It can be devastating to have your favorite car written off due to an accident. Fortunately, it is not the end of the road. There are many more things you can do with a destroyed car apart from having it repaired. Admittedly, repairing a write-off car is incredibly expensive and explains why it’s usually not the most reliable option for most car owners. For a vehicle to be considered a write-off, it should be in the range of 70 and 75% destroyed. This translates into a total loss, but you still have viable options to avoid feeling frustrated. Here are a few ideas on what you can do if your car gets written off.
Sell for salvage
Usually, insurance companies prefer to sell car parts when the vehicle in question is beyond repairs. However, the general perception is that insurance companies offer less money for write off car parts. For this reason, car owners prefer to sell these vehicle parts themselves with the hope of getting better or higher value for each one. Fortunately, there are several companies like Tonys Auto Wreckers where you can sell your car parts.
These establishments source spare parts from salvaged or totalled cars, refurbish them and sell them to the consumer who may not afford brand new parts. Indeed, you have two options if this is what you intend to do. The first is to leave your write-off car in the hands of the auto-wrecking company or present the parts to them yourself. Keep in mind that it’s not always an assurance that your salvaged parts will be bought. A purchase will depend on the reusability of each salvaged piece.
Accept the money offered by your insurer
It makes economic sense that a car beyond repairs is accepted as irreparable. In the same vein, a vehicle with repair work exceeding its total value must be treated the same way. Take this scenario, for instance. Your car was involved in a vehicular accident, and the driver at fault offers to pay for the actual value of your destroyed vehicle.
Logically, if the value offered is worth your car, you should accept it. At this stage, there will be a discussion between yourself and the insurers of the faulting driver. Indeed, every state has a threshold for vehicles likely to be written off. Moreover, the age and model of your car will determine how much you will be paid finally.
Donate the car to training mechanics
This can be the most challenging thing to do, and for most car owners, the reluctance to donate comes from losing money. Therefore, this option may not be ideal for persons strictly living on a budget or are after monetary value for a condemned car. However, if you feel charitable and want to contribute to society, a write-off car donation is an excellent decision. First of all, you must know that businesses that train auto mechanics are always on the lookout for write-off cars. This enables trainees to receive practical lessons on automobiles.
Trade to an automobile dealer
Many car dealers have totalled car services – this is when you trade in your write-off car for a new one at the dealership. In most cases, however, you may not receive payment for the actual cost of the vehicle. With a situation like that, you are compelled to top up to purchase a new car from them.
A more common occurrence with these dealers involves getting overpaid for your car. On the other hand, the new car you’re interested in purchasing will deliberately be priced higher. The best strategy you can use in this scenario is to negotiate until you get a fair deal.
This is a collaborative post.