What Happens to My Vehicle Once Its Totaled
In the state of Arizona, there are a couple of things that can happen to a totaled vehicle according to the DMV. The most common is that the insurance company takes ownership of the salvage vehicle as part of the total settlement. The owner may receive a new car (if their vehicle was practically brand new). But more commonly, the insurance company will send a payout. You receive your check and the whole ordeal is over. Or is it?
Sometimes, an owner may take a partial settlement and choose to keep their totaled car or truck. Then, the owner can rebuild it and keep it. Or they might choose to sell the vehicle without rebuilding it. Just remember that the new buyer must be informed that the vehicle has been declared totaled. Keeping a totaled vehicle is common with vehicles that hold sentimental value. Also, in cases where the owner feels he or she can repair fairly easily regardless of what the insurance company says. But there are risks to this choice.