Your vehicle has been in an accident and is it now damaged and declared by the insurance company as totaled. How does that affect you? What does this mean?

If your vehicle has been declared as totaled, This means that Your vehicle will cost more to repair than the insurance company has determined it will be worth when it is fixed. You are left with a decision: Do you take the check from the insurance company and hand them the hunk of junk, or sell it yourself?

Why Should You Sell Your Damaged Totaled Car?

Your car might be worth more to you as an independent sale than the cash the insurance folks are offering you. They will be offering you an amount based on statistics listed in books, not necessarily the real world value of the car. Depending on the make, model, and year, you may be driving a vehicle that does very well on the parts market and folks are looking for good condition body parts, engine components and even computer parts. You would have to do some research, but by bypassing the insurance agency, you’ll be reaping the profits they would make by doing the same thing.

4 Steps How Do to Sell Your Damaged Totaled Car?

Declared a TotalYour insurance adjuster has to review the damage to the vehicle then complete a form declaring it a total. You would not accept the check the company offers you for what they think is the value of the car.
• Obtain a Salvage Certificate – Take the paperwork from the insurance company declaring your car a salvage to your department of motor vehicles and apply for a salvage certificate. This will replace its title. If somebody registers a salvaged car, it should be noted that some insurance companies may refuse to insure it, if it is insured, the rates will be considerably higher.
• Research Value – Check with a few local salvage junk yards such as 954 Junk Car and determine what the entire car is worth. Then also find out what various parts are in demand. Don’t sell yourself short by comparing the salvage to cars sitting on used lots, as it is not necessarily a fair comparison.
Decide On a Buyer – Who do you want to sell the car to?


Comments are closed.