Call insurance and see if they will class it as no fault. If so, take the claim, let them right it off for 5 grand, buy it back for under a 1000. Between the deductable, and the buy back, you should have enough to afford some upgrades.
Be careful if you do this...I'm not totally sure how this works, and I would recommend you call a registrations office to find out exactly. Also, this is more for Alberta, I'm not sure how things work out in Saskatchewan.
I believe the vehicle title will change to the salvaged status when you buy it back...you can't register it with this status. Then once you fix it, you need to have an inspection done (for Alberta, this is an OOP inspection with some additional structural integrity stuff, so probably pricey...say $150), at which point it will change to a rebuilt status (now you can register it again). This will stay with the vehicle forever, and when you go to sell it, if someone pulls a VIR at a registrations office, they will see that it's been rebuilt.
However, if you're getting $5,000 less your deductible and the cost of buying it back, out of it, then you probably don't care too much what the title status is.
Topic: I crashed! (Read 7082 times)