When a car is badly wrecked, the driver’s auto insurance company often writes the vehicle off as a total loss. The driver receives an insurance payout for the fair market value of the vehicle and typically puts the money toward buying a new one. However, a check from the insurance company isn’t the only reimbursement the you can receive. You also have the opportunity to sell your wrecked car to a junkyard that buys wrecked vehicles and sells their parts.
Selling a wrecked vehicle to a junkyard typically pays you a few hundred dollars, although the price for some vehicles can be a bit higher. In this entry, we list some important steps that will help you receive the most money from the sale of your wrecked vehicle. If you need some additional guidance on what to do to sell a wrecked vehicle, just call one of our Texas locations in Austin, Belton, Holland, or Lubbock today. We’d be happy to help you out!
1. Determine Whether the Vehicle Can be Repaired
First and foremost, you want to be sure that your wrecked car is an end-of life vehicle and not one that could be repaired for a fair price. If you can repair the vehicle in a way that prevents it from receiving a salvage title, you may have the opportunity to sell it as a used car and instead of as a junker. More often than not, used vehicles — even ones that have many miles on the odometer and some dings on the exterior — sell for significantly more than salvage cars.
2. Receive Price Quotes From More Than One Seller
If you’ve determined that the vehicle is a total loss and are ready to offer it to a junkyard, it’s time to start soliciting price quotes. Because some junkyards inevitably pay higher prices for junk vehicles than others, it’s a good idea to receive quotes from at least three different sellers. Even if the best price quote is only a few dollars higher than the others, that’s still money that you wouldn’t have in your pocket otherwise. Before you accept an offer, be sure to see step three.
3. Sell to a Buyer That Offers Customers Free Towing
Before you accept a sale offer, be sure that the buyer offers free towing services. Otherwise, you’ll have to pay for the car to be towed to the junkyard, which will cut into the money you receive and possibly require you to put some money that you already have toward towing. Free towing may sound like a junk car seller’s dream, but there are plenty of junkyards that offer it. In order to maximize the financial value of the sale, you need to receive free towing services.
4. Do not Engage in Price Haggling With the Buyer
It’s hard to tell whether the buyer will price haggle until it comes time to make the sale. If you reach that point and find that the junkyard wants to haggle, cancel the transaction and look for a buyer who respects your needs as a customer. Because the value of a junk car is defined by the value of its working parts, there is no such thing as price haggling to get more money. The price can only be haggled down to an unfair number, and that shouldn’t happen.
Need to Sell Your Wrecked Car in Texas?
If an auto accident has made your vehicle reach the end of its life, the car may not be as “worthless” as it seems. A junkyard is likely to offer you the chance to sell your wrecked vehicle. To receive a price quote from a junkyard that pays some of the best prices in the business, call Wrench-A-Part. You can also contact us by filling out the contact form on our website. We look forward to hearing about your vehicle and having the chance to make you a nice offer!