What Is A Car Worth When It Is Old Or Damaged

Robin Khan By Robin Khan, 21st Jun 2015 | Follow this author | RSS Feed | Short URL http://nut.bz/2t5il_fh/
Posted in Wikinut>Guides>Transport>Cars

Now that you know how companies determine what is a car worth, you can decide the best way to sell your car. If your car has undergone damage, your best bet is to use a junk yard removal company for a quick and easy experience.

Everything You Need To Know

Everyone is looking for a good deal on a car these days which is why the used car market is in such high demand. No one wants to pay full price anymore and many people are willing to buy a used car that is in good condition. Little dings and scratches aren’t as big of a concern but no one wants a car that has undergone serious damage. Obviously, a damaged car is worth less than a car of the same age that isn’t damaged but how much less? Can you even still sell it?

In the eyes of third party buyers and car dealerships in the USA, a severely damaged car is not worth anything. However, in the eyes of junk car removal companies, they certainly have a price. Here is how they determine what is a car worth when it is old or damaged:

1. Make, Model and Year

The first pieces of information that junk car removal companies want to know about a car is its make, model and year. Naturally, certain makes and models are worth more than others. For example, a 2002 Lexus is worth more than a 2002 Honda of the same condition. Likewise, later models are generally worth more than earlier models. This general information alone will give the customer service agent an idea of how much the car is worth, before considering any other factors.

2. Mileage and Age

Generally speaking, a 2010 will be worth more than a 2004 just as a car with 75,000 miles is worth more than one with 120,000. Age and wear are huge factors in determining a cars value and the estimate of how much longer its motor will run.

3. Damage and Wear

What will be the deciding factor on your car’s worth is the amount and type of damage that it has. If it is old and run down, then its motor parts have probably seen better days. As a matter of fact, if your car is dead, then it probably won’t have any value left to its motor parts. In this case, the value of your car will be based on factors such as tires, doors and interior seats.

If your car is damaged, then the company will look to see if it is mostly cosmetic or if it is framework damage. Cosmetic damage only will yield you the highest offer since your motor and other parts should be in good working condition. However, a car with framework damage will get a lower offer because there may be much less salvageable parts.

4. How Much They Can Make

The reason these companies can even afford to buy your car is simple: because they will make that money back and then some. Once they have your car, they will essentially strip it apart and remove everything that is salvageable. They will then resell it for a profit higher than the amount they bought it from you. The better condition your car is in, the more money they stand to make off of it and the higher the cash offer they can give you. Likewise, the poorer condition your car is in, the less they can make and the less they can offer you. It’s that simple.

5. Things to Consider:

Before you sell your car, consider these things:

• Doesn’t Matter if Your Car Can’t Run

Your car doesn’t have to be drivable or even turn on in order for a junk yard removal company to buy it from you. So many people think that they are stuck with their run down car or that they must arrange and pay for a tow truck to bring it to the scrap yard for them. However, companies such as 1888PayCashForCars will tow your car for free and even give you money for it – with absolutely no cost to you.

• Even if it is repaired, it Is Still Worth Less

That’s right; even if your car was repaired, it still will depreciate in value. All accidents reported are tracked in the vehicle’s car history. When you attempt to trade in your car to a dealership, they will check your car history to determine what it is worth based on its history. If they see an accident in its history, they will offer a lower trade in value.

The reason they do this is because when they try to resell it as a used vehicle, the potential buyers will see the accident listed on the car history information. Simply put, people expect to pay less for a car that has been damaged. It makes little difference if the accident only caused cosmetic damage because in a buyer’s eyes, you never really know what kind of damage an accident could have caused that just hasn’t been noticed yet. Buying a damaged car is a liability and the price will reflect that.

In this case, it may be more beneficial to skip the middleman and just sell your car to a junk car removal company. Since they take cars in all conditions, your repaired car will be evaluated just like a damaged car would and a fair offer will be made. Of course, since your car is in repaired shape, you will receive a higher offer than a damaged car would. While it may not be much better than a dealer trade in offer, it will be the easier, quicker and overall best way.

• You Can Sell Today and Get Paid Tomorrow

In most cases, you can arrange for your car to be picked up within 24 hours of scheduling your appointment. When the tow truck driver arrives, he will hook your car up to his truck and take it away. But first, he will hand you over the agreed payment. Selling your car on your own has never been this simple or quick!

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Car Value, What Is A Car Worth

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author avatar Robin Khan
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