this post was submitted on 15 Sep 2023
204 points (97.7% liked)
Asklemmy
43965 readers
1885 users here now
A loosely moderated place to ask open-ended questions
Search asklemmy ๐
If your post meets the following criteria, it's welcome here!
- Open-ended question
- Not offensive: at this point, we do not have the bandwidth to moderate overtly political discussions. Assume best intent and be excellent to each other.
- Not regarding using or support for Lemmy: context, see the list of support communities and tools for finding communities below
- Not ad nauseam inducing: please make sure it is a question that would be new to most members
- An actual topic of discussion
Looking for support?
Looking for a community?
- Lemmyverse: community search
- sub.rehab: maps old subreddits to fediverse options, marks official as such
- [email protected]: a community for finding communities
~Icon~ ~by~ ~@Double_[email protected]~
founded 5 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
The insurance will figure a value for your car if it's been involved in an accident, stolen, or gets damaged by some crazy storm or something. They use the cars age and mileage to figure this out. If the appraiser looks at the damage and sees that fixing it (parts and labor and paint) is going to cost more than the value they gave it...well then it is totaled.
A totaled car will retained by the insurance company and they pay you out according to your policy.
Those totaled cars can be sold for a residual value (see copart.com). And be built back up and driven. But the title is now branded as a salvaged vehicle. Anyone who buys a totaled car will get a branded title either salvage, flood title, idk what all different states have for the name of it. That branded title is tied to the vehicle by its vin number forever. That's why you see the commenters saying they should frame swap the motorcycle to get a different vin number on it.