Why is my car considered totaled? (ABS, buying, warranty, electrical)
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Good deal for some buyer?...doubt it. The tech at the dlr is correct...toast is the word.
Okay...you buy the car and fix so called possible things electrical that have a lot of connections and functions to the computer etc. Now three months later...your at the mkt buying groceries...meat...frozen foods...place into the trunk area...climb inside...turn the key...turns over but will not fire up. Shoot...what to do...could be a women with small kids...you get the picture?.
I'm a retired mechanic and the son of a mechanic... while both of us are from the old school we could/did always have a toolbox in the trunk to make some roadside repairs if needed. Still have a small toolbox in my car today. Of course it is not a newer electrical headache and a lot cheaper to repair.
With todays electrical computer operated cars...no such roadside repairs can be done.
Naw...insurance adjuster knows his job from experience with other water logged cars.
Location: Still in Portland, Oregon, for some reason
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If my car ever got water damage, I would have to part with her and that's really the only circumstances under which I would do so. They are never right again, especially if it's gotten to the wires.
YES...A totaled car can be resold back to the owner by the insurance company for a old figure of $100 which later was raised to $200...not sure what it is today. In the case of a wrecking yard...they return any paperwork to the DMV (calif.). Any person wishing to purchase the vehicle from the wrecking yard has to repair it to current date standards before the DMV issues a "NEW title" marked "Salvage".
I bought a 63 VW KG that you would never know it had been a salvage car and I'm a VW mechanic of 28 yrs. Some people will dump a car for a small reason (money or knowledge) while it could be a treasure for those in the know.
Lot of body shops will purchase cars that are theft recoverys (over 30 days) from insurance companys. You need to have a Body shop license to be permitted to offer a sealed bid in a envelope on these cars. Many Porsches are stolen and stripped of there interior...later end up for sale in 60 days. Some may have body damage and many missing engines etc.
Salvage title will cover many different possibilites...good and bad. Could cover a lot more being in the trade.
Your car is now totaled because the extent of the damage to the car is beyond repairable. It would cost MORE to repair the vehicle at this point then the actual value of the car. If it even runs at this point. The damage may not seem so severe when you visibly look at the car but the inside of it might be completely ruined.
Remember everything that makes a car run is on the inside we cannot really see it and even if we do we may still not know what exactly is damaged to the point that it will not run as it did prior or never will again so, just take a loss for now and get another vehicle that you know does not have any water damage to it's interior.
YES...A totaled car can be resold back to the owner by the insurance company for a old figure of $100 which later was raised to $200...not sure what it is today.
I've had two vehicles totaled in the last 5 years. Both of them were still very drivable - which kind of shows you how expensive the cars are that I drive.
Anywhooo... In my case, both times the "buy back" price was 10% of what the settlement was. I don't know if there's a "10% up to this amount" price, or if it varies from state to state, or insurance company to insurance company.
By the way, I love the old AC Bugs. We drove a couple for MANY years! A 71 Super Beetle was what my sons learned to drive in. Even today, both of them would buy one in a heart-beat if they could find one. Good times!
I have a friend that had a passat that was flooded, ableit years before. This car ultimately ran up a few k in bills with the electical gremlins someone above mentioned. It had had the connectors cleaned as someone said, ultimately it just needed a new harness which a junkyard car provided, wires rusted inside the harness. Its kinda a mission and sketchy on whether it wil ever be right. I think toyotas are great cars and i would probably take a chance on fixing it however. The insurance company would rather not fix it and be responsible for any problems you have down the line from fixing it, so if you do it, its your problem.
Was the motor under water? I know from a friend that fixes flooded hondas that down the line they need starters (from rust) and front wheel bearings. I think a 2008 corolla is worth more than 10k, so im kinda surprised they would total it out. It would have a salvage title yes, and the buyout is usually roughly what they would get for the car at the salvage auction. Maybe more than 10%, surely more than 1k.
Rest assured SOMEONE will fix it and it will be on the road again, for sale to someone that doesnt know any better.
If you get 10k from the insurance company & want to buy the car back you're looking at $1,000.00.the ins co charges 10% to retain car.Keep in mind your motor,tranny,body parts,tires,etc.. are all in good condition.A wrecking yard will make a pretty penny off of your car.
If i was you i would just let the car go but remove the stereo system (incl speakers), battery,floor mats & whatever else you want.wrecking yards will siphon all the gas & use it for themselves.You would be surprised just how much money they make & they sure charge enough for parts.
Last yr i bought a 95 dodge off a neighbor for $50.00 & sold it to the wrecking yard for $280.00 plus i kept the car battery (good condition & in my 85 olds) & the toshiba am/fm/cassette auto reverse with 6 disc cd changer.The speakers were junk.
It won't just have a salvage title, it will likely be tagged as flooded too.
Even up and running, it has no value used.
You bring up a good point.
Assuming they keep the flooded/totaled car, if the time ever came to trade it off or sell it outright, they've got nothing.
Get rid of it.
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