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.
Donate The Car To Charity
Some charitable organizations have the capacity to take in used cars as donations and make them tax deductible. However charities are becoming more picky about what they are willing to consider. Often times they will want cars that are in good shape and not damaged. Some will even charge you a fee to tow it away if your car isn’t on their “desirable” list.
But just because a charity says it is a charity doesn’t mean it is a charity. Some dishonest businesses will pocket every cent they make from the proceeds or take a very high percentage of the profits for “administrative” costs. What this really means is they pocket most of the money and give a few cents on the dollar to charitable organizations.
You may still get a tax deduction for donating to these shady charities, but if your main purpose is to help those who are in need through your car contribution, these organizations are not the way to do this. Check online to see if these assistance programs are legitimate and what their operating costs are. If they don’t offer paperwork or budget figures on operation costs, you can pass. This doesn’t mean you shouldn’t donate your car, it just means to be careful when you do.
Sell It To A Car Remarketer
Companies that make it their business to buy used cars are increasing daily. But with so many to choose from how can you tell the good ones from the bad ones? Besides a good offer for your car you should consider how well they treat you, additional services they offer, and what sort of reputation they have with the public. A good car remarketer will offer free towing service to haul your damaged car away, fast payment, good price for your car, and provide help in filling out the paperwork to transfer the car title from you to the company.
Some car remarketers offer advice and guidance, free of charge, on car insurance matters, options for taking over payments on remaining car loans, express payment services, and answering all your questions about the selling process.
Contact Carbidnow.com and see how easy it is to sell your damaged car.
Source: CNA Finance
(http://cnafinance.com/sell-car-doesnt-run/861)
Image Credit: WikiCommons
(https://commons.wikimedia.org/wiki/File:Damaged_car_door.jpg)