Posted by Chriscase on Wednesday, October 26, 2005 at 9:27PM :
In Reply to: OT: CHECK YOUR VIN #S posted by John Eickhof on Wednesday, October 26, 2005 at 5:04PM :
"Totaled" is not used in the industry. The real term is "Not Economically Repairable", or NER. The co. buys them from the customer and re-sells them at auction. Most go to bonetards. I have resurrected 2 of them. Many small dents in each, one got a used frame. I'd guess that the ins co. sold them to shops that then repaired them. Repairs must have been generally good, since 32,000 are still on the road. I say, anything to keep my rates low...
The ones I did were in my family. You'll want to "retain salvage" for about 20% of the settled value. The co. sure didn't want to let me keep the second one. I drove it home from the storage yard. A new radiator and some sledgehammer body work and I sold it for a profit. The dents did make it's history obvious, didn't need no "salvage" title.
Follow Ups: