Whether your vehicle was involved in a car accident or experienced significant damages, you realize that your vehicle is sitting in the repair shop than in your garage. Did you notice that repair costs are piling up? Did your vehicle get to a stage where repair costs more than the car is worth? Well, what do you do next?
Determining whether it's worth repairing your car or not can be a tough decision. To make it simple, you can answer this question by doing a quick math exercise.
The purpose of this article to walk you through simple steps to help you make an informed decision about whether it's worth repairing your car when repair costs more than cars worth or not.
Repair costs more than cars worth: a quick math exercise!
To answer this question about whether to repair your car or not, you need to do simple math and help you do so.
Before paying a penny in repair costs, ask yourself the following questions:
- If I paid for the repair, will this enhance the value of my vehicle?
- How about keeping the value as is?
- Do I need my vehicle working so badly?
To make your thoughts a little easier, let's take this example. Assume that you have a vehicle that is worth $10,000, and your professional mechanic asked you to pay about $4000 for repairs.
The question to you now when you pay the $4000, will this bring your vehicle's value up to $14,000? Or, it will keep it somewhere between the 11,000 and $13,000 range?
At the same time, you need to ask yourself, if you sold your vehicle right now without performing any repairs, how much could you get out of it? Compare this money to the amount required for repairs.
Lastly, if you decided to do some urgent repairs while keeping some of the minor ones not taking care of, how will you handle the headache associated with daily car problems?
By this point, you should be able to consider whether it's worth repairing your car or not. The shortest answer is if repair costs get close to 75% or more of your vehicle's worth, it's never worth the repairs!
When repairs cost more than cars worth, what are my options to sell this car?
It's great that you got to a decision where you understand that it's not worth repairing this vehicle.
The next step for you is to determine the best solution and sell an alternative to get rid of this vehicle as soon as possible while getting the most money possible.
This and our experts advised, there are several approaches where you could sell a car if it's not worth repairing:
The first thing one could think of to get rid of a used vehicle is to sell it to a private buyer. However, with nowadays technologies, selling and finding a private buyer offline can be challenging unless you know for sure one in your family or friends who would be interested in your vehicle.
It's very important to keep in mind that you are upfront with your private buyer and let him know about the significant repairs your vehicle requires.
If you got a vehicle that has a lot of high demand in your area, you might be lucky and find a dealership that would be interested in purchasing your car even if it has some problems.
Some dealerships are focused only on purchasing vehicles with problems to take advantage of any working parts and use them as a replacement. Keep in mind that finding such a dealership can be challenging and, most of the time, very rare.
If you were lucky enough and found the dealership, you will never get the offer you are looking for four. Dealerships are great at negotiation, and they can point to a lot of problems in your vehicle to convince you that it's not worth the money and pay you the least offer you would ever be thinking of.
Classified websites and online markets
The Internet is full of classified websites and marketplaces where you can post your vehicle and have many people interested in it.
However, most people looking for vehicles through classified websites and online marketplace are looking for perfectly working vehicles. They don't have the time and effort to deal with significant repairs.
If you decided to go this route, you need to learn how to create posts and reply to hundreds of phone calls and messages from different buyers who might be interested.
Based on the experts' opinions, classified websites are no longer the best location to sell a used car specially if it has significant damages. Going this route will take you at least a couple of months before finding a good buyer. In most scenarios, you'll either end up without selling your car or with dropping your vehicle's offer significantly.
Junk car buyers
The last and best option for you in this situation is a junk car removal company.
Junk car removal companies are usually interested in any vehicle, whether it's working or not. They don't mind dealing with vehicles when they repair costs more than the vehicle is worth.
Thus, your best option is to get in touch with a junk car removal service near you, considering your current situation.
Our recommendation to you is to look for a company that has a good online and offline presence. Look at the customer's reviews and understand the process carefully.
Check whether the company provides free tolling or has any hidden fees.
Also, read through the customer's reviews and ensure that it does not change the offers at the pickup time.
Why choose Cash Cars Buyer when repairs cost more than car is worth?
Well, glad you asked was!
Our company is one of the top-rated companies in the nation. We provide car removal service to any vehicles despite the location, and we provide free towing!
Our company is interested in your vehicle even if it if repairs cost for them cars worth. We see value in every vehicle, and we don't have any hidden fees because all our tolling services free of charge for all customers.
We are a 24-hour car removal service, which means that we can come to your house or office same date, evenings, and weekends if you are interested. You will always find a time that works for you!
The best part about our companies that we never change our offers at the pickup time. Whatever offer we provided you at the beginning of our process reflects the actual cash you will receive of the pickup time.
If you're interested to know more about our process, here's all that you need to do
Our process consists of only three steps but doesn't take a lot of time or effort and work for every busy resident and around the United States:
Describe your car
To get started, we will ask you to provide basic information about your part through our online system on my phone.
If you decided to go with the online system, you can visit our homepage and click on an instant offer. Or you can give us a call at (866) 924-4608.
Whatever method you decided to go with, we will always ask you about your vehicle type and condition.
Regarding your vehicle type, we will ask you what's your vehicles make, model, and year.
For the condition of the vehicle, the questions are going to be very basic, and it involves the following is:
- Does your vehicle have a title?
- Are there any missing components in your car?
- Is your vehicle's engine working properly?
- Are there any major problems with the transmission?
The more details you provide at this point, the more accurate you will be
Accept your instant offer
After you provide your vehicle's basic information immediately, we will use our advanced technology and evaluate your card to provide you with an instant offer.
The offer reflects your car's actual worth by comparing it to the most recent transactions around your area while considering the price of scrap metal.
While we accept vehicles without titles, their value will be reduced significantly. Therefore, we advise you to visit your local DMV office and obtain a title replacement to enhance your chances of getting a higher offer.
At this point, we leave you with an instant offer to take as much time as you need until you are convinced with it.
Once you are ready to proceed with their process, we schedule a pickup time and location that works best for you.
Have your car removed and get paid
For the last step, our local car removal specialists will meet with you at the right time and location to inspect your car and remove it safely.
During the inspection, we ensure that your vehicle matches the information we have in our system. That's why it's very important to provide us with accurate information at the beginning of this process to prevent any contentions at the pickup time.
After the inspection is done, you will receive your cash payment immediately, right on the spot!
Your instant offer is waiting for you! It's quick and free!