Car is totaled? Here are Some Options

If you find yourself in the unfortunate situation of owning a totaled car be it from an accident or as a result of car theft you are in a pickle on how to get the best from your situation.  If you walked away scot free from an accident consider yourself lucky and just write the car off. The only issue is if you are still stuck with some payments on it. If you find yourself in this situation here are some tips to help you.

Speak to your Lender

Before you head on to call the junk car towing company, speak to your lender first. They will understand that there is no longer a vehicle they can repossess for non-payment and therefore all they want now is your money. While it is true that most lenders will initiate collection efforts on you, they are most likely smart enough to know that you could file for bankruptcy instead which in that scenario they will not receive a single dime.  Given the situation the best approach would be in the form of a loan-refinancing plan.  Take note that they still want your money but want to ensure that you are still going to pay them by giving you options to do so.

Talk to aDebt Restructuring Consultant

Another option for you would be to speak with a debt management specialist.  Doing so will provide you with several options on how to clear your debt. For instance, they might speak to your lender to iron out a restructuring plan that would benefit all concerned. They will also look at ways to minimize your debt.

Speak with a Salvage Company

Totaled vehicles are no good to anyone except the junk heap. Junk car providers will pay you top dollar for your totaled car, the amount you can use to pay off some of your debt.  Owning a totaled vehicle is quite stressful but rest assured there are options available for you.

Would You Consider Purchasing a Flood-Damaged Car?

There are used car dealers out there that can restore flood-damaged vehicles so they look virtually new to the naked eye, however do not let the physical appearance fool you. Truth of the matter is, purchasing a flood-damaged car carries with it a significant amount of risk. However, a flooded past does not automatically make a used vehicle a bad purchase either. 

Factors to Consider

According to auto recycling Princeton Minnesota experts, you need to know how deep the car was submerged. If the submersion was not deep enough to damage the electronics then you may just be looking at some rust and corrosion issues.  However, if the car was submerged deep enough then prepare to have many electrical problems down the line. Another factor to consider is how long the car was underwater? The rule of thumb is the longer the vehicle remained submerged, the greater the amount of damage to it.

Type of Water

Learn also whether salt or fresh water which flooded the vehicle, If salt water is the culprit expect corrosion to be more aggressive than fresh water flooding.

Flood or Salvage Title

If the vehicle carries a salvage title, then at some point it was considered too expensive to repair. Unless you can really be sure of the amount of effort that went into its restoration chances are you are in for a lot of headaches.

Short Term Solution

For folks looking for a short-term solution to their vehicle needs then a flood-damaged car may be the practical choice. Recent college grads, snowbirds or retirees who live north and spend winters in better climates may prefer to have a vehicle they can leave at their southern home and a flood-damaged car may fit their needs and budget.

According to sell my junker Rosemount Minnesota experts, any vehicle that was subjected to water damage are sold well below its market value unless the seller can prove that an extensive restoration took place. The fact that you are purchasing a flood-damaged car means you are assuming the bulk of the risk in terms of potential repairs down the road. Do know your options and budget when considering such a purchase.

Practical Guide on Purchasing a Salvaged Vehicle

Salvaged vehicles are cars that were stolen but recovered, involved in accidents or damaged in natural disasters. Basically, insurers write them off as totaled or being too expensive to repair.  Buyers of salvage vehicles know the pitfalls of acquiring these “resurrected” cars If you are thinking of buying one for yourself here is a practical guide.

Purchase Information

According to auto recycling Oak Grove Minnesota experts, some of the important things to consider when checking out a salvage car based on importance include: insurance, warranty, financing, registration, claims and lastly resale value.

Insurance

This of course varies depending on where you are as well as the insurance company you are dealing with. You need to expect however to get at least liability insurance in most states and most insurance companies for your salvaged vehicle.

Warranty

You are lucky if the seller gives you 3 days in fact do not count in having one. There is absolutely no warranty offered for salvaged vehicles but some salvage dealers may offer it in some form if you negotiate correctly.

Financing

If it is a salvage car, car loan companies will not touch it. Expect to pay in cash.

