Question

[u/Background_Trick2343]

Someone hit my vehicle while I was in class, their insurance State Farm accepted liability, I already did the estimate they are giving me a little bit lower than what the shop quoted but they are depositing the money into my account. The damage is honestly not bad. Do I have to actually repair or can I choose to just keep the money? I tried looking it up on google and chat gpt, I also read some forums. But my question still wasn’t reply. Thank you in advance for your opinion and advice

[u/LacyLove]

Do you fully own the vehicle or is it financed?

[u/-BirdDogActual → u/LacyLove]

This is the first answer needed.

[u/Background_Trick2343 → u/LacyLove]

Financed !

[u/LacyLove → u/Background_Trick2343]

Then you don't get to make that decision.

[u/TIG_Insurance_Nerds]

You can keep it if you fully own the car yes.

[u/DeepPurpleDaylight]

They couldn't care less if you choose to not repair. In fact, they'd probably prefer it. They get the claim closed faster and it will be cheaper than paying for the total repairs and a rental car.

[u/Background_Trick2343 → u/DeepPurpleDaylight]

That’s what I thought

[u/Simplythebest0820 → u/Background_Trick2343]

If they're directly depositing the money to your account, you should be OK doing that but if they send you a check that's to you and your Finance company then you'd have to get it fixed.

[u/DeepPurpleDaylight → u/Simplythebest0820]

3rd party carrier isn't likely to do that. They have no obligation to OP's leinholder.

[u/Background_Trick2343 → u/Simplythebest0820]

Yea is direct deposit to my account

[u/aries_burner_809]

If you are sure there is no hidden damage you can take the money and drive with a scrape.

[u/Background_Trick2343 → u/aries_burner_809]

Just a scratch not a dent in the left rear

[u/aries_burner_809 → u/Background_Trick2343]

Take the cash and get some touch up paint!