Forum Discussion
carringb
Oct 10, 2019Explorer
If it was already declared "totaled" that means the adjuster has already determined the repair would exceed 70-75% of the vehicles value (depends on company policy). Yes, it will be reported to CarFax and any other reporting service at this point, since it has already been evaluated by an adjuster.
You will be provided the option to "buy back" your car at salvage value. If you take this option, salvage value will simply be deducted from your settlement value (book value minus any outstanding lien payments) and you will end up with a branded title. You do not get diminished value unless it was determined "repairable' (i.e. non totaled).
You will be provided the option to "buy back" your car at salvage value. If you take this option, salvage value will simply be deducted from your settlement value (book value minus any outstanding lien payments) and you will end up with a branded title. You do not get diminished value unless it was determined "repairable' (i.e. non totaled).
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