If you really like the car take the payout, buy it back from them at the salvage value, fix it yourself. Resale will suck but the price will be right.

Personally, I’d take the payout and get something with 30k miles on it.

 

THX. Took your advise and got a 2016 SL AWD with 36K miles. Not thrilled with the body style, though.

 

Depending on how much they want for it, I'd probably fix it. In Massachusetts if the title doesn't change hands, the status of the title doesn't change. Talk to the insurance company and they'll tell you what applies in your state. The insurance company just paid me the difference in their proposed settlement offer and their price for me to buy it back. It was so worth it in my case as the damage was so minor. I had also just put new tires on mine for about $1200 all in not to mention all the rest of the crap I had done to it over the previous 12 months. They're probably going to let you buy it back for ~$1000 (my 2010 was $750 but had other small cosmetic issues that reduced the value). If they want more, maybe I'd consider letting them keep it.

Have a look around and see what you can get for the money they're going to give you. Make sure you consider the taxes you're going to pay (big deal around here.....). Lotsa reasons to keep what you have if it's in good shape and avoid buying another vehicle.