After having your car damaged as a result of an accident, you may be stuck in the crossroads between selling your car to Newcastle Top Cash Car Removal and repairing your car. This choice will be especially difficult if you have a sentimental attachment to the car. To make your choice easier, this guide will help you determine whether its time to let go.
To Sell Or To Repair?
Car accidents don’t just cause physical injury, they can be emotionally challenging too. Many victims have reported having PTSD months after an accident even when they did not get physically injured. Well, the truth is that no matter how tight the spot may seem now, keep in mind that you’ll always have options. Knowing your options will save you time and money.
Factors That Will Influence Your Decision
- Your Insurance Policy
One of the key factors that will influence your decision is the insurance policy covering your car. Before your car can leave the garage after an accident, you will have to present the insurance papers. The type of insurance policy you have will help you determine whether you should sell the car or repair it. Is it a comprehensive coverage, gap or collision coverage? What is your deductible? Does your policy cover OEM, that is, Original Equipment Manufacturer parts or just replacement parts? Will the company pay for a rented car when your car is being repaired? These factors and more will go a long way to help you make the right decision.
- The Math After The Crash
Consider this hypothetical situation. After the traumatic accident, your insurance company sends a representative (an adjuster) to evaluate the damage done to your car. After everything, the repair shop passes you a $10,000 bill. Note that this $10,000 is minus the payment for space in the garage. Even if you have a deductible of $1,000 and the insurance company is going to cover the rest, ask yourself if the cost is worth it.
Apart from all the other factors listed above, keep in mind that a repair would reduce the used value of your car by up to 30%. What this means is that if your car’s used value was about $30,000 before the accident, it would drop to $21,000 after the repairs. This is after you’ve already spent $10,000 in insurance money repairing it. So if you do decide to sell the car after repairing it, you’ll be short by $10,000. On, the other hand, if you take the damaged car to Newcastle Top Cash Car Removal, you can get cash up to $5000 for it. Your insurance company will still pay you for the damages and you can buy a new car.
Repairing your car after an accident is something you should consider when the car isn’t badly damaged. If the car is badly damaged and the cost for repairing (cost for renting a car while you wait for repair, and cost for keeping your car in the bodyshop during the repairs included) the car is not worth it in the long run, take it to Newcastle Top Cash Car Removaland get instant cash for your badly damaged car.
For more information about cash for car, visit https://www.carremovaltopcash.com.au.