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More Cars Are Being Totaled as Repair Costs, Used Car Prices Bite

Modern cars are equipped with heaps of electronic devices, many of which are designed to reduce the frequency and severity of accidents. But there’s a catch: The high cost of repairing these systems may mean the vehicle is written-off, or totaled, following a crash. More than one-fifth of vehicles are now declared a write-off by insurers after examining claims; this is close to a record and around five times higher than in 1980, industry participants say. The proportion of totaled cars may incre...

Read more at bloomberg.com

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