How Much Can I Get For My Wrecked Car?
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After your car has been in an accident, you might be wondering, “What’s my car worth?” or “Who will buy my car in poor condition.” Below are some of the options you have depending on your situation.
Insurance Coverage
If you’ve been in a car accident, you may be able to get coverage for the cost of repairs if you were hit by another car. The other driver needs to have insurance that covers the damages, but if they are uninsured or the insurance company is claiming they are not at fault, you may need to consider another way to be reimbursed for your vehicle.
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If you only have minimal coverage and you’re at fault for the damage, then your insurance may only cover the damage to the other car. It is then your responsibility to repair your car or to sell your wrecked vehicle. Check your insurance policy and discuss with your insurance representative how you should proceed.
Selling a Car Privately
Selling your car privately becomes more difficult after an accident because cosmetic damage is expensive to repair, and most buyers will only pay for a vehicle that has little or no damage, so your chances of making money for your damaged car decline greatly. You need to know the repair costs associated with your car, and be upfront with a buyer about what repairing your vehicle will cost and what your car’s current title reads. If your car title has been changed to a salvage title, your offers may not be as high as you would have hoped.
Dealership Trade-in
Dealership trade-in can be tricky. You usually have to be in the market for a new vehicle in order for the dealership to make you a decent offer for your wrecked car, and you still may not be able to trade in a car with major damage. You’ll most likely need to pay for towing and the dealership may tack on additional hidden fees, which will affect the real amount you’re getting for your trade-in.
Scrapping Your Vehicle
Scrapping or parting a vehicle can be beneficial once a car is wrecked; the remaining working parts are worth more alone than as part of a whole car. The downside to this choice is the time and effort it takes to part a vehicle. You also need to do your research to know what you should be getting for each part and how to remove them without adding damage.
CashForCars.com
CashForCars.com buys wrecked and broken cars in any condition, running or not. We work with people who have been in car accidents to help them get money back for wrecked cars, and we tow them for free, so all you need to worry about is how to spend your cash.
The best option for your totaled or wrecked car depends on the circumstances of the accident and what your, or the other parties, insurance is willing to cover. Be sure to review your policy and find out what kind of coverage you have and review your options to find the best solution for you.
