Tips For Selling a Salvage Vehicle
What’s a salvage title car? It is a car that an insurance company has determined to be more expensive to repair or replace than the vehicle’s value. It can happen after an accident, or if the vehicle is missing for about a month, which is when an insurance company replaces the vehicle.
If the car is found, it may be offered to a salvage yard by the insurance company, and then a salvage title will be issued. It can also happen if the car is damaged in an accident or otherwise, and it costs more than it is worth the repairs to bring the car back to what it was before the damage occurred.
You may have found and avoided cars online with salvage titles for that reason alone, which makes the idea of owning one a worrisome prospect. There are many negative connotations associated with vehicles with salvage title.
While this may seem bleak, you are by no means stuck in your vehicle for the salvage title. For what you can do with a salvage title, there are many options available:
- Sell it to a Junkyard
- Sell it privately
- Donate it
- Part it out
You can check each and choose which one works best for you.
Sell It To A Junkyard
Selling it to a junkyard is an easy way to get rid of your salvage car. This requires some preparation, but it’s as easy as calling up junkyards and selling to any that offers the best price. Though you will need all your paperwork in order to make sure that the car is operable, depending on which junkyard you sell to.
You’ll need to know what’s damaged from KBB or NADA on the car and the car’s value. Some junkyards can pick up your car while others may require you to bring it to them.
Sell It Privately
Selling privately is harder than selling to a junkyard, but selling your salvage title vehicle shouldn’t be too hard if you have a unique collector car. It’s all about finding the right buyer, as the title status won’t matter to everyone.
For a few months, some people just need a cheap car. Regardless, trying to sell it privately via an online classified ad or some other medium is worth a shot. You’re likely to get more money out of it than selling it to a junkyard.
Donate Your Salvage Car
You can donate it to a charity, such as Make-A-Wish, Cars For US Troops or Kars4kids, assuming the car is in good working order and has no massive problems. Not only can you help a needy community, but you can also benefit from tax deductions.
Sell Your Salvage Car In Parts
Selling in parts option is the greatest effort for you, far and away. Disassembling your car means dismantling it and selling the parts separately (or in groups). Overall, it takes longer and requires more effort on your part, but at the end of the day, you can get more money than the car was worth. Or, if you don’t really want to go through all this and don’t want to talk to a junkyard, you can try to sell it as a parts car. This is where almost every part of your car will be wanted by a buyer and decides to buy it as a whole.
It takes patience above all else to sell a salvage car. The patience comes in finding the right buyer that can take some time. That’s when you sell it to somebody, and of course, there’s plenty of options available. With your salvage title car, there’s no reason for you to be stuck.