How Much Can I Get for My Wrecked Car?
Posted on 18th, Sep 2018
Probably you think no one will be interested in purchasing your wrecked vehicle. Well, this is not true. There are many people and companies like Car Wreckers Brisbane who specialise in this trade. Below are ways to sell your wrecked car and get your money back.
How to Get the Most from Insurance Money
Usually, people with comprehensive insurance take the money given by their insurance provider. Once your insurance company (or that of the at-fault driver) decides the vehicle is entirely written off, it will decide on the vehicle’s worth before the accident. And then send you a cheque for that amount.
Conduct your research on the value of the car once you find out what the insurance company wants to compensate. It will help you get fair compensation. You can use online market value calculators to determine the value.
If you feel the insurance company is not offering a fair compensation, you can use a third-party appraiser to settle the difference provided this is an option on your insurance policy. However, you need to be sure that the discrepancy is significant. This is because you need to pay the appraiser whether they offer a satisfactory valuation or not.
Once you settle with the insurance company, you will sign your car’s title to them. If you have a loan, the lender holds the logbook and should be part of this transaction. It is important to note that you remain responsible for paying your car’s loan off even if the car is wrecked.
Selling the car privately
Instead of using an agent you can post an ad for your wrecked truck in Craigslist. Post all relevant details and be honest with what happened to the car and why you want to sell it. You can also post the ad in car related forums in the ‘’Buy/Sell” category.
Dealership trade-in can be very tricky. Typically, you need to show interest in a brand new vehicle so that the dealership can give a decent offer for your scrap car. You may also be required to pay for towing and other hidden fees. This affects the total Cash for Scrap Cars sellers get.
Want more Money? Consider Scrapping the car yourself
Scrapping the vehicle is another option. The remaining functional parts are worth more than the damaged part of the car. However, the process is time-consuming and requires a lot of effort to part the car. Moreover, you need to research on how to get different parts and remove them without damaging them.
Contact your area junked vehicle yard
Junked vehicle yards like car wreckers Brisbane are transforming the way car-owners sell their vehicles. It does not have to be tedious. Besides, you will get more money than you would from your insurance company. You can get cash for scrap cars whether running or not in the comfort of your home. They purchase all makes and models of vehicles from Toyota to Lexus to Mercedes to BMW to Hyundai. That means you will not incur any expensive repair cost.
Before selling the vehicle, contact a few junkyards in your area and inquire whether the yard offers more money if you remove non-metal materials like tires on your own
Just like any other commodity, shop around. Your nearest junkyard may offer a reasonable price, but the one across the road might be ready to pay twice the amount.
The junkyard will want to see your title and proof of registration.
The best option for your wrecked car depends on the accident’s circumstances and what the insurance company is willing to cover. Review your insurance policy and contact the sales representative before picking any solution.
If you have a damaged or wrecked car to sell, contact Wreckers Brisbane at 0401 242 410