Got into an accident. Not my fault. The other guys insurance has already claimed my car as totaled but because it's an older car they're giving me a check for the value of the car plus letting me keep it with a clear title, not salvaged. We haven't reached an agreement as to the value of the car yet. My question is, can I sell my car before we've settled the amount they'll be giving me for the car? The insurance agent told me I could do whatever I wanted with the car since they're letting me keep it with the same clear title. She said I can keep it or sell it, it doesnt matter. But she wasn't clear about if we have to reach an agreement as to the value of the car before I can sell it.
2007-11-15 12:16:40 · 4 answers · asked by Anonymous in Cars & Transportation ➔ Insurance & Registration
Well, maybe. If they're paying you total value less salvage value, by law they're going to need that title, and put a salvage title on it. Do you have it in writing, that they're NOT going to put a salvage title on it? A CLEAR title means, no leins, and clean ownership path. It does NOT mean, no salvage.
I'm going to guess that if you sell this car to someone, it's going to mess up the claim settlement - as you won't have that title any more to turn in to the insurance company for a salvage title.
2007-11-16 02:36:37 · answer #1 · answered by Anonymous 7 · 0⤊ 1⤋
NO!!
You could be in for a heap of sh*t if you do this. What if you and the insurer can't come to an agreement on your car? Suddenly the car is gone and an independent appraiser can't inspect it -- you are then at the mercy of the insurer. Have the money in hand before you sell the car -- dummy!
2007-11-15 21:34:40 · answer #2 · answered by Anonymous · 2⤊ 0⤋
Can I sell my car before I settle with insurance?
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2014-07-02 02:15:56 · answer #3 · answered by ? 1 · 0⤊ 0⤋
I would wait until after the claim has settled and dispose of the car how ever you wish.
2007-11-15 21:12:55 · answer #4 · answered by Boots 7 · 2⤊ 0⤋
I wouldn't. Wait until all the paperwork is done and you have the insurance check in your hand.
2007-11-16 01:06:14 · answer #5 · answered by Scott H 7 · 2⤊ 0⤋
To be safe, wait until you've settled and gotten paid.
2007-11-15 20:25:47 · answer #6 · answered by curtisports2 7 · 3⤊ 0⤋
NO, IT WOULD BE BETTER AND SAFER IF YOU JUST WAIT TILL EVERYTHING HAS BEEN FINALIZED.
2007-11-16 09:36:58 · answer #7 · answered by Anonymous · 2⤊ 0⤋