My girlfriend drove a 2000 Toyota Camry before it got into an accident a couple weeks back. The damage was very bad, the passenger side doors are caved in with the roof and base significantly dented. The dash window is severely cracked.
The car however is amazing and is still drivable although, of course, it is not recommended to drive at all. The at-fault party's insurance company declared it a total loss and estimated the cost to repair it about $7000. However another independent repair shop suggested a repair amount of around $4200. The insurance company will offer her around $4500 with them obtaining the car, and around $3000 for her to salvage(retain) the car.
I know it may seem irrational to salvage the car, since the value of the car based on the market is around $4000 - $5100 max. But my friend and I are VERY attached to the car. We shared a lot of moments in it. It is like our family member.
We are debating whether to spend an extra $1500 to repair the vehicle after she gets the "owner retains" amount from insurance. Or simply letting it go and take the $4500 instead, which is rational I know, but very painful. Can anyone justify the decision to keep the Camry in this situation? Are there other options out there to help us out in our quest to save our beloved Camry? We live in California. Please give any insights, as much as you can, thanks a lot!
The car however is amazing and is still drivable although, of course, it is not recommended to drive at all. The at-fault party's insurance company declared it a total loss and estimated the cost to repair it about $7000. However another independent repair shop suggested a repair amount of around $4200. The insurance company will offer her around $4500 with them obtaining the car, and around $3000 for her to salvage(retain) the car.
I know it may seem irrational to salvage the car, since the value of the car based on the market is around $4000 - $5100 max. But my friend and I are VERY attached to the car. We shared a lot of moments in it. It is like our family member.
We are debating whether to spend an extra $1500 to repair the vehicle after she gets the "owner retains" amount from insurance. Or simply letting it go and take the $4500 instead, which is rational I know, but very painful. Can anyone justify the decision to keep the Camry in this situation? Are there other options out there to help us out in our quest to save our beloved Camry? We live in California. Please give any insights, as much as you can, thanks a lot!