Salvage Options
 

So my bmw is being totaled by the insurance company...

I asked if i could keep the car and they said I could for $400(basically what they would get to junk it)..

My question is can you insure a car that will come with a salvage title?

THe damage is mostly superficial(2 bumpers, paint, etc) and they valued my car at $6,600 so it didn't take long to get to that price.

It might be worth it to me to pay $400, get new bumpers, mirrors, etc and drive it more..only has 125,000 on it.

call your insurance company
in California, of course
ya fix it!

As a general rule of thumb in the used car business, a salvage title cuts the selling price of the car in HALF. If the insurance company will only value the rebuilt car for around $3000, would you bother to carry anything but liability insurance on it?

Jeez these cars are worth so little I didn't even consider someone having anything but liability, lol

this is ur answer

keep it and have them cut you a check for $6200. shouldnt cost more then $1200 to fix. you can get the m5 front and rear bumpers for around $500 for both if you want to switch things up or have ur current ones sanded filled and repainted. 5k in the bank.

and if you dont want to deal with fixing it. sell it as is. collect $6200 and sell it for $3000.

you are in a win win position.

edit: (you said you were rear ended in a previous post so im assuming the other ins company is taking care of it)

It would be liability only...

found a rear bumper from ROCKAUTO for $79...it's a start

Have to verify a few other things but seems that this would be quite a deal..

Looks like i will be adding a 98 bmw 528i with $88k miles..found it this afternoon..

Yes.

And, as noted, you're only going to have liability - which doesn't care about how much YOUR car is worth (it cares how much OTHER cars and people and medical bills are worth).

See also:
- Philosophical risk tolerance considerations for collision, comprehensive, and liability insurance (1)

:rofl:
Did you decide to keep the car or go with the "expensive" one?