I have a wrecked Chevy Sonic. Insurance won’t help with repairs. I towed it to a shop and was brokenhearted to hear he would charge $5,000 plus to repair the front end frames, put the engine back in the right place and put all the airbags back in properly. He said it could cost up to $10,000. Both he and the first shop said it may not be economical to repair it.
My question, if I were to salvage the car, does anyone know the best way to go about doing that?
It depends.
Has the loan been paid off?
Tester
Most folks fixing a 2013 ANYTHING are not looking for used parts. You will have trouble selling them on craigslist or ebay. A salvage yard may be your best bet, but don’t expect much.
If you still owe on the car, you are genuinely out of luck. Your lender probably demanded that you have full coverage on the car, and it has lapsed. If you own the car outright, that’s nice, but you are still out of luck getting it fixed. You MIGHT be able to find a body shop willing to fix it with used parts, but it sounds like it took a bad hit. If two shops say it’s not economically feasible to fix it, it probably isn’t. Besides, do you want to drive one that is not properly fixed, and may be unsafe?
Two things: it is not wise to use your email address as a screen name : why won’t the insurance help?
Why do you want to salvage the car? take the money and buy another.
It’s totaled. Let it go.
If the insurance made an offer, take it. If for some unstated reason they’ve declined to cover it at all, than understand that you’ll still owe on the loan and if you want to salvage it and repair it, it’ll be out of your pocket… and your only option MIGHT be an unsecured loan… if you can manage to even get one. Understand if you do that you’ll still owe against the original loan in addition to now owing on the unsecured loan and this could end up to be a very, very expensive Sonic. You’ll be digging yourself into a very deep hole.
Summary:
Assumptions of options:
the insurance will not pay to repair it (“totaled” it) and has made you an offer. If it’s sufficient to pay off the loan balance, I’d take it, clear the loan, and start over. If it isn’t sufficient, you’ll still owe the loan balance. Buy a cheapo car to get you to work and dig yourself out of this loan.
the insurance company will, for some unstated reason, not provide any assistance at all. In this case, your options are to
(a) try to get an unsecured loan [good luck], repair the car, and pay on both loans… making it the most expensive Sonic on Earth. Or
(b) let it go, keep paying on the loan, and get an inexpensive used car to get you around. You may need to pay cash for the “get around” car. A loan might be tough.
Sorry. You’re boxed into a corner. You gotta get yourself out of the corner without adding more obstacles.
I’ve a neighbor who totaled his new car, bought it from the insurance company and parked it in his driveway with the intention to fix it up. It’s been sitting there like that taking up space for 5 years. Don’t let that happen to you OP.
Don't let that happen to you OP
Or your neighbors!
OP - what do you mean by ‘salvage the car’? Fix it? Or sell off the undamaged parts?
In accounting terms, a written off car is a SUNK COST. Time to move on; as mentioned many well intentioned plans to revive the vehicle have failed. The owners always underestimated the cost and time involved.
So, take the insurance money and go on with life.
Years ago I totaled a 1966 Malibu V8 and sadly parted with the wreck which brought $100+ and bought another car.
I read the post carefully and cannot tell if there even is insurance money. My gut suggests that there may be an unstated fact that negates the insurance company’s liability toward the accident. I sincerely hope I’m wrong.
OP stated - insurance won’t help - until that is clarified there is not much to base any suggestions on.
Well stated. I agree. There’s no place to go until some clarification is offered.
@bpotter136@gmail.com
"Insurance won’t help with repairs."
What does this mean? Why won’t they help? We are missing information that could help focus advice you are seeking.
Do you have collision insurance?
Is there a lien on the vehicle or do you own it outright?
CSA
Agree, it’s totaled, let it go. If insurance doesn’t cover, that means you didn’t have collision coverage? If you have a loan though and you don’t have collision coverage, one option is to check with your bank. They carry a general policy to cover people who let their insurance lapse and they might be able to use that coverage. It means you pay the exorbitant rates for the period of the lapse but still not a total loss. Now if you don’t have a loan and don’t have coverage, you take the risk and win or lose.
If this thing got hit while parked Is that covered by collision or comprehensive?
Who knows what happened…
“I have a wrecked Chevy Sonic.”
… could be the car was purchased as a wreck. Who knows? Stuff happens!
CSA
Hit while being parked would be covered by the Perp’s insurance or if not by collision coverage, not comp. Driving into a tree would also be collision which is what I envisioned. It also insures that no matter how the damage happens, you can get your car fixed or replaced without worrying about someone else’s insurance etc. Only the deductible is an issue.
DWI may not be covered also.
Did Elvis leave the building?
Yup.