"How can I make amends for totaling my parents' car and paying for the damage if I'm short on funds?"

A car is considered "totaled" when the cost of repairing it exceeds 65-70% of its market value, not just when it's badly damaged.

Insurance companies use a complex formula to determine a car's actual cash value (ACV), considering factors like mileage, condition, and added features.

The insurance company's assessment of your car's value can be disputed, and you can appeal their decision if you think it's unfair.

Even if you're at fault for totaling your parents' car, you're not necessarily responsible for paying for the entire cost of a new car - the insurance company will contribute to the settlement.

If you decide to keep your totaled car, you'll need to pay the insurance company the salvage value of the vehicle, which can be significant.

Insurance companies have varying policies on totaled cars, so it's essential to review your policy and understand the specifics.

In some states, there are specific regulations regarding totaled cars, including requirements for salvage titles and inspections.

The process of settling an insurance claim for a totaled car can take several weeks or even months, depending on the complexity of the claim.

You can negotiate with the insurance company to get a better settlement offer, especially if you have evidence to support your claim.

If you're short on funds, you may be able to negotiate a payment plan with the insurance company or your parents to cover the cost of the damages.

A car's salvage value is typically calculated by considering the demand for the car's parts, its mileage, and its overall condition.

In some cases, you may be able to keep your totaled car and repair it yourself, but this will depend on the insurance company's policies and state regulations.

Totaled cars can still be driven, but they may not be roadworthy or safe to operate, so it's crucial to prioritize safety above all else.

If you're unsure about the insurance company's assessment or the claims process, consider hiring a public adjuster to advocate on your behalf.

Emotional distress and financial strain can be significant consequences of totaling a car, so prioritize communication with your parents and seek support if needed.