Total Loss

Repair costs exceed the value of the vehicle.

An economic total loss exists when the repair significantly exceeds the replacement value. In that case you generally receive the replacement value minus the salvage value. Within limits (the 130 percent rule), a repair is also possible.

What you can do now

The app creates the right letter with the correct statutes for you, free of charge and without signing up.

Create a letter to a company All guides

Related terms

Replacement Value
Diminution in Value

Next: The whole glossary (A to Z) · Look up laws · Guides

General explanation for self-help, not legal advice (RDG). Individual cases may differ: if in doubt, contact a consumer advice center or a lawyer.