Automotive

Wrecked Cars: Solutions to Salvage the Total Loss

Did you know that more than 5 million car accidents happen each year in the United States of America? Wrecked cars are difficult to deal with for owners that don’t want to suffer from a total loss. It can seem tricky to figure out how to move forward while recouping some of the value of your totaled car or your damaged car.

Sure, you can give your damaged cars to junkyards for free, but you won’t get any value out of that. The good news is that you’re in the right spot to learn about your different options when it comes to getting value for your damaged cars.

Keep reading this article for some helpful tips today!

Take the Money From the Insurance Company

Your first option if you’re involved in an accident is to accept the money that you get offered based on your totaled car’s value. Each insurance company has its own formula for determining the value of a totaled car, but if you get a great offer then you should accept and put that money towards a new vehicle.

Sell to a Junkyard

Another great option that you can look into when trying to get money for wrecked cars is selling your cars to a junkyard. Start searching on Google for any person who buys junk cars. These junkyards will give you cash that day for bringing in your wrecked car.

The best approach is to buy a salvage yard that has a license and that will tow your wrecked car to their junkyard for you. Make sure you do your research to find out more about the value of your totaled cars before you sign the dotted line and sell them to a buyer. You don’t want to find out that you lost thousands of dollars by selling your damaged car for far less than it was worth.

Donate the Car

Even if it isn’t worth it to you to repair the car, you can always donate it to someone that is in need of a car. Find a local donation service that will take the car and work with them to find a time and date that works for getting the car towed to their location. The company will likely sell it for parts and you can deduct the value of the car from your taxes for that year.

Sell for Salvage

The insurance companies that write you checks for totaled cars do so in order to sell the car parts for a profit. There is no reason why you can’t do this on your own and cut out the middleman in order to make some additional money.

Now You Know Your Wrecked Car Options

Sometimes it is difficult to decide what to do with wrecked cars after you’ve been in an accident. Do your research to determine the value of your totaled car before accepting a check from the insurance company. You can also look at donating your wrecked car or selling the parts for profit.

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