If you are looking for how to trade-in a damaged car near me, you need to evaluate whether it's worth fixing this car, understand the after-damage-value, get at least three appraisals, negotiate the appraisals and finalize the deal.
Body damage can happen any minute; your teen might be driving the vehicle and focuses on his phone and ended up in a car accident, or probably someone hits your vehicle while parking in a tight parking lot downtown.
Whatever the reason is, there will be a point when you might face significant damage to your vehicle. That does not necessarily mean that you should keep driving a damaged car. Did you know that when a vehicle gets involved in a collision, it loses somewhere between 10 to 15% of its current value?
This huge reduction in the vehicle's value makes it very concerning to many drivers who got into similar situations. The question always remained is it possible to trade-in a damaged car?
The good news is that yes, there is always a way to trade-in your car, even if it's completely damaged. Trading in a damaged car is much easier than selling it to a private buyer because most private buyers are looking for approval vehicles that they can drive immediately after purchase.
Of course, the process will not be simple, and there are certain steps you need to follow to get the most money out of your damaged car when trading it in.
How to trade-in a damaged car near me?
Body damage is one of the worst things that could happen to your vehicle, which could discourage any potential buyer, whether it's a dealership, private buyer, or even car removal companies.
Even if you got your insurance company to pay for damages, the problem with getting involved in a car accident and dealing with major damage is that it stays in your vehicle's history report, which means that everyone in the future will know about this damage. It will affect the offer that you will get.
Let's look at a step by step process you need to follow to trade-in a damaged car near you:
Should I repair my car before trading it in?
The first step to go by trading in a damaged car is to understand and be upfront with yourself about the severity of the damage.
To do so, you need to see whether it's worth fixing this car or not. Sometimes slight repairs can help you get more options other than ending up trading in your vehicle with a low offer.
Thus, you need to evaluate and look at the repair costs. Our repair costs getting close to 75% or more from your vehicle's value. If yes, it is not worth spending a penny on this vehicle, and you should move on with either selling as is or trading in it.
For example, if you have a 2012 Ford Focus and is currently worth $6000, look at the required repair costs. If you notice that repair costs are getting close to say $5000, it does not make any sense to spend this money on repairs. This is because it might not add any value to your car. Think about it this way, if you performed these repairs, will your car's value go up to $11,000? If not, then don't do it.
On the other hand, if you found that it might be worth fixing this car, you can open additional options for you, like selling your car to a private buyer. Private buyers are more likely to be much more than trade-ins for any repaired vehicle.
How much is my car worth after damage?
The next step for you is to understand your vehicle's current value. You need to understand how much your car was worth before the accident and after the accident.
To do so, you can use any of the available tools online. For example, you can go to Kelley Blue Book instant cash offer and input your vehicle's basic information like the type and mileage. The tool will give you minimum and maximum values representing how much your vehicle is worth.
Your next step is to subtract any potential damages or repairs from the KBB value. This is because the KBB value does not consider major damages or maintenance costs.
Another good option for you is to use Cash Cars Buyer online tool. This tool also allows you to input basic information about your vehicle type. The unique thing about this tool is that you can also explain your vehicle's current situation, which does the math for you and provide you with the final value for your vehicle after the accident.
Finally, you can always bring your vehicle to a professional mechanic who can provide you with an accurate estimate of your car's exact worth. The mechanic will look at your vehicle type and condition while evaluating the costs necessary for repairs to give you a final number representing your car's actual exact worth.
Choose the right time to trade-in a damaged car
Whether your car is damaged or in great condition, it is recommended that you follow the recommendations related to when it's the right time to trade-in a car.
Like any other item sales, many people like to trade-in their vehicles towards the end of the year. However, dealerships will demand new vehicles sometime early in the year because more customers would like to buy cars.
Keep in mind that even if the dealership might provide you a higher offer at the end of the year, think about how this will affect your vehicle. For example, if you have a 2012 Ford Focus, how does the dealership react to selling its early in 2015 versus late 2015? In early 2015, leadership will still have the impression that your vehicle is only two years old. On the other hand, closer to 2016, the dealership will give the impression that your vehicle is close to three years old.
Look for places that trade-in damaged cars
Once you have a good idea about your vehicle worth after damage, the next step is to look for places that trade-in damaged cars.