Registration

This of course varies from state to state. In some places in the US, police may need to inspect a salvage-titled car prior to it getting registration and driven. Some states may require a repair shop certificate. Do check with your state’s DMV for more information on the matter.

Claims

According to auto salvage Victoria Minnesota experts, insurance companies are not willing to pay more than eighty percent of the car’s listed value. It is for this reason why a lot of salvage car owners select not to pay for insurance more than the minimum requirements of the state.

Resale Value

Even if you pay to replace almost all the parts, once it has a salvage title do not expect to resell it for a lot of money. It will be a labor of love on you part to do repairs and replace parts but it will never be as valuable as it originally was pre-salvage title.

When purchasing a car with a salvage title exercise due diligence to the letter.  Make sure that everything is in good working order as best as you can but do not expect too much as sellers often instruct mechanics to repair it to its minimum working order as required by the state.

Signs You Need to Replace Your Classic Car

For classic car enthusiasts or for those owning an old vehicle that your friends say is a piece of garbage but you reverently refer to as a “classic” there may come a point in time that the truth will look at you in the face: nothing lasts forever.  If you own a classic car in your garage that you are having trouble letting go, here are some obvious signs that you should.

Extensive Body Damage

If you are thinking of restoring dad’s old Mercedes, there are certain aspects where simply replacing parts and panels may lead you to a rabbit hole. Warped undercarriage, badly damaged frame may seem like a challenge to fix but when working with such a huge amount of metal, internal stresses of decades may destroy the body to the point that restoring it to show-quality may not be an achievable goal anymore.  According to auto salvage Victoria Minnesota experts, you need to set a goal for the restoration effort lest you end up with something that costs a lot but in reality is worthless.

Panels are rusted

More often than not, classic car restorers can easily overlook the large-piece panels that make up the roof as well as the sides and other coverings of the car’s interior.  The fact that you may be restoring the car with the goal that people will ogle at, it is easy to overlook these panels as long as they seem not warped or can be painted to look fresh.  Scrap car Rockford Minnesota specialists say that it is very difficult to find panels that have not rusted through and repairing these already damaged parts can be a high wire act as you need to employ an expert metalwork expert that has the skills to repair them to their original specifications. The fact that back doors, sides, roofs and hoods are mostly exposed to the elements for many years, finding one in an almost perfect condition is near impossible.

The Fuel Factor

Depending on how you intend to show or drive the restored car you are looking at extensive changes to the car’s fuel system, which means having to replace fuel lines as well as the car’s electrical system and can lead to a big hole in your pocket.

There is a fine line when it comes to restoring and maintaining a classic car. Knowing your budget and limits will go a long way on how you want to continue with this endeavor. Sometimes, there is really no other choice but to let it go.

For classic car enthusiasts or for those owning an old vehicle that your friends say is a piece of garbage but you reverently refer to as a “classic” there may come a point in time that the truth will look at you in the face: nothing lasts forever.  If you own a classic car in your garage that you are having trouble letting go, here are some obvious signs that you should.

Extensive Body Damage

If you are thinking of restoring dad’s old Mercedes, there are certain aspects where simply replacing parts and panels may lead you to a rabbit hole. Warped undercarriage, badly damaged frame may seem like a challenge to fix but when working with such a huge amount of metal, internal stresses of decades may destroy the body to the point that restoring it to show-quality may not be an achievable goal anymore.  According to auto salvage Victoria Minnesota experts, you need to set a goal for the restoration effort lest you end up with something that costs a lot but in reality is worthless.

Panels are rusted

More often than not, classic car restorers can easily overlook the large-piece panels that make up the roof as well as the sides and other coverings of the car’s interior.  The fact that you may be restoring the car with the goal that people will ogle at, it is easy to overlook these panels as long as they seem not warped or can be painted to look fresh.  Scrap car Rockford Minnesota specialists say that it is very difficult to find panels that have not rusted through and repairing these already damaged parts can be a high wire act as you need to employ an expert metalwork expert that has the skills to repair them to their original specifications. The fact that back doors, sides, roofs and hoods are mostly exposed to the elements for many years, finding one in an almost perfect condition is near impossible.

