may dry out start and drive just fine.But it will be totaled because of the potential of future electronic or wiring issues.It’s a quicker task than you would imagine.
What are the pro's and con's of buying a salvaged title car?
Well it's probably less expensive than one with a regular title (which is probably why you're considering purchasing it), but if it is a salvage titled vehicle then that means there is no current registration on it. Even if it looks like it has "good" plates, once it is declared a salvage vehicle the registration is canceled. You can re-title it and get registration, but the new title will always be "branded" as "Totaled-Reconstructed" Vehicles are generally declared totaled and branded this way when they have been damaged in an accident or something, and the cost of the damage exceeds the value of the vehicle, so the insurance company declares it a "total loss". Because your title will always be branded, the vehicle will always be worth less if you wanted to re sell it. People are often really hesitant to purchase vehicles with this type of title because of the reduced value, and because they know it has had significant damage. If you choose to buy this car you should be sure to have it inspected by a mechanic or someone that can tell how it has been damaged. If the frame has been damaged for example then you will probably want to walk away from purchasing it.
Insurance claim 'total loss' help anyone?
I was in an accident, it was the other drivers fault, their insurance is taking care of everything. The adjuster gave me a printed estimate of the repairs and read about 3k, they said the vehicle is a total loss.I beleive the vehicle is only worth about 2k. The car is paid for already. Now i want to know whether if i can still keep the car if its declared total loss? or do they have to actually take it from me? because thats what they want to do. They said if i wanted to keep the car i only would get about 1k for repairs and settle with that haha. Anyone any ideas? i'm thinking of getting a lawyer but anyone has input? Thanks,