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The insurer is legally the possessor of the car once they pay out the total claim. Insurers will then try to either sell the car to a rebuilder who will fix it up and sell it or to a re-processor who will scrap it for valuable parts and recycle the rest.
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Will you owe taxes on a totaled car?
Not if you notify you local PVA that the car is totaled and not longer in service. You will pay taxes up to the day it was totaled.
How do you finance buying back a totaled car?
Home equity loan perhaps. No bank is going to finance a totaled car.
What if your car is totaled?
Get a new car. == If someone hit your car you will be paid the actual cash value of the car. If you totaled the car and had collision coverage you will be paid actual cash value, too.
If your car is totaled can you legally drive it?
No.
How do i totaled my car?
drink driving
Can you register a totaled car in Texas?
no
What happens to a totaled car after the insurance co pays you for it?
Some insurance companies will sell the car back to the owner. Others sell the totaled car to a salvage yard.
What is considered totaled in a car accident?
A car is considered "totaled" if the cost of repairs is equal to, or greater than, the blue book value of the vehicle.
What happens if you Car title loan in default and car is totaled?
Typically you need a car with insurance to get a title loan. If your car is totaled, the loan company are entitled to that money since they hold the title for your car.
What do you do if you totaled a car and it wasn't insured?
cry
Can auto body shops fix a totaled car?
The definition of a totaled car is when the repair cost of the vehicle exceeds the actual value of the vehicle. Hence, although it is unadvisable, it is possible for an auto body shop to fix a totaled car, depending on how severe the damage was.
What happens if you have no insurance and you totaled your car?
you will have to pay a debt and GET CAR INSURANCE
