3 Reasons to Sell Your Totaled Car for Cash

Did your car get totaled recently? What do you do if your car is bad enough that it has earned a salvage title? At this point, you have a choice of what to do with your vehicle. What's the best course of action? Read on to find out why it might be best to sell it to a company that pays cash for unwanted vehicles.

1. Salvage Titles Are a Headache

When a car has a salvage title, you won't be able to operate it on any public roads, even if it's still drivable or if you have made repairs. You won't be able to use it to get anywhere.

In order to be operated on public roads, its title needs to be reclassified as rebuilt. You'll need to make the necessary repairs and have it inspected by your state's Department of Motor Vehicles. If they determine that it's safe to operate, they'll classify the title as rebuilt.

Unfortunately, they may decide that your vehicle isn't safe to drive. If this happens after you've spent a lot of money repairing your car, you'll be without a drivable car and have less money on hand to buy a new one. It's a significant risk to take.

Even if the car is successfully classified as rebuilt, you'll run into problems with your insurance carrier. Many auto insurance companies don't cover rebuilt cars, and the ones that do will charge increased premiums.

2. Private Buyers Are Unlikely to Show Interest

Because of the problems with getting insurance for rebuilt cars, many private buyers are uninterested in them. Even if you sell it to a mechanic that's able to make the repairs on their own, they probably won't want to run the risk of ending up with an inoperable car. Cars that have been totaled and given a salvage title are extremely difficult to sell.

3. Dealerships Will Rarely Give You a Good Deal

Dealerships are often more interested in totaled cars than private buyers since dealerships are typically able to either make repairs cheaply or use it for spare parts and sell the rest as scrap metal.

However, you're unlikely to get a very good price from a dealership. If they deduct the cost of estimated repairs from the vehicle's market value, you won't get very much — after all, your insurer declared the car totaled in the first place because repairs were going to be very expensive compared to its value. If the dealership decides to sell it as scrap, you'll only get a portion of its scrap value, since the dealership will take a substantial cut for themselves.

Instead, the best course of action is to sell your totaled car to a company that pays cash for unwanted vehicles. These companies don't care about the title status of the car since they're not driving them and they're not planning on making repairs. Instead, these companies remove any parts in the vehicle that are still in good condition, sell the parts, and then sell the car as scrap metal. Since they're able to extract the maximum amount of money from cars that have been totaled, you'll typically get the best price compared to other avenues.

If you're interested in selling your car for cash, contact companies such as Pick-A-Part Jalopy Jungle.

About Me

Choosing The Right Auto Parts

When your vehicle has a problem, you have to know how to troubleshoot the issue. Although many people are committed to going through and thinking carefully about how they will move forward, there is real value in having a great auto parts company available who you can turn to when you have questions. From understanding how to manage different aspects of the repair to learning how to handle different obstacles, choosing the right auto parts is one part perspiration and one part help from others. Check out this blog to find out more about auto part selection, so you can improve your next repair.

Search

Categories

Latest Posts

14 September 2020
Older cars that are no longer in production can be hard to find parts for, especially if there were not very many produced. If you are looking for par

28 July 2020
If your three-wheeled motorcycle has a damaged fender, you should make it a priority to replace the damaged fender as soon as you can. Although it mig

1 July 2020
When the weather is hot out, it can be hard on your truck when you need to deliver a load. Therefore, you want to make sure you get the right service