Often, there are so many things that have to be considered after a car accident; from dealing with the insurance company, to hiring a lawyer (which is often a wise idea if the crash resulted in serious injuries). You may even have to say good-bye to your beloved vehicle if it’s severely damaged.
Fortunately, those who have a wrecked car are likely to find that they have quite a few different options available to them. Here are 6 things that you could do with your totaled vehicle.
Option 1: Keep and repair the vehicle
If your car isn’t too badly damaged and you’re able to drive safely to an auto repair shop, or if you could get it towed to an expert who could fix it, you might want to consider getting it repaired rather than filing a claim. In an instance where a claim isn’t likely to bring you much cash (for example, if you drive an older vehicle), this might be the ideal option.
Option 2: Keep it, but don’t repair it
Alternatively, if the damage is only minor, you can probably skip the repairs. If you only have a scratch or a few dents on the hood or roof, you may not need to spend excessive amounts on reconstruction. If the damages are purely cosmetic and don’t affect safety or functionality, this should be fine.
Option 3: Take the money
Of course, instead of getting repairs for your damaged car, you could just take the money that your insurance company will offer. In most cases, if they deem that it is totaled (not worth fixing), they’ll decide how much they think the wreck was worth before the accident and offer you that amount.
Option 4: Donate the car
If you want, you could even opt to have the salvaged parts sold and the money donated to charity. Often, you’ll need to get in touch with your local donation services and arrange a time for your vehicle to be towed (often for free). In most cases, you’ll get a tax deduction – and you may even have the opportunity to choose which charity the money is donated to as well.
Option 5: Sell it to a junkyard
In most cases, a junkyard will be more than willing to buy your wreck. In general, it’s important to make sure that the buyer is licensed, the value of your car, and that you’ll get your car towed for free.
Option 6: Keep it and sell the parts yourself
Instead of selling the broken car to a junkyard, you could instead salvage the parts and sell them yourself (if you believe you’ll make more cash from it that way). Alternatively, if you like working on cars, you could even salvage parts to use on another vehicle.
Fortunately, even if your car is damaged beyond repair, you’ll still have options to make the most of your wrecked vehicle and earn a little more cash – which you could put towards a new car.