Getting rid of your damaged car may not be as difficult as you think if you understand what your options are. If the damage isn’t extensive, you can always repair it and sell it. If you were involved in a car accident and you received a claim check from your insurance company, you can use this against the costs of fixing the car. But if your car is wrecked or damaged so much that it isn’t drivable, this presents a different set challenges.
If you are planning on selling it to private parties, one thing to consider is whether your car is a popular model or not. If you own a damaged Toyota Camry or Honda Accord, you’ll be getting a lot more money for your vehicle when compared to a Ford Fiesta, for instance. But it will be a while before anyone takes you up on your offer. You may get phone calls from car salvage companies or junk yards that will offer you very low bids for your car.
If you own a popular model car, you may want to consider selling it off in pieces, otherwise known as “parting it out.” It may surprise you that parting your car out will get you considerably more money than selling it whole. But selling the car piecemeal can take a long time and will require you to be diligent in advertising your car and fielding questions from potential buyers. To some, the extra money gained by selling the car off in parts isn’t worth the time and the trouble. More...