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Totaled-Cars–Everything-you-need-to-know
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When a Car is totaled

What does it mean when a car is totaled?

In figuring out the cost to repair, the insurance company may look at more than just the estimate amount. They must consider all costs associated with the repair such as the cost of a rental vehicle and any potential supplemental costs to the repairs.

What happens when your car is totaled?

If you have insurance coverage for the loss, then the insurance company will determine the current market value, often referred to as the “actual cash value,” of your car before it was damaged. They will pay you (or your lienholder) that amount versus repairing your vehicle. The insurance company then sells your car for salvage.

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How much does my insurance pay for a totaled car?

The insurance company will determine the actual cash value (current market value) of your car in the condition it was in prior to the loss. Depending on your state laws, they may use a vehicle valuation guide such as N.A.D.A. or they may use a third-party valuation software. The actual cash value will be the amount they pay you versus repairing the car. They review many factors when determining the value such as age, condition, mileage and what other similar vehicles are selling for in your area.

Gap insurance in totaled cars

How does gap insurance work after a car is totaled?

You will want to check and see if you have gap insurance through your insurance carrier, or through your lending institution if you have a loan on the car. Gap insurance usually pays the difference (or a percentage of the difference) between the actual cash value and what you still owe on the loan.

What to do with a totaled car and no insurance?

It is a bummer when you have no insurance and your car is a total loss, meaning it is going to cost you more to fix your car than it is worth. Or, maybe it is not quite a total loss, but the repairs are just too expensive for you to handle financially. No worries, this is where CarBrain can help!

Simply give us your car’s information and we’ll get you an offer to purchase it “as is.” Accept our offer and we’ll give you a check in exchange for your car and title. It is that easy! There is no cost to you and we will handle the pickup of your car quickly.

What happens when you total a financed car?

It doesn’t matter if you still owe money on your car, you can still sell your car to CarBrain. You will need to contact your bank or lending company to request a payoff statement. This statement should provide the following information: how much you still owe on your car, where to send payment, how long the payoff is good for (usually 10 days) and how much the daily interest rate is (often referred to as the “per diem” amount.)

Take CarBrain’s offer for your car and subtract it from your loan balance. If there is still a balance owed, you must payoff that portion first to get the payoff down to the amount of our offer. If you have insurance and your car is totaled, they will be issuing you and your lienholder a payment for the total loss settlement (Actual Cash Value of your car.) If our offer is enough to pay the remainder of the loan in full and there is still money left from the offer, then CarBrain will issue two payments. One payment will be issued to the lienholder to pay off your account, and the second check with the remaining balance from the offer will be issued to you. CarBrain will get the title from your lienholder once the balance is paid in full.

First, find out how much you can get for your car, click the button below to find out what your car is worth.


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How much damage is required to total a car?

How much damage is required to total a car really depends on your state laws. Most states require that the cost of repairing the vehicle is equal to or exceeds the current market value of the vehicle. However, in some states there is a threshold to the cost of repairing, such as 75% of the market value. Your insurance claims rep or agent should know what is required in your state, or you can check with your state’s Department of Motor Vehicles (DMV).

If airbags are deployed, is my car totaled?

If your airbags deployed in your car during a collision, your car may not be a total loss. Airbags can be replaced and they will be considered in the cost of repair. If the total cost to repair your car is more than what your car is currently worth in the market place (or, in some states a certain percentage of the value,) then your car is a total loss. If not, then your car is repairable. If you are concerned about safety and still want to sell your car, you can. Get an offer from CarBrain and we will purchase your car “as is.” You will have a payment from the insurance company for the cost of repairs and our payment for purchase of your car. We’ll arrange the pickup of your car at no cost to you and exchange payment for the title and your car.

Can I keep my car when it is a total loss?

If your car has been determined to be a total loss, then your car will be sold as salvage. In most states, you can retain salvage as the owner of the car. The insurance company will deduct the salvage value from your total loss settlement amount (the actual cash value). You can then sell the car as salvage on your own.

Be aware that if you intend to try and repair your car, most states will require a full inspection of the repairs to determine if the car can be road worthy again and not be considered salvage. This can be a complicated process and your car will still have a record of being a salvage vehicle which may lessen the value of the car when you later try to sell it.

What is diminution of value?

Diminution of value (DOV) is when the value of your car diminishes due to it being in an accident or loss and having to be repaired. Many states and insurance companies do not recognize DOV. In most cases, you may have to prove that the repairs did not meet industry standards, or that you will lose money if you try to sell your car. Check your state laws and/or your insurance policy to find out if you may have a claim for DOV. Proving diminution of value can be a difficult process. If you are concerned about it, get an offer from CarBrain and we will purchase your car so you don’t have to hassle with it.

Have a totaled car? DamagedCars.com can buy it!

Contact us today for a quick, no-obligation estimate. You get paid for your total loss car when we pick it up. Which is fast. Forget about guessing and stressing. Now the process of selling your less than perfect car is easy!

Contact us today to sell your total loss vehicle.
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