What is the value of 1987 Toyota Corolla
My 91 neighbor had an accident and the insurance company wants to label it unrepairable and pay her for the car. Would the parts be worth more than what the insurance company would pay?
Parting out a car is a genuine pain in the ass. You will have to list it on cragislist or ebay and either have all sorts of strange people coming to your house.... or have to deal with shipping and getting paid. Then when all the parts are sold you still have the 'shell' to dispose of... but you will probably get more than what the insurance offers (How much did they offer?) if you have the time, energy and want do deal with it. A 1987 Corolla - wrecked- is virtually worthless, in good running order depending on Trim and mileage is worth maybe $2,000 - to $3,000..... take whatever the insurance offers and call it a day
Just a side-note. "Unrepairable" is a lot different than 'totaled' where the cost of repairs is more than the value of the car. That depends on the extent of damage. If it's truly unrepairable it must be pretty well crunched. But totaled it can be fixed.... maybe even if you DIY and get it roadworthy, she would have to buy it back from insurance company because if they pay the fair market value it then belongs to the insurance company. You can't have it both ways, get the money for the car and keep it
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