Your car can get totaled in many different ways; it's totaled if the cost of repairing your car exceeds 70-80% of its value or if the repair for what was wrong with your totaled car is not feasible. Your car can also get totaled if caught on fire and burned to the ground.
Despite the reason why your totaled car got totaled, you have the opportunity to keep your totaled car if you are willing to pay for it. This is not advised, however. Your totaled car will depreciate the moment it is totaled. If you want to keep your totaled car, it is advised that you use the money that totaled your car for getting another one.
However, if you're still interested in keeping your totaled car, in this article, we'll provide you with options on how to keep your totaled car.
Let's read on for “Can I Keep My Totaled Car If It's Not Worth Repairing?”
When is a car considered totaled?
Not every vehicle is considered totaled. Therefore, before assuming your car is totaled, you need to confirm the issue in the first place.
Here are some of the top reasons for cars to get totaled:
When it comes to accidents, the most common totaled cars are totaled due to accidents resulting in severe damage or totaled cars where the cost of repairing the totaled car is close to 70-80% of its value.
#2 Theft or Vandalism
If your totaled car was stolen or vandalized, then it's totaled when the cost of repairing your totaled car is not feasible in terms of both time and money.
#3 Blown Engine
When it comes to a blown engine, the most common totaled cars are totaled due to damage resulting from a blown engine where the vehicle can no longer function, which is called nonoperational. This totaled car would result in significant damage such as missing parts such as doors, wheels, and any other components that get ripped off during an accident.
Why should you not keep a totaled car?
Before we discuss your options for keeping a totaled car, let's first highlight the main reasons why you should get rid of your totaled car as the best option for you:
#1 Save Your Money
Totaled cars don't have a great resale value compared to salvage-totaled cars. Therefore, keeping your totaled car will not make much financial sense. Instead, you should use the totaled car money to get another new or used car.
#2 You Can't Drive It
It doesn't make much sense to keep a totaled car if it can't even be driven. This is because your totaled car will still depreciate regardless of whether you're driving it or not. Therefore, it is advised that you get rid of totaled cars and avoid involving them in accidents even when parking them at your home or garage by all means necessary, such as installing car alarms.
#3 It's Going Down in Value
Even if you're keeping totaled cars, it is advised that you get rid of the totaled car on the spot. This is because totaled cars depreciate the moment they get totaled. Unfortunately, this means that if you're planning on selling your totaled car, it might be difficult to find a buyer since totaled cars do not have good resale values.
#4 It Can't Be Renewed
Even if you're keeping totaled cars, there's no point in keeping totaled cars for a long time. This is because totaled cars cannot be renewed. Therefore, even if your totaled car is insured and totaled due to vandalism or theft, the insurance will pay out for it since totaled cars depreciate while totaled. This means that totaled cars have a very short lifespan and can't be renewed.
Are there any benefits for keeping your totaled car?
While most of the mentioned discussion confirms it's never a good idea to keep your totaled car if you decide to keep the vehicle, there are some benefits you'll be gaining, including:
#1 You Saved a Life
If your totaled car was totaled due to an accident where your totaled car saved a life, then it might make sense to keep totaled cars and never look back.
#2 You Deserve a Little Something
Keeping totaled cars could be the only way to get something out of totaled cars. For example, if your totaled car was totaled due to an accident where the total loss was the only way out, it might make sense to get something out of totaled cars and not lose money by getting rid of totaled cars. Although totaled cars do not have a great resale value, totaled cars can still be sold at a low price to anyone willing to buy totaled cars.
#3 It's Cheaper
Keeping totaled cars might be cheaper and easier than the expenses and work required to sell totaled cars. This is especially true if totaled cars are only totaled due to vandalism, which will not require major repairs.
#4 You Want to Keep it for Memories
If totaled cars were totaled due to an accident where the totaled car was totaled as a result of an event that holds a lot of memories for you, then keep totaled cars as long as totaled cars are still safe enough to be driven. This is because totaled cars will be more priceless as they carry priceless memories from your totaled car accident.
#5 You Want to Keep It as a Souvenir
If totaled cars were totaled only due to theft or vandalism, then totaled cars might still be driven even if the totaled car is totaled as a result of an accident. This is because totaled cars might still be safe to drive, and totaled cars can still be used without needing major repairs.
Can I Keep My Totaled Car If It's Not Worth Repairing?
Let's assume that you decided to keep your totaled car despite the mentioned disadvantages. To gain the most out of your totaled car, you can follow these tips:
#1 Fix the Mechanical Damage
The first thing you should do to gain anything out of totaled cars is to fix the totaled car's mechanical damage. This is because totaled cars generally don't require major repairs; you'll only have to replace a totaled car's battery, which you can easily do on your own.
#2 Get Rid of the Car Alarm
Getting rid of totaled car alarms might be a good idea as totaled car alarms will not allow you to explore totaled cars' potential and what they can offer. Therefore, it's advised that you get rid of totaled cars alarm as soon as possible after getting totaled cars. This is because totaled cars alarms might drain totaled cars' batteries, which will prevent totaling from exploring totaled cars' top talents and capabilities.
#3 Research Totaled Cars Potential
Researching what totaled car has to offer and how much these features are worth can be useful in getting more out of totaled cars. This is because totaled cars features might still carry some value, and totaled cars features will enable you to get more money from totaled cars than if totaled cars are sold without research.
#4 Repair Cosmetic Damage
Repairing totaled cars' cosmetic damage can help make totaled cars look brand new. This is especially important if totaled cars are totaled due to vandalism which totaled cars only lost their paint job. This will ensure that totaled car is worth more, especially if you find a totaled car a new owner.
#5 Research Car's Resale Value
Getting totaled cars researched to find out their approximate resale value can be useful in selling totaled cars. This is because by getting totaled cars researched, you'll get a good idea of how much totaled cars are worth and what price should be offered for your totaled car, which might convince you to sell it.
What's a better option than keeping my totaled car? Sell it to Cash Cars Buyer!
Even if you decided to keep your totaled car, you might want to consider a better option that helps you get rid of this vehicle fast and for the most money. This option sells totaled cars, which might be difficult if you are not too familiar with the used car market.
This is where Cash Cars Buyer comes to rescue totaled cars, as we offer the best prices for totaled cars. What's more – you can sell a totaled car even if the totaled car is totaled as a result of an accident!
This is because Cash Cars Buyer offers totaled car quotes regardless of the totaled cars. Just make sure totaled cars meet our requirements, which you can read here, or simply contact us.
Can I Keep My Totaled Car If It's Not Worth Repairing? Conclusion
In conclusion, totaled cars can be kept if the totaled car is not worth repairing. If you want to keep your totaled car for any of the following reasons: cheaper, memories from accident, a souvenir from vandalism or theft, and as a keepsake from an event that holds special meaning for you- then it's possible to do so.
Totaled cars should still drive even if totaled due to an accident. Some modifications include removing the totaled car alarm system and fixing mechanical damage before moving on to the cosmetic damages, which will allow totaled cars to look new again.
The last step in keeping your totaled car would be researching its resale value by getting research done on how much it would cost for someone else who might buy it second-hand without repairs needed.