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The Water Cooler
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Rebuilt automobile title
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<blockquote data-quote="Zaphod Beeblebrox" data-source="post: 2507190" data-attributes="member: 4606"><p>It sounds like an insurance company totaled it out. Most will total a car once the cost of repairs meets a certain percentage of market value for the car. That percentage varies, but when I was an adjuster, it was around 65-70% for my company; others wouldn't total a car until 80%.</p><p></p><p>But, it may not be a bad deal. Body and mechanical work can be pretty pricey, and if a car is old and not collectible, its market value is pretty low. I saw 20 year old cars considered "total losses" over parking lot fender benders. The cars were fine, but fixing them would cost darn near as much as the car was worth.</p></blockquote><p></p>
[QUOTE="Zaphod Beeblebrox, post: 2507190, member: 4606"] It sounds like an insurance company totaled it out. Most will total a car once the cost of repairs meets a certain percentage of market value for the car. That percentage varies, but when I was an adjuster, it was around 65-70% for my company; others wouldn't total a car until 80%. But, it may not be a bad deal. Body and mechanical work can be pretty pricey, and if a car is old and not collectible, its market value is pretty low. I saw 20 year old cars considered "total losses" over parking lot fender benders. The cars were fine, but fixing them would cost darn near as much as the car was worth. [/QUOTE]
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