What Is Your Totaled Car Worth?

So, the unthinkable, or at least the thing we wish was unthinkable has happened, and you’ve been in an accident. Thankfully you’re okay, but unfortunately, your car is now totaled and the insurance company is not offering you enough money to make up for the damages. They will offer you a little bit of money in exchange for your car, but that’s because they plan to sell your totaled car themselves. You can read more about insurance companies and what to do with a totaled car here!

You don’t have to settle for that small amount though, you can choose to sell your totaled car yourself and make a decent amount from the sale. Although you can sell the car yourself, it is important to understand that there is a process to it. The first step is to determine how much your car is worth. To do that, you need to understand how insurance companies assess the status of a car.

How Can You Find Out How Much Your Car Is Worth?

An insurance company will declare a car totaled if the price to repair exceeds what they’re willing to pay. This does not mean that the car is beyond repair, it just means that it exceeds their budget. Therefore, a totaled car can still be repaired or made use of in many cases. You can determine what your car is worth by taking it to a mechanic and getting an assessment and comparing that to its Kelly Blue Book price. You can also price your car out by usable and salvageable parts. Different parts of the car have their worth, and you can find this information online or by talking to an expert.

After you’ve determined a rough estimate of what your car is worth, it’s time to find a buyer to sell your totaled car to. There are multiple options available:

Junkyards

Deal with old or broken items including vehicles.

Wreckers

Strip old autos of their parts and refurbish them.

Scrappers

Strip vehicles of salvageable scrap metals like copper and sell them.

Salvage Yards

Buy old cars and strip them for parts or refurbish them and sell them.

Pick and pull businesses

Businesses that specialize in picking out specific parts from vehicles and selling them.

Individual buyer

Individuals in need of your specific car for a variety of personal reasons.

Many of these businesses intersect with one another, so it can be difficult to narrow down exactly how much money you can get for scrapping your car.

What Kind of Cash Can You Expect Selling to These Places?

In most cases, if you sell your car to a junkyard or salvage yard, you will receive anywhere between $300-$500. You’ve probably even seen signs advertising “500 cash for junk cars” or “buy cars for 500” around your neighborhood. You shouldn’t expect to earn much more than what the sign says they’re willing to pay.

But you should treat the junkyards and scrapyard as a last resort unless your car is completely demolished. The best way to determine how much you should be getting for your car is to get quotes. Use car evaluation tools like Kelley Blue Book, Autotrader, Edmunds, etc. to see how much your car is normally worth. Then get an offer on your car by getting a “sell my car for cash instant quote” from online car buying businesses.

Get Top Dollar for Your Junk Car or Totaled Car!

There is a wide range of quality with these businesses, concerning the type of services they offer. If you choose to sell to one of them, make sure they offer you free pickup and 24-hour towing like Copart Direct. Copart Direct always pays top dollar for used cars even if they are damaged. There’s no haggling, or curbside negotiation when you sell to Copart Direct. We will give you an instant quote within 24 hrs anywhere in the country. There’s no better way to sell your totaled car because we’re the place that buys junk cars for top dollar.

Contact us at (888) 883-9981 or go to our online instant quote form

Get a guaranteed quote.

Wait for our free pick up and get paid.

Learn more about how you can make extra cash and selling your car for cash here!