At what point it is not worth fixing.

[HiSpec]

At what point do you believe a car is not worth fixing (take cash settlement) after an accident??
1) The accident is NOT your fault, the 3rd party insurance is covering the repair
2) The car is >10 years old
3) The repair cost is nearly a write-off (but claims office same it is repairable)
The money can be used to cover some bills.

What do you guys think?

[sevewone]

Seems like you shouldnt repair it..but what is it exactly?

[HiSpec]

driver side + rear quarter panel damage

[canuckcarguy]

Simple question is whether the cash being offered by the insurance company is more or less than the car is worth on the market once it's fixed. If you'll get more for the repaired car, let the insurance company fix it. If not, push them to write it off, or to give you as much $ as possible.

[realazy]

A lot of times older cars are worth very little but since you know about the car + maintenance, it's worth more to you than the payout.

If you had a car from new for 15 years, and yes it could be dented and scratched, but your main concern is reliable transportation, you wouldn't want to give that up for $1000.

The question is can you find a replacement for the writeoff payout?

[Masked Bandit]

I would say that if the offer you're being made is actually the same or more than what you could get for the car on the open market, take the cash and run.

[JAYMEZ]

Take the cash , its probably more than you will get for selling it down the road.. Bills are important , might as well pay them off now.

[Sugarphreak]

...

[HiSpec]

the damage is worth about ~$3200, and the car is worth maybe around $4500 at most?

And it is purely cosmetic damage. The car is still runs.

[sevewone]

well from this:

HiSpec
First Gear
What I drive: 1.6L worth of slowness and with cancer

im gunna go with no

[FullMetal]

take the cash and buy the car back for very cheap and fix it ur self if ur handy

[FiveFreshFish]

What car is it?

[HiSpec]

98 Honda Civic hatchback

[AndyL]

Originally posted by HiSpec
2) The car is >10 years old

This one REALLY bothers me; and after a fight with the AMA not so long ago - I'm led to believe this is legislated?!?!

I exclusively want vehicles older than 10yrs - made from real steel, not going to get written off (actual damage wise) by a little fender bender like some of these new cars. Let someone else pay depreciation and worry about racking up the mileage...

Makes sense in ontario/quebec where after 10 years the car is 100% guaranteed to be completely rusted out and likely 100% unsafe due to frame/undercarriage rot; but in alberta - this makes no sense.

The other day I got rear-ended by a 2006 lexus; likely given he needs a new bumper, radiator, upper rad support, hood, paint, 3(?) airbags - the cars done... I've got a scuff on the rust of my chrome (real steel) bumper. Yet if I go and try to persue a claim - the trucks going to get written off (real steel + chrome bumper = ChaChing apparently). How does that make sense or keep anyones insurance reasonable?

[freshprince1]

If the cost of repair is more than the value of the car?

[Tik-Tok]

I'm a little confused. Are they actually offering you the CHOICE of have it repaired, or have it written off? That doesn't seem typical from the insurance companies point of view.

[HiSpec]

Originally posted by Tik-Tok
I'm a little confused. Are they actually offering you the CHOICE of have it repaired, or have it written off? That doesn't seem typical from the insurance companies point of view.

Sorry I was meaning to say the insurance company said the car is repairable and that the cost for the repair is not in the write off bracket. Therefore my car is not a write off but rather a repair or a cash settlement. But the fact that my Car is old and have spots of rust just asking peoples opinion on whether I should just take the money. Hope that is more clear.

[B4tMan]

When the exhaust is louder than the engine, it is not worth fixing

[Tik-Tok]

Originally posted by HiSpec


Sorry I was meaning to say the insurance company said the car is repairable and that the cost for the repair is not in the write off bracket. Therefore my car is not a write off but rather a repair or a cash settlement. But the fact that my Car is old and have spots of rust just asking peoples opinion on whether I should just take the money. Hope that is more clear.

Well, paying bills is a good thing, but if you take a cash settlement, how much of that are you going to have to spend on another car, and fixing it to a roadworthy level?

[HiSpec]

Originally posted by Tik-Tok


Well, paying bills is a good thing, but if you take a cash settlement, how much of that are you going to have to spend on another car, and fixing it to a roadworthy level?

The car is perfectly roadworthy (mechanical wise) and completely drivable. Just the body is beat up LOL