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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 has been in an accident or is the victim of significant hail, storm, fire or mechanical damage, where the repair or restoration costs exceed 70-75% of the vehicle’s cash value, will be ‘written off’ by an insurance company.
"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’". - businesstech.co.za
It is also worth noting that cars that have been stolen and retrieved after the insurance has paid out the value to the owner, are also issued with a salvage car title.
But for the regular guy (or gal) on the street, a salvage title car also means that the vehicle is no longer roadworthy and needs to be deregistered. it cannot be driven legally until it has been rebuilt and inspected by a national standardised authority body. In South Africa, this is the Vehicle Salvage Database (VSD).
How to sell your salvage car for the best price:
If you do not have car insurance, you are faced with a challenge when selling a salvage car as the normal second-hand options are not going to work for you.
You do have a few options, but they are not all considered equal:
#1 A junk or scrap yard
This is probably the first option you think of when wanting to get rid of your chunk of wrecked metal, but definitely not the most lucrative. A salvage yard assessor is not considering the value of your car’s parts, but only the value of the scrap metal. The practical and financial logistics of getting it there and deregistering it all be at your expense.
#2 A private buyer or collector
If you have the time (and the space for it in your backyard) then your patience may be rewarded with a good offer that makes sense. But it is a very niche private buyer out there that is looking for a car to rebuild or dismantle for parts, and they are normally quite specific as to the make and model of salvage car they are looking for. These buyers will generally offer you a lower price to leave room for major repairs and profit. (You also have to factor in any potential aftersales risks from an unhappy purchaser).
#3 Sell your salvage car to us
If you are looking for top offers, a hassle-free experience, a free towing service, a quick turnaround, and instant cash for your car, then you should choose a platform for owners of uninsured damaged vehicles to sell their cars. We suggest you bookmark our online platform - sellyourdamagedcar.
Our years of industry experience means we know what your car is worth and we will buy salvage cars in ANY condition. (If that is not enough to persuade you, we also handle all the paperwork on your behalf).
If you are sitting with an accident-damaged, wrecked or non-running vehicle, instead of navigating the ‘junkyard’ or private sale route, contact us and let us do the slog. As salvage car specialists, we know the value of your vehicle plus we have the networks and the experience to offer you a really competitive price.