On a yearly basis there are tens of thousands of car accidents taking place and this means a lot of cars are damaged beyond repair. When this happens, many of us actually have difficulties in regards to what we can do with our vehicle and most of the times we just don’t realise the many possibilities with have with it. If your car has been damaged beyond repair, you should know there are a few options you can consider in order to properly dispose of it.
1) Part It Out
One of the most lucrative ways of getting rid of a wrecked car is to actually part it out. This is a process that can be really simple, but you have to keep in mind that you need a place to store the car until you’re done with it. Selling used car parts is an industry that just keeps on expanding and if your car is quite rare and the demand for parts is great, then you can only imagine how much money you’ll be able to make. Some of the parts you could easily take out from your car and sell number the rims, the evaporators, the air compressors, catalytic converters and of course, the engine. The next step to take is to list these parts on eBay or with a local database. After you manage to sell most of the valuable parts, you can just choose to scrape the vehicle.
2) Scrap It
Getting in touch with car wreckers is certainly a good idea to get rid of your car and still get something out of it. A scrap yard will purchase the vehicle from you and generally it will send out someone to pick it up from your place free of charge. Next, the scrap yard will just keep the car for some time and eventually it will sell some of the usable parts. When everything that could be sold is sold, the car is wrecked and used for scrap metal. Even though scraping a wrecked vehicle is the best way of getting rid of a car, it leaves you with little financial gain and it would be a pity to directly scrap it. Keep in mind that the profits made from the sale of your vehicle’s parts, once you send it to the scrap yard, will go into the scrap yard owner’s account.
3) Sell It Outright
You can still get some good money off your wrecked car if it’s in an acceptable condition if you manage to sell it outright. The best option if the vehicle can still be driven is to sell it; before you do this though, you have to check your state laws, as there might be certain forms you have to have before you can make the sale.
4) Donate to Charity
Donating your car to charity is a great way to help others who will repair the car and then use it. The car can be driven by the elderly who might have problems walking to the nearest supermarket or grocery store. On top of that, you will also claim a tax deduction.
5) Get the insurance company to fix it
Lastly, you can call your insurance company and if you are not at fault, you might get your car repaired and still use it. It’s a great idea and it’s worth considering this step.
With that being said, these are the 5 tips you can consider when you wreck your car. By keeping them in mind, you will be able to still recover some of the money your car is worth, so good luck!