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re: Is anyone doing a buy back on their flooded car?
Posted on 8/28/16 at 8:34 pm to GFunk
Posted on 8/28/16 at 8:34 pm to GFunk
The law has changed. The ins co can sell you back a wrecked car for salvage value and you get a salvage title. They are no longer allowed by law to sell you a flooded car for salvage. It must be picked up and dismantled or destroyed.
0
Posted on 8/28/16 at 8:52 pm to dwr353
Once national disaster is declared the flooded cars can't be bought back they have to go to auction and be sold for parts only. They cannot be retitled as salvage or reconstructed.
Posted on 8/28/16 at 9:50 pm to LSUgolf
Correct, that is what I said.
Posted on 8/28/16 at 11:07 pm to dwr353
quote:What? They can't sell flooded cars anymore?
By state law, if the ins co totals the vehicle, it must be destroyed. It can not be sold and re-titled again.
They still are able to sell wrecked and repaired salvage cars.
This post was edited on 8/28/16 at 11:10 pm
Posted on 8/29/16 at 2:39 am to Asgard Device
quote:dunno about that question, however, Team Toyota still has several cars with their doors and trunks open - it appears they are trying to dry them out - been that way since last Tuesday when the water went down on their lot - you think they gonna sell those rascals?
Is anyone doing a buy back on their flooded car? by Asgard Device
Posted on 8/29/16 at 3:14 am to Asgard Device
My dad bought s new truck (Dakota) in October of 05. It ran Herat the first 1000 miles then started acting up. I looked it up and it was in south Louisiana when Katrina hit. He took it back and they replaced it with a bigger truck (ram Texas addition).
Posted on 8/29/16 at 5:15 am to Asgard Device
The insurance companies are not allowed to sell the car back to you. There was a law passed after Katrina that makes sure all of those cars are not put back into the market. No way to do a salvage title on them.
Posted on 8/29/16 at 7:38 am to bigpetedatiga
best bets will be extremely small country hick dealers.
in the bible belt
in the bible belt
Posted on 8/29/16 at 7:42 am to Asgard Device
quote:
If it didn't get that wet and is fine now can you do a buy back to keep the car but still get some cash on it since insurance companies are just totaling them all? Yes I know these cars will be at risk for electrical and transmission problems but some never got over the floor boards and will be worth accepting a few thou for.
My wife's car flooded and she asked the insurance agent if she could buy the car back after they totaled it because she only had 3 payments left to have it paid off. They told her that La. will never issue a valid license plate in the future for any car totaled in the flood.
Posted on 8/29/16 at 8:05 am to Asgard Device
This post was edited on 11/8/20 at 12:51 pm
Posted on 8/29/16 at 8:30 am to Asgard Device
I don't believe the insurance company will allow you to "buy it back". Once totaled they will tow it away never to be seen again...
Of course unless you're visiting a third world country. Then your "totaled" car will probably be transporting a family of 8.
Of course unless you're visiting a third world country. Then your "totaled" car will probably be transporting a family of 8.
Posted on 8/29/16 at 8:41 am to Revelator
I pretty sure la will issue a water salvage title. They certainly had Katrina titles
Posted on 8/29/16 at 8:44 am to Bullfrog
Spoke to one of our company adjusters, NO salvage on totalled vehicles. Scrap yard they go. Against the law to re-title. Case closed.
Posted on 8/29/16 at 8:44 am to Bullfrog
quote:I think they changed the law since then BECAUSE of Katrina. Like was said before once a disaster is declared they are done
I pretty sure la will issue a water salvage title. They certainly had Katrina titles
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