Cars lose value with time. However, an accident is one thing that drastically lowers the value of any vehicle on the road. The same happens when an accident happens and results in mechanical problems.
At that time, it may be challenging to get the actual resale value of your car, which calls for more ideas. Repairing may not be an option, considering it may cost you a couple of thousand dollars to get it into a working state.
When and how to get rid of a smashed car
How do you know it is time to get rid of your car? Usually, there are three crucial things to consider. These include:
- How much would it cost you to repair the vehicle?
- How much use are you likely to get out of your smashed vehicle?
- How old is the car?
If it is expensive to repair, you do not anticipate that much usage after, or the vehicle is too old, it is time to look for another way to get value from your car. So, what do you do if you are at the road’s end after smashing your car? Here are things to do if you have a smashed car in Melbourne.
Things to do with a smashed car in Melbourne
If you are in an accident, you do not think of how to sell your totaled vehicle. First, ensure everyone is safe before moving to a safer spot and calling the local police. Also, you can take photos of the incident for your insurance company later.
Next, there are 5 things to do to your car.
1. Verify that your insurance provider has rendered the car a total loss
A total loss car would cost more to repair than to buy a new one. So, you can visit the mechanic for an inspection if you have a smashed car. If the mechanic’s diagnosis and the insurance provider confers, you will receive compensation for your vehicle’s worth.
2. Find out the actual cash value of your car
Once declared a total loss, the insurance company comes up with an actual cash value for the car. This helps them draft a sum of money they will pay you to buy the junk car, minus any deductibles if you are responsible for the accident.
To get the actual value of your car, you can sell your car to Scrap Car Removal.
3. Compare the estimates
Check the local scrap metal market to come up with an estimate for the cash value of your car. If your prices differ and you are unhappy about the difference, you can hire an appraiser to do a second evaluation and take the value to the insurance company.
4. Sell your car to the junkyard
If your car can no longer serve you, you can consider selling it to the dealership or junkyard. You would then obtain a salvage certificate for the vehicle for future reference.
5. Donate your car to charity
Some organizations use totaled cars for lessons or training. You can also give your totaled car to an organization, provided the charity qualifies for a tax refund.
You can also read this guideline if someone you know face a car accident. A summary of what you need to do if you are in a crash.
Bottom line
If you have a smashed car in Melbourne, you may let the insurance company salvage it, or you can sell it to your local junkyard. Alternatively, you can donate to charity and contribute to a worthy cause.