Can Total Loss Vehicles Be Normally Traded?

[Debbie]

Total loss vehicles can be normally traded. Trading of total loss vehicles: It is not illegal. Total loss vehicles can be traded as long as they meet the national regulations for roadworthiness of motor vehicles. China prohibits the trading of scrapped vehicles. As long as a total loss vehicle has not reached the scrapping standard, it can be normally bought and sold. Actual total loss: This refers to a situation where the insured object is damaged but not completely destroyed—it can be repaired or recovered. However, the cost involved would exceed the value of the salvaged insured object, making it not worth the effort. In such cases, the insurance company abandons further attempts and compensates the insured with the full insured amount, which is considered a constructive total loss. The insurance company will repair the vehicle and then sign an agreement with an auction company to auction it. Many vehicles can enter the auction process within 15 days. Auctions can be conducted on-site or online, but the entire process is lawful and legitimate. Additionally, the insurance company will assist with the transfer of ownership.