Not every dealership is wanting to buy or trade-in your car. Some of them might be interested, depending on your vehicle's type and the severity of the damage.
For example, if you were trying to trade-in a damaged car that belongs to one of the highly demanded vehicles around your area, dealerships would want to pay you as much as they can to trade-in this car.
One thing to keep in mind is that it is never recommended to trade-in a car to a dealership with the same brand. This is because you would like to get the most out of your car without having any other competing vehicles on their lot.
Since you are trying to trade-in a damaged car, it will not be easy to convince a dealership and have a good offer. Thus, you need to be patient and look for at least three appraisals from different dealerships, even those who don't carry the vehicle you're interested in buying soon.
By having three appraisals, you can have a good idea about what is possible to get out of this car. You can also use these appraisals to convince your dealership of choice to provide you a higher offer if they carry the vehicle that you are interested in buying, but the not providing you with the top offer. You can tell them that ex dealership is willing to pay me much more for my car. This tactic might work for some dealerships, but it's not guaranteed.
Be clear with the dealership
Your dealership can easily pull history report and understand everything happens with the vehicle. Thus, it is recommended to be upfront with them and describe what happened is that exactly with the vehicle to give them an idea about where the damages are located.
There is nothing you should hide, and the clearer you are with them, the better and more confident it will be built between the two of you. You can also bring your history report to the dealership to save them time and show them that you are worth trust.
Finalize the deal and keep all paperwork
The nice thing about trading in a vehicle to a dealership is that they know exactly what paperwork is necessary to complete this process. They know exactly what your states' requirements are, so you don't have to worry about all that hassle.
While that is the case, it is your job to understand that you fulfilled your state's requirements paperwork. And, make sure to keep copies of all trade-in paperwork because when it comes to trading and a damaged car, things might get complicated slightly; thus, keep old people work in a safe place.
Keep trading and buying new vehicle negotiations separate
The last thing you would want to do is to have the same conversation negotiating your trading vehicle's price and your potential brand-new vehicle.
It is recommended that you have these conversations separate and sometimes on totally separate days.
Do you don't want the dealership to take advantage of you and whatever they offered you in the trade-in value to put it towards your brand-new vehicle and ask for a higher offer?
Cancel vehicles registration and insurance policy
Once everything is all set, it is not time to make sure that you cancel your vehicle registration by visiting your local DMV office.
You don't need to stay liable for anything that happens to this car, especially when we're talking about damaged vehicles.
Lastly, don't forget to cancel the insurance policy because who wants to keep paying for a vehicle he doesn't own?
Your insurance company will appreciate it when you let them know that you sold this damaged car. They might even provide you with future discounts for your brand-new car.
Does cleaning your car increases trade-in value?
It could if you're dealing with a used vehicle without significant damages. However, if we're talking about trading in a damaged car, cleaning it up will not make a difference. Thus, waste your time and effort and probably money trying to make this car look very clean.
It is just recommended that you make sure to remove all personal items, especially any important paperwork.
Can you trade-in a car if it's damaged? The bottom line
As we mentioned earlier, it is possible to trade-in a damaged car. However, the process will be challenging, and it will take some time and effort.
When dealing with damaged vehicles, it is recommended that you will have a good understanding of your vehicle after damage value. Also, you need to consider shopping for multiple appraisals to get the best offer. Lastly, make sure to have two separate negotiation conversations for your trading vehicle and the brand-new vehicle.
If you think that the dealership is not providing you with the top offer you are looking for, we can always recommend you reach out to Cash Cars Buyer, who is guaranteed to buy your car and pay you the top dollars.
The great thing about Cash Cars Buyer is that we accept every vehicle, even those completely damaged in a collision. Not only the top dollars, but also, we will provide you with free towing no matter where you're living around the United States.
Our process is very straightforward, and all it takes is a quick conversation with our team describing your car. Once we get the basic information about your vehicle, we provide you with an instant offer representing the top dollars your vehicle can make around your area.
It's then your turn to accept the offer and move on to schedule pickup time and location. Our local car removal specialists will meet with you at the pickup time and remove the car safely after handing you the cash payment immediately on the spot.
If you would like additional information, you can give us a call at 866-924-4608 or visit our home page click on the free instant online offer.