If you've been in a total-loss accident in the Los Angeles area, you may be wondering where you can go to get the most car for the insurance settlement you get. When it comes to auto insurance, are you really prepared for what it takes to go from being insured to being an insurance claimant?

How Much Money Do You Have to Work With?

Buying a Car after a Total Loss in Los AngelesHopefully you're prepared in the event that something unforeseen happens to your vehicle. In this case, you might have more options for replacing it than others. If you don't have a lot of savings, or weren't prepared for a rainy day, a total-loss accident can leave you with a limited budget to find a car.

Typically, your insurance company deems a vehicle a total loss if the cost of repairs exceeds around 75 percent of its market value. The percent your insurance company uses as their baseline varies by company and state. If you're unsure which percent your company uses, it's best to contact your insurance agent for details.

In California, depending on your coverage, insurance usually pays you either the cost of repairing your car, or the actual cash value of your vehicle, whichever is less.

Where to Look For a Car

Depending on your credit score and how much money you receive from your insurance claim after a total loss, you have several options when you're looking for a car in Los Angeles.

If your credit's not in bad shape, you may be able to use the insurance money to put a substantial amount down on a new or used vehicle from a traditional dealer. In this case, you may even qualify for a lease. If you're looking for a relatively new car without the new vehicle price tag, you can also shop for a certified pre-owned car at any of the dealerships along Figueroa Street.

On the other hand, if you're suffering with bad credit, you may not know where to look for an affordable vehicle, or if you even qualify for auto financing. The good news is that there are plenty of dealers throughout the City of Angels that work with lenders that can get people with less than stellar credit approved.

In this situation, you can use your insurance payout as a down payment to help your approval odds. If it's large enough, you may even qualify for a better interest rate or shorter term than you'd typically be eligible for.

If these options don't work for you, or if you've been turned down for financing, another option is to check out a buy here pay here dealership. Many of these car lots – where your job is your credit and approval is based on income and down payment – can be found along Hawthorne Boulevard. These in-house financing dealers don't always run a credit check because they don't rely on outside sources for financing, which typically makes getting approved easier.

Let Us Save You Time

If you don't want the stress of taking the Metro all over LA looking for your next ride, let Auto Credit Express guide you to a dealership near you that can help you get the wheels you need.

Simply fill out our easy auto loan request form today, and our experts will begin the process of matching you with a local special finance dealer that has the lending resources you're looking for. What are you waiting for? Put your TAP card aside and let us help you get your next vehicle!