In most cases, insurance will not cover damage to your car in an accident. That means if you damage your car by crashing into someone or something, you'll be on the hook for the cost of repairs.
If you only carry the minimum insurance legally required, you won't have the right coverage to get assistance from your insurance company. The vast majority of states only require liability coverage, which covers damage you cause to other drivers and their vehicles in an accident. In order to receive financial assistance with damage to your own car, you'll need collision coverage, which is always optional.
If you do have collision coverage, congratulations! You've prepared for the worst. However, there are still some downsides to trying to use your coverage to fix your car.
For one thing, filing a claim to cover damage to your car will most likely raise your premiums in the future. You'll have to decide if it's worthwhile to cover the cost of damages now compared to how much more you'll pay in monthly premiums moving forward.
Another downside is that in most cases, you'll have a potentially hefty deductible you'll have to meet before your coverage kicks in. That means spending a lot out of pocket up front just to get financial assistance repairing your car.
Even after your vehicle receives the best repair, it still will likely take a big hit in value, to the tune of up to 30%. When it’s time to sell a car, up to 55% of people won’t buy a previously damaged car.
Finally, there's a possibility your insurance company won't let you fix the car at all. If they decide that the cost of trying to repair your vehicle is too high, they might elect to declare the car a total loss instead. That means they'll buy it off you, give it a salvage title and sell it at auction.
If you want to get rid of a crashed car right away, you can let your insurance company keep the car, collect your single check and move on. They'll pay you the pre-accident value of the car minus your deductible. However, there is a way to obtain a second check for your wrecked vehicle and maximize your profits.
If you request to keep your salvage car, your insurance company will let you buy it back. You'll still get a check from them, too! On top of subtracting the deductible, they'll also subtract what they expected to make selling the car at auction.
Once you have the salvage title for your vehicle, you can begin shopping around and comparing quotes from local junkyards, dealerships and other junk car buyers. This way, you can maximize your profits and put more money towards buying a replacement car.
The value of your totaled car depends on a variety of factors including:
Different steel mills in different parts of the country will have different prices for the value of scrap steel and aluminum depending on local supply and demand. Prices vary throughout the year.
It can be hard to predict the value of a scrap car ahead of time. However, based on the factors listed above you can get anywhere from $100 to $1,000 or more. The best way to find out the current market rate of your total loss car is to get an offer from local recyclers.
CarBrain makes it easy to get an offer for your junk car. It takes just 90 seconds to fill out our form and get an instant, guaranteed local market offer for your vehicle in any condition. Get started and find out what your car is worth today!
You have several options for where to sell your car. You can sell it to a local junkyard or scrap yard, trade it in at a dealership, sell your car for parts, find a private buyer or go online!
However, there are a few things to keep in mind when trying to sell a junk car.
It's a good idea to compare quotes from buyers before choosing a plan of action. This can help you avoid costly fees and sell your car for its actual value. Avoid lowballing buyers, who won't give you a fair market price.
CarBrain always offers instant, guaranteed fair market prices for all junk cars. With your VIN and photos of your car, we can make a reliable offer that won't change when we pick up the car.
All CarBrain offers are guaranteed for seven days, giving you time to think it over. Additionally, we can send a driver and your check in under 48 business hours so you can get rid of your car fast.
With over 13 years of experience, thousands of positive reviews and an A+ rating with the BBB, we know we can provide excellent customer service you can trust. There are no obligations when you get a quote, so why not? Find out how much you can get for your car with CarBrain today.
CarBrain will be happy to make a fair market offer for your damaged car. We buy cars “as-is” with no repair needed. Repairing your vehicle after an accident can be an expensive, stressful, long and complicated process. Selling your car to CarBrain may be a great alternative to repair. Submit your online request for an offer for an offer today.
The process is simple. Go to any page on our website and click "Get an Offer." For most cars, you’ll receive a guaranteed instant online offer. In a few cases, we may need a couple more details about your car. You will receive a call from one of our car buyers shortly after you submit the form, and they’ll give you your offer over the phone and email it to you.
CarBrain buys and picks up your totaled vehicle from virtually everywhere in the continental United States. Click here to visit our “Areas Served” page to verify we service your ZIP Code.
CarBrain takes into account a variety of factors when making you an offer for your vehicle. For example, your location, the wholesale value of your car pre-accident, the extent of damage or mechanical and electrical problems, the current market demand for your vehicle and its parts, its make, model, mileage and age all play a role of deciding the value.
For example, some cars, like a 20-year-old sedan that doesn’t start or run, won’t get the same offer as others, like a low-mileage two-year-old sports car with collision damage. Some vehicles fall in-between, like a high-mileage ten-year-old SUV with electrical problems.
There are no “book” values for damaged or salvage cars, but at CarBrain, we have over 30 years of experience in buying less-than-perfect vehicles. We strive to provide a fair offer to every customer.
CarBrain is a free service. There are no charges for evaluations and offers. If you sell a car with CarBrain, we pay for pick up and towing. We have no hidden costs. When you sell your car to CarBrain, we pay you, not the other way around.
You are responsible for any storage fees or repair expenses incurred before selling the vehicle to CarBrain.
CarBrain does not work with your insurance company to buy your damaged car. All we need is the title of your vehicle.
If you have insurance, it is up to you to ask your company to buy back the vehicle and receive the salvage title. Our associate buyers can walk you through the process if you need assistance doing so, but we cannot contact your insurance company on your behalf.
Once you have the title and the check from your insurance company, you're good to go and can sell to CarBrain in a matter of days!