It can be highly devastating to see your car wrecked in an accident. You don’t have any choice but to say a final goodbye to it and replace it with a new one. Since the accident might have occurred suddenly, you might have been shaken up and lost. But you must not get worried about it. There are many ways through which you can sell a wrecked car. First, you should ask some agency to get your car ‘Totaled’. It is always helpful to get a ‘Totaled’ quote as insurance companies use it in case your wrecked car needs to be fixed.
Four ways to get away with your wrecked car
- Taking the insurance check: It is advisable to opt for an insurance check if your car has total coverage. In such a case, you can get the money offered by the insurance carrier. The insurance providers calculate an estimate of the car’s value before the accident and will provide you with a check equal to that amount. They may deduct some amount if applicable. However, you must always do some research regarding the value of your car before you accept the offer from the insurance provider. One such source is CarGurus Instant Market Value calculator which helps to give a proper estimation of the value of your car. If you feel that the insurance company is not offering you a fair value for your car, you can opt for a third-party to help you in better negotiation. While dealing with a third-party appraiser, you must make sure that that there is a large discrepancy in the value offered by the insurance provider and the actual value of your car or else you will end up paying the appraiser even if you are not able to finalize a profitable deal. Once the deal is finalized, you will need to transfer your car’s title to the insurance provider. It must be noted that if you have opted for a car loan prior to the deal, you will be the one responsible for paying it off.
- Selling it as a salvage car: In case you haven’t opted for full coverage for a totaled car, you can consider selling it to a junkyard shop as salvage. In this way, you can earn more money than you would in case of an insurance check. To start with, you would require a salvage certificate from a local motor vehicle agency. You will then need to contact dealers or junkyards who are interested in buying wrecked cars. In case you have opted for junkyards, you must always consider the costs of towing the car and disposal of non-metal parts. Some of the junkyard owners offer free towing services while some may charge you premium rates for carrying away your car. After the deal with the dealer or junkyard owner is finalized, you will be required to transfer your salvage certificate to the buyer.
- Paying for the repairs on your own: If the damages are not severe, you can always consider getting your wrecked car repaired instead of selling it to a buyer. While deciding to get your wrecked car repaired, you will need to consider three important factors including the initial value of your car, the number of deductibles and repair cost.
- Donating it to a charitable institution: If you don’t want to sell your car for cash, you can opt for giving it away as a gift to a charitable trust or organization. This process requires some time and effort to research, but it will always do a lot of good to you. Not only you will get a tax deduction, but also peace of mind as you will be helping someone in need.
If you are in the US and you want to sell your wrecked car to a reliable company which can offer you the best price for your car then visit sellthecars.com. It is the only national car buying company which has been open for 30 years. The company offers quick pick up and payment on the same day.