If you're searching for ‘Can you trade in a damaged car,' the short answer is yes, but there are things you need to learn about assessing the damage at understanding the trade-in value for a damaged car.
It's not rare to deal with a situation where you want to buy a new vehicle but own another car with visible damage. In that case, you might ask yourself, “Can you trade in a damaged car?”
Understanding whether you can trade in the damaged car is essential when dealing with the dealership and before you even look into evaluating the new vehicle.
This article helps you answer this question and provides additional details to help you evaluate the damage and understand what to expect when approaching the dealership to trade in a damaged car.
Can you trade in a damaged car?
Many people who own damaged vehicles do not think it's possible to trade in this type of car, especially if the damage is visible. However, that's not the case.
Automotive experts indicated that you can trade in your damaged vehicle and use its value towards your new car. However, do you want to do that, and is it even worth your time and investment doing it this way?
That's why it's not only important for you to understand the fact that you can trade in a damaged car, but also it is more important for you to evaluate whether it's worth it for you or is it going to be rewarding to you or just a waste of time and effort.
How to assess the damage?
One way to determine whether it's worth it to trade in a damaged car is to assist with the damage and understand what type of damage you're dealing with. In other words, depending on the severity of the damage, sometimes it might be worth trading in your car.
For example, suppose you know that your car has some minor damages on the exterior, like those impacting the mirror or potentially some dents on the bumper. In that case, it might be worth exploring how much the dealership will pay for this car because these repairs could be minor.
Some experts recommend taking care of these repairs before you even approach the dealership because this might boost your chances of receiving a higher trade-in value for your damaged car.
On the other hand, finding a good dealership willing to accept that can be challenging if your car has major damages like those impacting the metal frame. Even more important is that the dealerships might accept it but not pay you the top dollar for this car, and it might not be worth giving them this vehicle where you can make more money using a different method.
How to evaluate the trade-in value for a damaged car?
One of the best things that could help you make an informed decision about whether you should trade in a damaged car is evaluating the trade-in value of a damaged car.
You can visit comment tools like Kelley Blue Book or edmunds.com. These tools will allow you to input the vehicle information, and we'll give you a value for when you sell the car versus when you trade it in. The value is typically a range of a minimum and maximum to what you need to expect.
Remember that the KBB value does not reflect the major car problems. In other words, if you know that your car has a lot of issues, you'll get the KBB value and then subtract the repair costs to get the true value of your damaged car.
If you're uncomfortable with doing the math yourself, you might want somebody like a mechanic to look at the car and give you a rough estimation. If you're looking for a real car estimation, you can talk to the dealership and get different quotes from different dealerships.
Before you move any step further in trading in your damaged car, it's recommended that you compare the value to other options. In other words, once you have a final trade-in value to your damaged vehicle, the next step is to evaluate other values from something like, for example, cash for cars companies and see if you would better sell your car outside and then use its value towards your new car or not.
What are the available options for trading in a damaged car?
If you decided that you were going forward with trading in your damaged car and you're happy with the available offer, you can choose one of the following options:
1. Trade in your damaged car as is
The most straightforward option you could take is to trade in your damaged car. This depends heavily on whether the dealership is willing to buy this car or not, and it also will depend on how much they're willing to pay for it because you might not make a good amount of money out of your vehicle.
2. Fix your car before you trade it in
As we mentioned earlier, sometimes it might be worth spending a couple of $100 to fix some minor problems and cosmetic issues in the vehicle to boost your chances of receiving a higher offer when trading in your damaged car.
3. Sell your car privately first
If you feel that the dealership is not willing to pay you what your vehicle is worth, you might want to look for private buyers willing to buy a car and pay you a higher value so you can use the money towards your new vehicle.
4. Get a salvage title
Finally, in some instances, and depending on the source of the damage, you might need to salvage the vehicle first and then trade in the car. However, having an established title can mean a lot regarding the vehicle value and might mean that the dealerships either won't buy your car or might not pay the top dollar for it.
What is the best option for me when trading in a damaged car?
If you want to get rid of your damaged car and receive the top dollar, you might want to explore other options that could help you boost your chances of receiving more money out of this vehicle.
However, at the same time, you don't want to spend months until you find a potential private buyer who might be interested in purchasing this vehicle, considering the major damages.
That's why one of the best recommendations in this article is to sell your car to Cash Cars Buyer. Cash Cars Buyer is one of the top-rated companies in the nation willing to buy your car regardless of its type and condition and can remove it within one to three days only!
The process is very straightforward and does not involve more than the following three simple steps:
- Describe your car
- Receive your instant free quote
- Get your car removed and receive your cash payment on the spot!
If you're interested in more details, call our team at 773-791-4363.
How much to expect for my damaged car?
Determining what money you will receive for your damaged car depends heavily on many factors. For example, if you plan to sell it to Cash Cars Buyer, we consider factors like your vehicle type, condition, price, scrap metal, zip code, etc.
The best way to get accurate information about your damaged car is by contacting these cash-for-cars companies or any potential buyer. By receiving these multiple quotes, you'll be able to compare them side by side and determine the true value of your vehicle.
Can you trade in a damaged car? Final Thoughts
If you're interested in purchasing a new vehicle and owning a damaged one, you might ask, “Can you trade in a damaged car?”
This article provides you with everything you need to know to trade in your damaged car or not and also provides you with some recommendations to help you make an informed decision about whether you should trade in this damaged car or sell it separately first.
If you want to sell your damaged car and receive the top dollar, call Cash Cars Buyer at 773-791-4363.
If you're interested in similar articles, visit our blog at cashcarsbuyer.com/blog.