Totaled Vehicle

Did you know there are an average of 6 million road traffic accidents in the US every year? That’s more than 11 per minute.

If you’re involved in a car crash, your car may need to be written off as a total loss. Finding out your insurance is unable to cover repairs to your vehicle can be difficult.

But don’t worry: there are still many things you can do with a totaled vehicle. If you want to make the best of a bad situation, it pays to learn about your options.

Read on to find out three things you can do with a totaled car.

1. Repair the Vehicle

If your vehicle is totaled due to cosmetic damage, normal wear and tear, or has sentimental value, it can make sense to restore it. Sometimes, the agreed settlement will not be enough to buy a new vehicle, making repair an option.

When the insurance company pays your settlement, they will take your car and sell it for scrap or salvage. If you choose to keep the car and repair it, the insurance company will deduct the salvage value from your settlement.

Many totaled vehicles can still be drivable. If you choose to repair your car, You will receive a salvage title. If you later sell a repaired totaled car, you must disclose that it was salvaged.

2. Sell or Salvage the Parts

When your insurance company takes your car, it will break it down and sell the parts and materials. 

If you are knowledgeable about cars and have the skill to remove and value car parts, you may wish to do this yourself. By selling vehicle parts individually, you might make more than what your insurer is offering.

It can also be worth holding on to salvaged car parts if you have another junk car that needs repairs or if you work on cars often.

Even badly damaged cars can have parts that are worth holding on to.

3. Sell for Scrap

If you don’t have the time or skill to salvage car parts yourself, you could consider selling a totaled vehicle to a scrap yard or recycling center.

While insurance companies won’t offer much for old or badly damaged cars, many scrap yards buy junk cars for competitive rates.

There is no hassle when you sell your vehicle to a recycling center – you can often be paid the same day, and they will tow your totaled vehicle away for free. Sell your car for cash and get compensated on the spot!

How to Deal With a Totaled Vehicle Explained

So that’s the top three tips on getting something back from your totaled vehicle.

When a car reaches the end of its service life, use our helpful guide to figure out what to do next. By repairing, selling, or salvaging your junk car, you could end up better off than you expected.

Did you find this article helpful? If so, be sure to check out our other posts for everything you need to know about automotive, repair, and lifestyle.