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Salvage Value of Your Totaled Car

salvage-value-of-cars

If you’re reading this, you might be wondering “what is salvage value?” or more specifically, “what is the salvage value of my totaled car?” When it comes to motor vehicles, salvage value can have several different meanings. 

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What is the Salvage Value of my Totaled Car

The most common salvage car definition applies to cars with a “salvage title,” which denotes a vehicle that’s been in a major accident and been written off or declared a total loss by insurers. Sometimes these vehicles are repaired and re-sold, other times they’re handed off to a local junkyard to part out and then scrap.

Other times, the “salvage car” definition applies more loosely to vehicles with extremely high mileage or major mechanical issues that are beyond repair. Thus, salvage cars prices can vary widely based on the make, model, year and condition of your vehicle.

Let’s take a look at the salvage value formula and how you can use it to find the value of your car.

How to Calculate Salvage Value

How to Calculate Salvage ValueThe actual math for determining salvage car prices is pretty straightforward. Like regular used cars, depreciation will proceed at a predictable rate for the lifetime of the vehicle—so a vehicle purchased for $20,000 might be worth $5,000 after five or seven years of regular use.

But then you have to factor in additional wear and tear—everything from fender benders to major accidents—that can further reduce the value of your vehicle. Salvage value is typically much lower than used car value based on a few factors; primarily whether the car has been repaired or not.

Is the NADA Salvage Value Relevant?

Salvage title value, if a car has not been repaired after a major accident, will only be 10%-50% of used car value. Even if you do go out of pocket for major repairs (or insurance pays for them), you’re still only likely to receive about 70% of the value of a used car that was never damaged.

In any case, NADA my car value is rarely an effective measure of what your car will be worth, since dealers and junk car buyers will try to discount even the most pristine used cars just to cover their bases and increase their profit margins (most sellers are eager to get rid of their old junk cars anyway).

Getting a FREE Car Price Check in Less than Two Minutes

To ensure you’re getting fair salvage value for your vehicle it’s essential to get a second opinion so that you have a basis for comparison.

The quickest way to do that is by using our online pricing tool here at CarBrain. All you have to do is answer a few simple questions about your vehicle, and we’ll give you a guaranteed, no-obligation offer in just 90 seconds. We buy salvage vehicles for top dollar all over the country. Calculate the value of your salvage car instantly!

You’re free to shop around, and there’s never any pressure to sell, so you’ll get peace of mind knowing you can always sell your vehicle as-is to CarBrain, without the hassle of expensive repairs.

Did You Know?

Our team of experts has made over a million offers on less-than-perfect cars over the last seven years alone. Each of those offers was guaranteed, and every one of our offers comes with FREE towing and junk car removal—so it doesn’t matter whether your vehicle will even start or run. We buy junk cars, salvage cars, totaled cars, and cars with major mechanical/electrical issues. When you’re working with CarBrain, you’re working with the experts.

Getting “Discounted” Salvage Title Value

Having a salvage title on your vehicle can make it difficult to sell—usually reducing the Kelley Blue Book/NADA my car value by 50-70% when compared to a used car that hasn’t been in a major accident. That means any time, effort or money you sink into repairing your vehicle can potentially be at a loss, and you’re better off cutting your losses and moving on to a new vehicle.

How can I get a quote for my junk car instantly?

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Where Can I Sell my Salvage Vehicle?

Where Can I Sell my Salvage Vehicle?Dealers and private car buyers typically won’t think twice about buying a salvage car—serious damage or otherwise. If they do, they’ll insist on a serious discount that often means the sale won’t even be worth your time.

That leaves you with local scrap yards, who are notorious for the lowball offers, various scams and intense pressure to sell on the spot… or you could sell to the experts here at CarBrain. We specialize in appraising, buying and selling less-than-perfect cars, which means we can often get you more for your old salvage vehicle than almost anyone else out there.

The process is straightforward thanks to our online pricing tool, and we’ll never hassle you to sell if you’re not entirely comfortable with our offer. Once you do decide to sell, we can come to pick up your vehicle from your home or office and put the payment in your hand within 24-48 hours. That means you can handle the whole streamlined process with no fuss, and without even having to leave the comfort of your home or office.

Getting Maximum Salvage Value (With Minimum Effort)

Scrap car prices are hovering near their all-time lows, and you shouldn’t have to settle for a penny less than what your car is worth. Contact CarBrain today and discover how we’ve earned thousands of five-star reviews and one of the best reputations in the industry. The whole process can be finished in as little as 24-48 hours, and you can stop worrying what to do about that salvage vehicle you’re stuck with. Just click HERE to get started with your free online offer today!

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