Can I Salvage My Car For Cash?
Yes, when it comes to getting money from your wrecked car, there are actually many options. Though once a vehicle has been in an accident, it becomes nearly impossible to re-sell, or trade in for the blue book value. The consumer can approach the insurance company and ask for a diminished value claim, or sell the vehicle before repairs are done. For the vast majority of cases, it makes sense to do both. This is known as diminished value claim. Essentially, we see a significant drop in the value of a vehicle once it has been in an accident, regardless of the repairs made. It’s assumed that the vehicle has been repaired to the fullest extent, yet retains a lower value because of the crash. In fact, the standard rule for a damaged car is 15-25% less than the blue book value.
Think about this for a moment, once a vehicle has been in an accident, insurance companies cover the repair cost, but drivers are still left at a loss. Repairing the car is a costly, ultimately ineffective route, as resale values in the long-run will be low. People frequently ask, do dealerships take damaged cars? Yes, but they reduce the trade-in value significantly. A better option is to sell a wreck to a reputable company.
Who will buy my wrecked car?
Insurance Companies – Whenever you are involved in a serious car accident, where your vehicle becomes inoperable your car will be filed as a total loss. The majority of the time, your insurance company will give you a settlement for the vehicle and you will have enough money to purchase your next vehicle. This, however, is not true all the time and other means may be necessary.
Salvaged Auto Auctions – These are auctions are the middleman between you and many insurance companies. It is a process of bringing in potential buyers who will bid on your vehicle for the best competitive price. In essence, you can actually make more money by going through the salvaged auto auctions than going straight to the insurance companies.
Full-service Salvage Yards – These yards are services to are known to break down your late-model crashed car into parts and selling them to body shops, car dealerships, garages. Then they provide warranty for the parts that they sell to other companies. Because of this model from the full-service salvage yards, you can get very good money this way.
What is my best option?
Typically when determining the factors in the evaluation of your vehicle to get the best price you will find that there is a lot of variants in price as to what people think your car is worth. That is why we think salvaged auto auctions are the best choice. Let others determine what is the max price for your car by bidding on it against each other. If they want your car, they are going to have to outbid everyone else.
Let Trade Your Wreck Help
We here at Trade Your Wreck have our team of specialists evaluate and inspect your wrecked vehicle for particular damages and make sure your vehicle can be salvaged. We then put your vehicle through an online auction where other buyers bid and give the best price. You have the option of picking up a great offer at your own discretion. We make our process very simple and efficient so you can get your money fast. You can use it to get money for a used vehicle or a brand new car!
Get your FREE quote today! Just fill out the form to figure out what your wrecked vehicle is really worth. At Trade Your Wreck we have a long history of successful transactions and satisfied customers. There is no better option than us.