The outcome of any car accident can be devastating to the people involved in it as well as the vehicle. In addition to the serious injuries one may suffer from the collision, there is also the possibility of ending up with a wrecked vehicle that is useless or damaged beyond its worth. In this case, it is better to consider selling the car as it cannot lawfully be operated on the roads.
However, for many people, selling a wrecked car seems impossible. They believe that their ride is too damaged and worthless and no one would be willing to pay a good sum for it.
The truth is there are many buyers who are interested in purchasing wrecked cars and will give you great money for their valuable parts. In this post, we outline four ways you can sell your damaged ride for the most cash.
Sell it to a junk car-buying company
One of the most popular ways to get cash for your totaled car is to sell it to a junk car-buying company. These companies are actually auto recycling centers that buy wrecked or unusable vehicles and dismantle them for their valuable parts, giving money to the owner in return. Depending on the severity of the damages your car sustained in the accident, you can get a good sum for the car parts that are still in good working order.
However, to get the best price, you should first do your research and look for a reputable junk car buyer in your area. For instance, if you live in San Antonio, TX, shop around for the nearest junk car-buying company and find out how to get paid for your junk car in San Antonio by selling its parts.
Also, don’t forget to ask the company if it offers towing services which will certainly help you save more money on transportation costs.
Search for a private buyer
Another common option you can consider to get rid of your wrecked vehicle is to sell it to a private buyer. These buyers can be local mechanics, car dealers, hobbyists, and even insurance companies that are willing to buy your ride for a good amount.
For instance, insurance companies are a great option to consider if your car is completely totaled from the collision. These companies will make you an offer to buy your vehicle based on its worth at the time of the accident.
And if you insured your car with collision insurance, expect to get the most cash from the insurance company. This way you will be spared the expense of repair costs or selling it to someone else.
Attend a salvage auction
If you want to sell your wrecked car for the most cash, you should try attending salvage auctions. This type of action basically serves as an intermediary between salvage yards, auto recyclers, and insurance companies where you can bid on your totaled vehicle and make a lot of money in the process.
The greatest thing about auctions is that you have access to many private buyers. In most cases, insurance companies are the ones that buy wrecked cars the most and will give you an even better offer than what you may normally get from an insurance adjuster.
The only downside with these salvage auctions is that your damaged car must be physically present at the auction. This means you may need to tow your vehicle there and pay the necessary auction fee for a chance to sell.
Donate your car to a charity organization
Probably the fastest way to get rid of a wrecked vehicle is to donate it to a charity organization. Usually, these organizations offer towing services and will come to pick up your vehicle on your behalf, saving you lots of money on transportation costs.
The thing is donating your car will not give you a tax break, so if you want to make money out of your junk car, it’s best to sell it. However, you might be eligible for some tax benefits for making the donation. You can also enjoy the satisfaction of helping a charity you love and respect.
You can also look for a charity organization such as a nonprofit, that buys damaged cars for cash instead.
The consequences of a car accident can be horrible, leaving you with a wrecked vehicle that is beyond its worth. Instead of storing it in your garage, you should consider selling it and making money in the process. For more information on how to do it, refer to our post and read about your selling options.