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When Repair Costs More Than The Value Of The Car

Should You Repair Your Car Or Replace It?

the mechanic explains something to the woman pointing his finger under the open hood of the carIf you were involved in a car accident, you might be shocked by the estimated cost of repairs you receive from the mechanic. Or perhaps your engine is giving you troubles, and the repair shop just told you how much it will cost to replace it. Maybe wear and tear have had serious impacts on your car, and you just wanted to know what kind of work it needs.

Trying to fix a damaged car adds up fast. Whether it’s body damage, mechanical problems or something else, not all fixes are worth going through with. In some cases, you might need to decide if the cost of repairs equals more than the value of the car.

When you get an estimate from a mechanic to do work on your vehicle, you should take some time to figure out how much your car is actually worth. Use sources like the Kelley Blue Book and check out local sales to give you an idea.

Once you know how much your car is worth, it’s time to take a second look at the estimated cost of repairs. Is it worth paying for them, or is it time to replace your car and get a new one?

Don't Fix It - Sell It!

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When Repairs Cost More Than The Car Does

depressed woman sitting in front of the computer, holding bills in her handsWhen you calculate the value of your car versus the repair costs required, you should keep a few things in mind:

  • Will the repairs increase the value of my car?

  • How much could I sell the car for as-is?

  • How badly do you need a working car right now?

Each car situation is unique. However, assume your vehicle is worth about $6,000, and you received a repair estimate of $2,000. Will the $2,000 in repairs bring your vehicle’s total value to $8,000, or will it still be somewhere in the $6,000-$7,000 range?

Ask yourself another question: How much could you get if you sold the vehicle in its current condition? Combine how much the car could go for with the estimated cost of repairs. Could you buy a decent vehicle for that money? In that case, it might make more sense to sell, take your savings and earnings, and put them towards a new vehicle.

Finally, consider the headache associated with having a non-running car. If it will take weeks to repair your vehicle, you will have to figure out your transportation for that entire time period. Is your car worth the wait?

Where To Sell A Car Not Worth Repairing

the woman stands in front of three numbered doors and wonders which one to chooseYou can sell a car not worth repairing in any of the following places:

  • Junkyards and scrap yards

  • To a private individual

  • To a dealership

  • To an online car buyer

Junkyards and scrap yards typically offer you the scrap metal value of your vehicle. Depending on the car’s make, model and year, this may not be the best offer you can get on your car. Additionally, you might need to call multiple different yards to compare quotes.

Private individuals may also be interested in your damaged car. Keep in mind that you will need to schedule a time for potential buyers to come see the car. Additionally, if the car doesn’t run, you and the buyer will need to negotiate who will cover the cost of towing the vehicle.

Some dealerships may accept a damaged car as a trade-in towards a new vehicle. This may help you get a replacement car more quickly. Keep in mind that many dealerships do not specialize in trading and selling damaged cars. You might not get the best trade-in value for your car, and you will be limited in what kind of car you can buy as a replacement.

Selling your car online is generally the fastest and easiest way to get an offer and get paid.

How can I get a quote for my car instantly?

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Why You Should Sell Your Damaged Car To CarBrain

the man sits in front of the computer and shows Selling your damaged car online to CarBrain is the fastest and easiest way to get paid for your damaged car. We specialize in buying less-than-perfect cars, which means we know how to value your vehicle.

We offer quotes in 90 seconds. If you upload photos and your VIN, we can offer a guaranteed quote. Additionally, our offers come with no obligation - you don’t have to sell to us just because we make an offer. CarBrain quotes are also valid for seven days, which means you have time to think it over before completing the sale.

CarBrain offers ALWAYS include free towing and free title transfer. We can help you schedule your free pickup in under 48 business hours. There are no hidden fees or charges. Our associate buyers are ready to help walk you through the process and get paid in a matter of days.

How To Sell Your Damaged Car To CarBrain

Selling to CarBrain is simple. All you have to do is:

  1. Click “get an offer.”

  2. Fill out the form.

  3. Check out your quote!

Upload photos of your vehicle and its VIN to get a guaranteed offer right away. If you like our price, you can schedule your FREE pickup in under 48 business hours.

The tow truck driver will arrive with a check in hand. All you have to do is sign over the title and hand over the keys. You’ll get paid on the spot.

It’s that simple. Why wait? Call CarBrain and get started today.

Get Cash Value for My Damaged Car Now

7/22/2020

Expensive Repairs? Get a Cash Offer Instead