Car
Write-Offs
Insurance category written-off cars and depleted values
Did you know that you may still be able to
buy a car that has been written off? Today, if you are making an informed
decision and fully understand its safety and value, quality, and reliability. To safeguard your investment run a free car check and get understand the car history before you buy.
Here are the car categories and classifications of car write
offs that you’ll need to know:
·
Category A: includes vehicles with
extensive damage that caused irreparable damage with no to little hope of
salvaging parts
·
Category B: includes vehicles with
irreparable damage, but with salvageable parts
·
Category S and N: includes vehicles in
which the vehicle can be repaired, but the cost of repairs would exceed its
overall value
Please be aware that before October 1,
2017, categories S and N were known as categories C and D.
It’s important to know that insurance
companies do not want to repair cars in categories S and N. This is because
repairs are possible, but the insurance company has decided it is more cost
effective to replace them. However, you may still purchase cars in either of
these categories.
The
Big Difference Between Categories N and S
While
cars in either MIAFTR (MOTOR INSURANCE ANTI-FRAUD THEFT REGISTER) category can be repaired and put back on the road, there is one
major difference you’ll want to consider before doing this. Cars in category S have had structural
damage to their frame. (This damage could be anywhere, including the chassis.)
Cars in category N had not had structural
damage to their frames.
Cars
in categories S and N often land in salvage yards where a third party will
purchase them, make repairs, and list them for sale.
Purchasing
Cars in Categories S and N
As
long as the car has undergone all the necessary repairs and has received
Autoalign certification, it is legal to purchase them. Their value is usually
much lower than a comparative car that hasn’t been classified as S or N. While
this means you may be able to get the car at a good price now, you will likely
have trouble selling it in the future. Have a look at a vehicle history check for factual information on car background. A good service includes finance, write off status, theft and mileage checks. See this free hpi check video for more information about this type service.
On
a final note, you should know that not all insurance companies will insure a
category S or N car. You will need to check with individual companies beforehand.
You’ll also want to do a thorough online check to make sure all information
about the car checks out.
Labels: background of a car, car history, carveto, cat a, cat b, cat c, cat d, cat n, cat s, category write off, free car check, insurance, insurance write off, miaft, vehicle history check, write off, written off
