Quote:
Originally posted by Peyton300TD
Totaling it out is still a good thing though because you get to buy your car back for about $600 and keep the rest of the money to put into the car.
For example, I got a check for $6,200, then paid them $800 for the car (salvage title). That means I had $5,600 left to repair it. Repairs only costed $4,500. that left me an extra $1,100 to do whatever I wanted.
|
It can be a good thing financially, but having a salvage title still SERIOUSLY hurts the resale value of the car if you ever intend to do so. People will see "salvage title" and assume the worst, and will of course expect to buy your car at a much lower price.
Mike