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What happens when a car repair is more than the value of the car?
Wiki User
∙ 15y ago
Typically if the cost of repairs exceeds 85% of the value of the car, the insurance company will offer to total your vehicle, because of the amount of time it takes to complete repairs combined with the labor/processing costs the insurance company incurs, makes it more time and cost efficient for the vehicle to be totaled out. You will receive a check for the actual cash value of the vehicle minus your deductible
Wiki User
∙ 15y ago
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What happens if the repairs to your car costs more than the car value?
Well, You have a problem because your insurance bill would sky high.- Ian BI thought that if a repair is more than the value, the insurance company considers it a total. Why would they pay for repairs that's more than the car value?
What does the value of the repair has to be in order for the vehicle to require a salvage certificate. ?
The repair cost, has to be more expensive than the insurance company believes the car is worth.
What is the formula to determine if a car is totalled?
If the car costs more to repair than its listed value, then it is defined as "totalled."
What happens to people who value money more than anything else?
They end up alone
Should Automobile be fixed or replaced?
To the intelligent person, that decision should be a function of the value of the REPAIRED vehicle as compared to the projected cost of repair. You should determine the value of the vehicle BEFORE repair, add that amount to the cost of repair and if that total is MORE than the value of the vehicle after repair, sell the vehicle without repair. Some people have an emotional attachment to a vehicle. That changes the way you make decisions.
What happens if the insurance company issues a check to you the owner of the vehicle rather than to the body shop or the lienholder and you spend the money thinking it was a refund of the diminished value?
Then you have to pay for the repair.
Can an insurance company total a car with 2 separate claims?
Sure. If the cost to repair is more than the actual cash value, then yes.
Can you sue the party at fault for property damage when cost of repair to automobile exceeds book value?
If the party at fault has damaged you auto mobile the the maximum they are liable for is the book value of the auto mobile. If the car is going to cost more to repair than it is worth then is is a "write off" and all you will get is the book value.
What is the best way to total a car?
Totaling a car basically means it would cost more to repair it than it's book value is. So, look up the book value of your car (see link) and figure out a way to cause more damage than that number.
If you have a little oil in your car can it still run?
HELL NO. if you want to seriously damage your engine almost beyond repair, then go ahead. the amount it will cost to repair will almost certainly be more than the value of the car.
What is the difference in the place value and the face value of 8 in 78563?
The face value is 7992 more than the place value.The face value is 7992 more than the place value.The face value is 7992 more than the place value.The face value is 7992 more than the place value.
Beyond economical repair?
An item costs more to repair than the item is worth
