When you have been in a collision or an accident, you may find yourself struggling with the decision of what you should do with your car. On the one hand, most people are quite attached to their vehicle and want to stick with what they know and are comfortable with. On the other hand, it can be difficult to tell whether or not it is right to repair the car that was damaged in the accident or to simply replace the car instead. There are numerous factors that you can and should consider when deciding whether or not to repair or replace your car after a collision or accident. Get to know some of those factors so that you can decide what to do about your car as soon as possible.
The Cost of Repairs
The first step that you should take in making the decision about what to do with your vehicle is to determine what the cost of repairs will be. This involves contacting auto body repair shops to get estimates for the repairs.
Be sure that you approach several companies that offer collision repair services to get those estimates. Some repair shops may quote higher prices than others. In some cases, there are legitimate reasons for this including the possibility that one shop is able to more easily get parts for certain vehicles or has different techniques or equipment for performing those repairs. The variety of estimates will ensure that you are getting fair prices and a good idea of what to expect financially so you can compare the cost of repairs with the cost of purchasing a new vehicle.
The Amount That Insurance Will Pay For Either Repairs Or Replacement
Of course, one of the main factors to also consider when you are making a choice between repairing and replacing your car is how much the insurance company will pay out to help you. What usually happens is the insurance company will assess the damage to the vehicle as well as the vehicle's total value and determine what they are willing to pay for the damage to the vehicle.
The money that you receive from the insurance can go either toward fixing the damage or can go toward the purchase of a new car if the damage is more extensive than the value of the car. If, for example, your car is worth $5,000 and the damage would cost $6,700 to fix, the insurance company would offer to buyout your vehicle for $5,000 or give you $5,000 toward the repairs but you would have to come up with the additional $1,700 to pay for those repairs.
In the example mentioned above, it would likely be more practical to take the $5,000 and use it as a down payment for a new car rather than put it toward the repairs as $1,700 is a lot of money to come up with on the spot. However, if the repair costs and the value are closer in value, you might prefer to repair the car.
With these factors in mind, you can be sure that you are making the right decision about your car. For more information, visit a website such as http://www.autobodyomaha.com.Share