Can I Sell My Accident Damaged Car That Is Financed?

You heard and felt the impending crash - almost as if in slow motion. Your car is not only accident-damaged but wrecked and you don’t know what to do. Navigating the aftermath of an accident is incredibly stressful PLUS you still owe money to the bank for this relatively new purchase and don’t have insurance to cover the costs. Where can you sell the car for a competitive price that will be prepared to deal with the bank on your behalf?

Sell Your Damaged Car buys financed accident-damaged vehicles (in any condition). And whether you are under debt review, still in arrears for a few payments or fully settled with the bank, we want to take the accident-damaged vehicle off your hands for the best cash price.

Follow our simple process

Still at the accident scene or sitting at one of our competitors in hope of a fair price?

Follow these easy steps:

  • Upload your personal details, contact details and vehicle details on our website contact form, a consultant will make contact and request photos of the vehicle (from all sides)
  • Specify any mechanical issues with the car
  • We determine the value of the vehicle through our com prehensive assessment process
  • You will receive an offer within 24 hours (during working days) via WhatsApp
  • You have 7 days to accept or reject this offer
  • If you accept, we will negotiate with the bank to offer you a competitive price (which is better than the frustration of negotiating a private car sale).
Woman cries on the phone after having a car accident.
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Many financed car owners find themselves in desperate situations following a crash, unaware of the option of selling the accident-damaged car and using this money to pay back the financial institution.

According to an expert in financed vehicles at SYDC, Elmarie Ras, “We have dealt with finance houses since SYDC’s inception in 2018. We have a good relationship with a number of banks and can negotiate an acceptable price.”

We are NOT saying that SYDC will eliminate all debt following a successful purchase, but the sale of the vehicle will definitely assist in RELIEVING SOME of the debt in arrears.

To illustrate, here is a case study example:

Henk owns a 2020 Toyota Corolla and has been making payments on the car for the last three years to a financial institution. He had an unfortunate accident on 16 February 2023 where the vehicle was written off due to accident-damage. At the time of the crash, he still owed R100 000 for the vehicle. He turned to SYDC for an offer on the morning of 17 February. We assessed the vehicle and decided to make an offer of R80 000. He accepted the offer, as did his financial institution. The R80 000 was then paid directly into the vehicle account leaving Henk with R20 000 owed to the finance house. Once the bank received the R80 000 from SYDC, they were able to release the paperwork for the car. Henk will still owe the bank the remaining R20 000, which he can pay off over the course of a few months or in one payment.

Men argue over responsibilities following a car accident.
Rest easy

We allay a number of common fears experienced by financed car drivers:

  • How will I deal with my finance house to relay the message about the sale of my accident-damaged car? SYDC has a good relationship with most finance houses.
  • How will I afford to pay for towing services on the accident-damaged vehicle? SYDC offers free towing, a quick offer and instant cash.

Any vehicle accident is scary and stressful. But having an accident when you are still paying off a financed vehicle is often even more concerning. Whether you still owe money, are in arrears or are under debt review, SYDC is here to help.

Has your insurance company rejected your claim due to tyre tread, roadworthiness or any other of the myriad of reasons? SYDC comes to the rescue.

Let Sell Your Damaged Car swoop in to wipe away your tears, liaise with the bank and tow your accident-damaged vehicle free of charge!


Ready to sell your car?

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