My nephew was involved in a XMas eve accident at an intersection where the oncoming driver made left turn directly in his path. He hit the other vehicle @ 35MPH in the front passenger door; the front end of his 2010 cobalt was heavily damaged. The garage estimates about $7500 in repairs, which is close to the amount to total the car. (I bought the car for him last April, so that’s my stake in this.)
So now he is asking me for advice - if he should just ask the insurance company to total it, rather than to accept the extensive repairs? Does he even have a choice?
The conundrum is that there is no way it can be replaced for its blue book value. He bought it loaded with many extras, low mileage (about 30K) in immaculate condition from a previous owner who was willing to give him a really good deal.
He is concerned that if he has it repaired, it will have future problems, and of course, a much lower trade-in value.
What factors should drive the decision one way or the other?