It is not easy to sell a car profitably after an accident, but in some cases it is quite possible. After an accident, the cost of the vehicle automatically decreases, although the price is directly dependent on the nature of the damage. Seeking sales options soon after the accident is not a good solution. First, representatives of the insurance company will record information about the accident and its consequences. Only after that it is allowed to perform any actions with the car.
Options for action after an accident
If an accident hit the side or frontal part, the car cannot be restored. There is also no point in repairing if the geometry of the body has changed – the “driving” of the car entails a number of serious problems, the elimination of which does not guarantee proper operation. If the accident left traces in the form of dents and scratches, restoring the car to its original form is a matter of time. Probably, restoration work will turn out to be a big waste (for example, bodywork), but this decision will extend the life of the car.
Factors Affecting Auto Sales
A number of factors affect the outcome of the dilemma that has arisen – whether to sell the car after an accident or keep it for yourself.
- Brand and model – whether repair is justified by the cost of the car upon sale (in fact, restoration work is cost-effective only for expensive brands).
- Year of manufacture and degree of wear. Repair of the “old iron horse” is always more expensive, but options for installing cheap components are possible. And for the repair of new cars, discounts are often offered.
- The nature of the damage. In case of damage in the frontal part, body geometry or a downed electrical system, not every service is taken for restoration. A damaged boot can be replaced with a new one.
- Material capabilities of the owner of the investment in the restoration of the vehicle.
- Saving on the work of car mechanics. Non-serious damage can be repaired independently, but first objectively evaluate your mechanical skills.
After weighing all the factors, decide on further actions – to sell the car after an accident or to continue its operation after repair work.
Vehicle Valuation Methods
Before selling an accident damaged car after an accident, invite an appraiser, it is better if not one. So you will hear several independent opinions about whether to sell a car after an accident, how to do it, and how much you can help out in case of a sale. But the approximate cost of the vehicle can be calculated independently. There are several such methods.
- The method of comparative analysis. The benchmark is taken on cars presented on the secondary market and having similar parameters. But to neglect a professional assessment in this case is not worth it.
- The fair value method, characterized by complexity and high cost of holding. Used by insurance companies that calculate the amount of payments. It takes into account all the factors described above (brand, year, condition, mileage, etc.).
- Residual value method. It is used more often by legal entities (for example, a car was used as a taxi) when the vehicle more than paid for its market value.
After an independent or expert assessment of the vehicle, it is easier to decide on further actions.
Selling a car to Scrap Yards
Companies specializing in buying out damaged cars can help sell a car after an accident. The seller only needs to make a call and describe the damage resulting from the accident. The earned price, in this case, will be lower than the possible market price. After the parties agree on a compromise solution, proceed with the assembly of the package of documents, which includes:
- ID of the owner of the car;
- Vehicle registration certificate;
- Inspection ticket;
- Service book (if available);
- Deed of Sale
This option of selling a damaged car after an accident is suitable in order to resolve any financial issues before they become prohibitive in the expediting of commercial and non-commercial trading of personal property, including motor vehicles.
Car sale after restoration
This method of implementation is a “double-edged sword”, as they say. If you correctly approach the repair, from the sale of the vehicle in the future you can get a good profit. But to implement this method requires orientation skills in the secondary market and mechanical skills. From the ordinary motorist only payment for restoration work is required. Here you must not lose vigilance – from time to time you have to deal with paying for non-existent problems, which can easily be included in the list of resolved ones. After completion of the repair work, check the body for uniform gaps between the parts. If this is not found, then, probably, the geometry could not be restored or not quite suitable parts were used.
Selling a car in its current state
In this situation, the level of honesty before the buyer reaches high values. The seller submits an advertisement for the sale, describing the situation as it really is. Sometimes a demonstration of flaws to the buyer is even beneficial, but you can not count on selling a car for a high price. If the car after the accident can still be “put on wheels”, the buyer for the probable impossibility of acquiring an expensive vehicle will accept the offer.
Other options for selling cars after an accident
There is an option to sell the car to insurance companies. With the introduction of in-kind compensation, it is more profitable for insurers to have their own base of technical donors than to look for them on the side.
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