What's this worth?

Why not do both? Part it out on ebay for 7 day auctions then scrap the rest?

If it is totaled, doesn't the insurance company keep the wreck?

Ed

Jknomail wrote:

...I bought one back years ago - they just deduct the scrap value from the payoff value. So if the check was say $2,500 and you told them you wanted the car, they would come up with a scrap value (ex: $500), and you'd end up with a $2,000 check.

Is this anyone else's experience? Blue - you out there?, you know about this stuff.

That's the way it's worked for me in the past....

Works this way for fire damaged equipment too (1998, NY, Travelers)

If the insurance company pays you for anything (car, fire damage, etc) technically, they own the item. They can either claim it (they did on my car) or tell you to trash it (they did on our fire damage, they took a few things, told us to trash the rest).

With the car, they offered to sell it back for a few hundred, which I should have taken them up on but didn't.

Tony

Salvage laws vary from state to state. Some states ( I think most is more accurate) will require you to have the car retitled with a "salvage " title to indicate that it was rebuild after being deemed a total loss. Typically they will deduct a salvage value from the actual cash value . If anyone is interested in seeing just how much wrecked cars/bikes/boats/rvs go for : Salvagedirect.com is a website used by some insurance companies to move there cars . Some pretty cool wrecks on there - Vipers, Z06 Vettes ...