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What Is A Salvage Car And How Can I Sell Mine?
There is a misconception that a car with a ‘salvage’ title is always a complete wreck; transformed into a pile of junk. But any vehicle that’s been involved in an accident or is the victim of significant hail, storm, fire or mechanical damage (whether it is running or not), where the repair or restoration costs exceed 70-75% of the vehicle’s cash value, will be ‘written off’ by an insurance company.
But what does it mean if your car has a salvage title? How does this impact its resale value and opportunities? How and where can you sell a salvage car in South Africa?
Understanding the salvage title
According to BusinessTech, “A vehicle is considered ‘salvage’ by the non-life insurance industry if it is ‘written-off’ following, for instance, a motor accident. The insurer would have assessed the damaged vehicle including the repair costs. If the motor assessor deems the cost of repairs to be uneconomical to repair, the vehicle would then be declared a ‘write-off’.”
Other instances where a car would be titled ‘salvaged’ include scenarios where the vehicle has been stolen and recovered.
Salvage cars are not considered roadworthy and cannot be driven legally until they are repaired, rebuilt, and inspected by a national standardised authority body. In South Africa, this is the Vehicle Salvage Database (VSD).
Where to sell salvage cars
When a vehicle is titled ‘salvaged’, it reduces the number of selling options available to you. Uninsured car owners do, however, still have several available possibilities when it comes to selling a salvage car (but not all are equal):
#1 A junk or scrap yard
This is probably the first outlet you consider when selling a wrecked car for salvage, but it is not the most lucrative.
A salvage yard assessor does not consider the value of your car’s functional parts, only paying you out based on the weight of the vehicle’s scrap metal.
The practical and financial logistics of getting it to the scrap yard and deregistering it all fall on you as the owner.
#2 A private buyer or collector
If you have the time (and the space in your backyard), then your patience may be rewarded with a good offer that makes sense.
However, the chances of finding a buyer looking for your particular car model who is willing to pay you a reasonable price for your salvage car are low. Collectors need to conduct major repairs on the salvage vehicle, leaving little room for initial sales costs. (There is also a great potential for scammers).
#3 Sell your damaged car to the experts
If you want a simple, easy, user-friendly and lucrative option for selling your salvage car, Sell Your Damaged Car is your go-to solution.
Here are 8 more reasons to choose us:
- We buy cars nationwide
- We buy all damaged cars in any condition, whether running or non-running
- Since inception, we have purchased over 7 000 damaged vehicles from happy customers
- A free towing service to remove the salvage vehicle from the place where it is currently stationed
- Guaranteed obligation-free cash offers within 24 hours of uploading your vehicle online
- We buy accident-damaged and salvaged cars still under finance
- A 4.66 out of 5 rating and 8.6 TrustIndex result on independent review platform Hellopeter, plus hundreds of positive reviews from our satisfied customers.
How to sell a salvage car
Selling salvage cars with SYDC is easy-peasy:
Step 1: Visit our website, fill out the online form and upload images of your salvage car in under 90 seconds.
Step 2: A friendly consultant will contact you within 24 hours.
Step 3: Receive an obligation-free cash offer for your salvage car.
Step 4: Accept the offer.
Step 5: Get instant cash in your bank account (We will sort out the towing and handle the deregistration of your vehicle).
Instead of navigating the ‘junkyard’ or private sale route, if you are sitting with an accident-damaged, wrecked or non-running vehicle, contact us and let us do the hard slog. As salvage car specialists, we know the value of your vehicle, plus we have the networks and the experience to offer you a competitive price.