Can a car worth 110,000 yuan be scrapped with a damage assessment of 40,000 yuan?
1 Answers
It can be scrapped. Below are the specific details about scrapping: Regulations: According to the "Mandatory Scrapping Standards for Motor Vehicles," registered motor vehicles that have reached the prescribed service life; still fail to meet the national safety technical standards for in-use vehicles after repair and adjustment; or still fail to meet national standards for pollutant emissions or noise from in-use vehicles after repair, adjustment, or control technology application, should be mandatorily scrapped. Damage assessment: After a vehicle is scrapped, the insurance company will conduct a damage assessment to determine the remaining value of the legal documentation. Generally, in such cases, the vehicle damage is significant. If the vehicle is covered by collision insurance, the insurance company will first deduct the claim expenses. The insurance compensation amount after scrapping is calculated based on a monthly depreciation rate of 0.6% after determining the insured amount.