Do you have a wrecked vehicle dumped on your driveway, and you simply don’t know how to deal with it? How about giving it away for some cash? You may have survived a crash, but wrecked your car in the process. Damaging your favorite car has already resulted in a significant financial loss. On top it, leaving it in your parking lot or the backyard won’t do any good. Instead, you can look for auctions that list junk cars for sale, from where you can retrieve some money. However, before you initiate the selling process, there are a few questions that may just cross your mind. To guide you through the whole process, we’ve listed three useful tips that will help you make the process seamless:
1. Assessing the current value of the totaled car
After you have wrecked your car, your insurance company will inspect the extent of damage by evaluating the estimated repair cost. If the total repair cost exceeds the value of the car, it will be futile to repair. In addition, as a seller, you should always check out all the important aspects. You may also go online, and familiarize yourself with the information on your insurance claims and the insurer’s responsibilities to avoid confusion.
2. Obtaining the Salvage Certificate
Once your car is declared totaled, your next move should be getting the salvage title, replacing the clean title. You can visit the department of motor vehicles in your state, and apply for a salvage title for your car. The DMV issues a salvage certificate to owners, replacing the clean title. A salvage certificate, therefore, let the potential buyers know that vehicle has accidental damages, and it may not be roadworthy.
3. Selling the salvaged car with a reasonable margin
Once your car is declared as a total loss, the insurance company either offers to replace your car with a comparable one offers a cash settlement, or carry out some other valuation method with mutual consent. A common practice is also listing a totaled vehicle for online auto auctions to retrieve some amount. Seek out a leading auto auction portal that will create a listing for your car, assign a lot number, and will also get the vehicle delivered to your chosen auction yard. This is an effective way to put junk cars for sale and get a reasonable margin.
The conclusion
Wrecking a car is painful, but financial losses add to the woes. Once a car is given a salvage title, you keep thinking about ways to pull some money back by selling it off. This is where online salvage car auctions prove to be handy. The tips mentioned above will help you go through the due diligence and get a good deal.