Pros and Cons of Selling Your Damaged Car for Cash
Selling your used car privately is the best way to get the most money from your sale. You do not lose profit as you would selling to a garage or dealer. The drawback is that it takes a lot of time and effort.
Many things can go wrong in this situation. From time-wasting customers to misfiled paperwork, you may just decide to sell your damaged car for cash and cut out the hassle. We go through the pros and cons of selling your damaged car for cash below.
Condition of the Vehicle
The condition of the vehicle will have a significant impact on the amount that you can get for your car. If it is dented, scratched, and missing mirrors or fenders, then you are not likely to claim much for it. Cash for flood-damaged cars is also hard to come by, as it takes a lot of assessment to value long term damage done in this way.
Internally, the condition also matters. The number of kilometers the engine has done will impact the value of the sale. It is likely that if you do not want to drive it any longer, others will probably not want to purchase it.
Take into account the time constraints when you wish to sell a damaged car for cash privately. Though you will get more money, you have several factors that will take up time. The first is advertising the vehicle in local listings and online.
Then you will have to arrange times for people to come and view the car and test-drive it. That does not mean they will buy, and you may have to do this several times before someone is interested in purchasing it.
Maintaining the Vehicle
Even though the car is on the borderline of being scrapped, if you decide to sell privately, you need to spend some time fixing up the car. Making it look better will get you the maximum profit from the sale.
It could involve fixing engine parts, cleaning the interior and exterior, or buying then affixing any missing parts. If this sounds like a big task, you may just decide to think “junk my car” and claim money for the vehicle as it is.
In an ideal world, the sale of your car would go smoothly. Despite explaining all its faults, good points, and reaching an agreement, some people will just not be happy. It is a reality that you will come into contact with a disgruntled buyer.
In addition to this, expect to formalize and arrange paperwork after the sale. That could mean repeat visits and conversations with the buyer. If you do not have the time or energy for this, it may be better to sell a damaged car for cash using a company.
Damaged Car for Cash Scams
There are a lot of scams that target people selling used cars. These can include cheques that do not cash, paperwork that never gets submitted, and more. They can even involve scams in which people ask you to call them back that go through to a premium line number.
You need to be aware of this when you seek cash for damaged cars. Always go through a reputable company, and if it is too good to be true, it probably is.
Now you know the pros and cons, it is time to let go of your car. Those with time can go the more profitable route, but for busy people, it pays to do it quickly and effectively when selling a damaged car for cash.
If you are looking for more help and advice on automotive, visit our blog. We have lots of articles that may help you fix up that damaged car or turn a profit. See how we can help today!