I live in GA and drive a rebuilt title 2010 toyota corolla with 47k miles. Someone backed into me at Costco and I have been dealing with their insurance to get the vehicle repaired. I've already got the Estimate back and Holy cow! $4,112 for a quarter panel replacement. Im waiting on them to approve the repairs but I am worried about them trying to declare the vehicle as totaled again. I have some sentimental value with the car and do not want to loose it, especially since I just fixed oil leaks and suspension components. From what I understand the average in georgia is around 75% of the ACV of the vehicle before a vehicle is totaled. Not sure how much my cars value is brought down exactly with it being a rebuilt title. Just looking for opinions as im worried that ill loose my car.. especially after investing money to make it very reliable. Id freaking drive it with a dent. I was just hoping to get it repaired and now im worried it's a loss. Thanks in advance ☺️
Fender bender in a rebuilt title vehicle.
byu/Stunning-Subject-506 inInsurance
Posted by Stunning-Subject-506
3 Comments
CCC (carrier valuation software) normally knocks 30% or so for a rebuilt title. In disputes over value, we can normally get knocked down to 20%.
In TN and GA I have seen multiple insurance companies declare the value of a rebuilt title vehicle anywhere from 40% to 60% of a clean title value. Say if the clean title value was $8000 then they would value a rebuilt title between $4k and $5k. Then the 75% would be of that value. You can still buy it back if they total it again. Then you can choose to fix it or not.
> Id freaking drive it with a dent.
You have the option of withdrawing the claim and keeping the car if it means that much to you.
Otherwise, it’s likely a total loss. If it is, and you buy the car back less the salvage value you may end up with just a couple of thousand to do $4000 worth of repairs. Owner retained salvage rarely works out.