When your beloved vehicle is involved in a serious accident, the aftermath can be confusing and stressful. One of the most significant decisions you might face is whether to repair your car or accept it as a total loss. In the insurance world, a car is deemed a total loss if the cost to repair it exceeds its actual cash value (ACV).
But is it worth fixing a so-called ‘total loss’ car, or are you better off selling it off as a junk car? This blog post aims to provide clarity on this challenging dilemma, exploring the factors you need to consider before taking a call on your junk car’s future.
If You Want to Repair a Total Loss Car
If your vehicle has been classified as a total loss, the first step should be to assess the damage. Get an estimate from a mechanic and make sure it is in line with what your insurance company has declared as its actual cash value. If you decide to repair the junk car despite being at a total loss, you will need to bring together funds and resources for the repairs. This could include your insurance provider, as well as money from other avenues such as personal funds or a credit card.
But before you decide to repair a total loss junk vehicle, be sure to consider the following points:
► Will repaired parts always be of the same quality as new ones?
► How much are you expected to pay out-of-pocket, and how much will insurance cover?
► How long do you plan to keep the car after repairs?
► Will you be able to resell it at a higher price than when it was totaled?
► Are there any risks associated with driving a car previously damaged in an accident (airbags deployed, structural integrity compromised, etc.)?
Don’t Want to Repair a Totaled Car?
If you think your vehicle is not worth repairing, then it’s best to sell it as scrap and use the money for something else. You can even donate the vehicle to a charity organization! The next step will be finding a potential Cincinnati junk car buyer who is willing to pay its market value despite its damaged condition. Once you identify interested parties, research them to make sure they are reputable and trustworthy.
Benefits of Selling a Totaled Car to an Auto Scrap Yard
Totaling a vehicle can be devastating – but there is a silver lining. Instead of leaving your totaled car to rot in your driveway, you can sell it to an auto scrap yard. Not only will you be able to free up space, but you’ll also be able to make a profit. Auto scrap yards are known for providing market-based payments for junk cars, making them a top choice for individuals looking to get rid of their wrecked rides. These junk car buyers specialize in dismantling wrecked vehicles, salvaging any still-functioning parts, and recycling all other materials. By choosing to sell your junked vehicle to an auto salvage yard, you’ll not only be doing yourself a favor, but you’ll also be making an Eco-friendly choice by reducing waste and promoting the reuse of materials.
Whether you go for repair or sale, the decision of what to do with your junk car should be based on your financial situation, a thorough assessment of the car’s damage, and the expectation of how long the vehicle will last. If you’re still finding it hard to decide whether to repair or not to repair a total loss car, consider seeking advice from an experienced auto mechanic.
If you are prepared to kick that totaled car to the curb, we can give you the best price in Cincinnati, Ohio. Contact GC’s Junk Cars at 513-991-4776 today and we’ll provide a free, no-obligation quote for your junk car! We look forward to helping you get cash for your total loss car today.