My son hit a deer with his 2001 325i last week. His insurance company (L-M)is totaling the car. Can he buy the car and sell it for parts or does the insurance company usually not allow this?
My son hit a deer with his 2001 325i last week. His insurance company (L-M)is totaling the car. Can he buy the car and sell it for parts or does the insurance company usually not allow this?
The insurance company will usually offer a buyback price after you make the claim. You can sometimes negotiate with them on it too.
You should be given an opportunity to buy the car back. Just ask your contact at the insurance company.
Yes, he can buy the car
We prefer the word 'retention'. Unless state law prohibits it, you can retain ownership of the car but will probably have to get something done with the title before they pay him. Plus, they will deduct the salvage value they could get for the car at auction. Make sure it's worth your while.
E46 BMWs part out well. I'd buy every one I can get my hands on. If you keep the car, contact me and I'll direct you towards our list of sold parts on Ebay so you can get an idea of how quickly you make your money back and start making a profit. there are a lot of parts that I would'nt have thought about selling that I've sold.
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