Should I Repair My Car or Keep the Cash?

You’ve been inan accident and have been given an estimate for repairs to your car from theinsurance company. Now you have two options:

  1. Repairyour vehicle
  2. Keepthe cash but don’t do the repairs

Before you makea decision, there are a few things to keep in mind.

Actual Damage to Your Car

Some damage canlook minor but still present a significant safety issue. For instance, damageto a fender or a ding in a door may seem insignificant but can hide dangerousstructural damage. Alignment issues may be imperceptible, but a bent frame cancompromise your vehicle’s ability to absorb impact in a subsequent accident,increasing the chances of severe injuries and death.

Knowing theextent of the actual damage requires disassembly and further exploration by acertified technician. Your insurance company’s estimate may not tell the fullstory.

Whether you cansee the damage or not, if it would make driving the car dangerous, you need torepair your car. If the damage is purely cosmetic, then the choice is yours…butdo keep in mind how cosmetic damage may affect resale value.

Who Really Owns Your Car

If you stillowe money on your car, the bank technically owns your car. With that comes theexpectation that you will keep it in running order and good appearance. In thiscase, the decision isn’t yours. You must repair your car instead of taking themoney.

Continued Car Insurance Coverage

If you choose to keep your car the way it is—i.e., damaged, you may not be able to insure it against physical loss. In other words, accident damage left unrepaired may make you ineligible for comprehensive and collision coverage. So, if you are in another accident, you may have to pay for repairs or a new car entirely out of pocket.

At Quanz Auto Body, we are one of the top collision repair centers in Albuquerque. Our goal is your safety and satisfaction.If you’ve been in an accident, bring your car to us. We’ll quickly and professionalassess the damage so you can get the full picture and make the decision that isright for you. Contact us today!