<prompt> Human: About two weeks ago I was in a car accident that was deemed to be the other parties fault via dash-camera footage, I might add. While the original insurance adjustors estimate was 2,700, the cost of repairs have now gone up to around 5,800. The car is only worth 7,000, so it will most likely be totaled insurance company states they begin the totaling process at 65. I will find out next week for sure.I owe 9,000 on the car and have GAP through the same lien holder but the repairs arent honestly that bad. Its all body work, and excluding the painting I can do all of the work myself. Additionally, my credit score is not where it was a little over 3 years ago when I got the car. That being said, Im considering purchasing the vehicle back - but Im a little confused on how that would work. I have read some places that I can get the car back, minus 1,000 that the other parties insurance company will pay me for the vehicle. However, if I do this, will the GAP insurance still cover that amount, less the 1,000? So if they give me 6000 for the car, take away 1,000 because I am going to keep the totaled car leaving me with 5,000 will the GAP insurance company still pay off the remaining balance of the loan?  <response>: Be aware if you decide to keep and repair the car it will have a significantly decreased value of usually only a few hundred dollars more than scrap as you must declare it as a salvage vehicle and apply for a rebuilt title. Everyone will be able to see that the car is totaled if you ever go to sell it and if you fail to disclose the salvage status it is a felony in most states.The other parties liability insurance will not pay out more than actual cash value no matter what you choose. If you decide to keep the car they will charge you for the appraised salvage value of the vehicle that they would get if they were to sell it at auction. If you take the car back you also take the risk that the repairs will outstrip the vehicle value, and since the vehicle has been totaled there is no ability to pursue supplementary claims.As for the gap insurance that will cover the difference between Actual Cash Value and the remainder of the loan balance. I dont believe the decision to keep your car should impact your settlement. Gap insurance wont cover the salvage value but would probably still cover the loss on the loan. Check with your insurer to find out for sure. 