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Can I sell my car before settling a claim?
"I was hit by another driver who accepted liability. I was planning on trading in my car for a new vehicle that week. Can I still trade in my car if there is a pending claim?"
Emily Maracle · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
“If you want to move forward with the insurance claim, you won’t be able to sell or trade in your vehicle. The claim will need to be settled beforehand.
Depending on how bad the damage is, your car may be deemed a total loss. If that’s the case, you will be paid out the actual cash value of the vehicle. The car insurance company will then own the car.
If your vehicle is repairable, you can get the vehicle repaired and then trade it in. Trading it in before settlement means the other company won’t pay for the damages.
If you need to trade in your vehicle now, you can try submitting a claim through your own insurance.
Collision insurance
will cover the repairs. Once repaired, you’ll be able to trade it in.”View full answer
- Gregory R.
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