What Can You Do With A Totaled Car?

There are more than 10 million car accidents that take place each year. It’s unfortunate enough to be involved in one, but it’s worse having to deal with a totaled car. However, if you have been involved in an accident and got a totaled car on your hands. Here’s what you need to know.

What is a Totaled Car?

A totaled car may refer to a wrecked car when the repairing expense of the car is worth 50 %( according to some states) or more of its original worth. It depends on the state in which you currently live. Considering that you and another driver were at fault and your car ended up being wrecked, the damages may be covered by your insurance.

You can claim your insurance company, and they will analyze the situation. The adjuster will be responsible for estimating how much money the company should pay. The adjuster will determine the condition of the car as totaled or a total loss.

The car may be too expensive to repair or might be impossible to repair. For instance, if the repairs needed on a car are estimated to be more than 80%, it might be considered to be a total loss.

Ways to handle a totaled car situation:

Now that you completely understand what a totaled car is, you need to know what you can do with your totaled car. Here are some ways to handle a totaled car situation.

• Claim insurance money:

Depending upon the insurance laws in your state, the insurance company might provide you with two options. The first might be to replace your totaled car with a comparable new one.

The second option may offer you equivalent cash payment to your totaled car’s actual value. Hence, if you feel that your insurance is offering too low, you can sue.

• Use it for parts:

One option for you is to keep the car for parts. You can either use it for installing the car’s components to your car, but you need to consider how many working parts still exist.

You can also sell the components of your car to a parts buyer or a scrap dealer where you can get decent cash for it. Using dismantling parts may require specific skills and tools and might prove to be tiresome.

• Scrap it:

Scrapyards can be referred to as cash for junk cars network in NJ, where you can trade your junk car. Scrapping your car is the fastest and easiest way to earn cash on a totaled car. You can sell your car or all the components separately.

Scrapyards save you from the trouble of negotiating and selling your car parts in the market. Some scrap dealers will provide you with the service of free-towing for your convenience so that you don’t have to worry about dragging your totaled car from one place to another.

Junkyards are a convenient way to take care of your wrecked car, and you also play your part in keeping the environment safe and clean as scrapyards recycle the products to resell them in the market.

• Trade-in:

A trade-in is a good idea if you want to buy a new car. You can trade your totaled car and reduce the payment on the new one. You might not get a reasonable price because the dealer will try to give you as low a price as possible. Besides, the dealer will probably sell your car to the scrapyard. Therefore you can cut the middle man and do that yourself to get a better amount.

Conclusion:

Getting involved in an accident is one of the worst things that can happen to you, and getting a totaled car in return makes it even worse. A totaled car may appear to be worthless, but that’s not the case.

You can decide from the options mentioned above what you should do with your totaled car. One of the easiest and time-saving ways is to scrap your totaled car. As you not only get a good cash amount for it but you also don’t need to spend any effort, money or time.

Nevertheless, if you have ever asked the question, where can I junk my car for cash in NJ? Acres Cash For Cars is the only correct answer.