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What You Should Do After A Car Accident
If you get into a wreck, the first thing you should do is call a police officer and your insurance company. But what do you do with your car? Learn all about what your next steps should be, and why selling to CarBrain might be the right choice for you.
Contact Your Insurance Company
The first thing you should do when you get into a car accident is contact your insurance company. If you have a serious wreck, you’re going to need insurance to help you cover the cost of repairs. Depending on the severity of your wreck, you might have to expect a hefty bill from a shop.
However, you may not necessarily be able to repair your car. This is because when your insurance totals the cost of repairing your vehicle, it will also calculate the actual cash value of your vehicle before the accident. Cars depreciate the moment they drive off the lot, so the cash value of your vehicle may be significantly less than what you paid for it.
If the cost of repairing your vehicle comes close to or exceeds the actual cash value of your car, your insurance company will declare it totaled. That means they won’t fix the car. Instead, they’ll buy the car from you, assign it a salvage title and sell it at a salvage auction.
When your insurance company pays you, they will give you a check for the actual cash value of your vehicle minus your deductible. You will no longer have a car, but you’ll have some financial compensation to make up for it.
However, you have another option if you’re looking for more cash. There’s a possibility your insurance company will undervalue what your car is worth. You may be able to retain your vehicle in order to sell it yourself and still get a check from your insurance company. All you have to do is ask the insurance company to allow you to retain your vehicle.
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Keep Your Car With A Salvage Title
When you retain your vehicle, you will still get a check from your insurance company. However, your insurance will deduct both your deductible and the amount they expected to receive for your vehicle at auction from the check.
Once you have the check and the salvage title for your vehicle, you can find other buyers in order to get a second check. For example, you can sell to private individuals or call your local junk and salvage yards. This gives you the opportunity to shop around and find out what your car is really worth.
However, there are some downsides to these methods. Individual buyers might haggle with you because they know a lot of money and work will have to be put into your car to get it running again. Junk and salvage yards may each require their own documentation in order to give you an offer, and even then, they may hit you with hidden fees or require you to pay for the cost of towing.
You can also part out your damaged car to earn cash. However, this requires some mechanical knowledge, time and effort. You will have to advertise each available part to people in your area. It can take months to finish selling off the parts of your car.
The easiest option? Sell your car to an online service — like CarBrain!
Sell Your Car To CarBrain
If you want to make a profit on your damaged vehicle, selling to CarBrain might be the right choice for you. Even if your vehicle has severe body or frame damage from a car accident, we’ll buy your vehicle for a fair market price.
CarBrain specializes in buying less-than-perfect cars. Getting a quote from us takes less than 90 seconds. All you have to do is click “get an offer” and fill out your car’s information. You can get a more detailed offer by including photos of your car and the VIN.
If you like our quote, we can help you schedule a pickup in under 48 business hours. Best of all, we include FREE towing and FREE title transfer in our service.
Not quite ready to sell? That’s ok. Our offers are guaranteed for seven days, so you have time to think it over. Once you’re ready to sell, you can contact our customer representatives to schedule your pickup. When the tow truck driver arrives, you’ll get a check handed straight to you.
Buying from CarBrain is the fast, safe and easy way to sell your damaged car fast. We’ll give you a fair price without the haggling, fuss or hidden fees you might deal with elsewhere. Why wait? Click “get an offer” and get started today.