The Fuel Factor

Depending on how you intend to show or drive the restored car you are looking at extensive changes to the car’s fuel system, which means having to replace fuel lines as well as the car’s electrical system and can lead to a big hole in your pocket.

There is a fine line when it comes to restoring and maintaining a classic car. Knowing your budget and limits will go a long way on how you want to continue with this endeavor. Sometimes, there is really no other choice but to let it go.

What You Need to Know about Vehicles with Salvage Titles

Imagine scouring used car lots all over town and finally finding that one car you have always dreamed of having. A classic car that has a lot of history. Just by looking it is exactly what you want and the best part is it costs a fraction of what you thought a car of that quality costs.  When you look closer you see the small fine print that says the car has a salvage title.

According to buy junk car Dayton MN experts, cars with salvage titles denote that the vehicle has been damaged so severely or it was previously reported stolen but recovered or written off as more expensive to repair by the car insurance company.  In some places in the country, cars with salvage titles are not even allowed to be used on public roads.

Total Wreck is Subjective

If the dealer mentions that the car was labeled as totaled, the image that crops into one’s head is a mountain of metal, smoke and rubber. However, in actuality the accident that totaled the car could leave it uncannily undamaged. Why is this so? According to junk car towing Monticello Minnesota specialists, insurance companies will consider the vehicle as totaled if the cost to repair it after an accident has exceeded a certain percentage of its value.  Different states have varying standards for this valuation but the general rule of thumb is 75 percent of the total value of the car.  In this scenario, the insurer sees replacement as the more financially cheaper option as opposed to having it repaired.

Warning

Cars with salvage titles should serve, as a warning for would be buyers that the vehicle was to a certain point damaged. For instance, plastic body panels and sophisticated electronic devices in modern cars are sensitive that a small accident may lead to very expensive repairs. 

Stolen but Recovered

Based on statistics, a car in the US is stolen every 33 seconds.  Insurance companies act swiftly to assist their clients get back on the road, which leads to another reason why vehicles may have a salvage title: recovered after theft.  It is important to note that not all vehicles stolen and recovered end up getting a salvage title as police may simply return the car to the owner immediately.  However, if the car was lost for months, the insurer could just write it off as a total loss and if recovered, it is titled as being written off.

Leaving an Extra Set of Keys on your Vehicle

Some people are just too forgetful that they resort to leaving an extra set of car keys underneath the carpet should they forget or lose their keys while they are far away from home.  According to sell my junker Rosemount Minnesota specialists, if a thief discovers the key you have skillfully hidden underneath the dashboard, you probably would still be covered by insurance.

The Facts

Most personal vehicle insurance policies have no clauses that could deny coverage for theft as a result of leaving keys in the vehicle or if the doors were left unlocked.  However, if there is a pattern of repetitive or suspicious claims the insurance company may investigate deeper to determine the exact cause of the problem.  Based on current stats from police departments, people leaving their vehicle keys in the car and having that car stolen is actually a common occurrence.  According to junk my car New Brighton Minnesota specialists, 60% of recovered stolen cars had keys left in them.

When Opportunity is there

There are two kinds of car thieves out there. The first one are organized car theft groups that target high-end vehicles and then send them out of the country in container vans. They are more sophisticated as they can clone keys, hijack the signal from keyless entry devices and then just drive the car without breaking a sweat.  Then you have the opportunistic car thieves that are just looking for any vehicle that is quite easy to steal. Their motive is much more simpler as they just want a ride to go somewhere.

For vehicles that are more difficult to steal, thieves break into the vehicle looking for hidden keys or if the owner left the valet key which can start the vehicle but will not unlick the trunk or glove box. Thieves also have a penchant for breaking into gym lockers or stealing purses with the goal of carting away the car keys.

Whether it is covered by insurance or not, it is a bad idea to leave an extra set of keys in the car as it is not only careless you also provide an opportunity for people to commit crimes that could have been avoided had the opportunity not present itself.

More Tips on How to Get More Value for your Junk Car

One man’s junk is another one’s treasure and just because you are selling junk it does not mean that you should settle for junk prices.  There is a rule of thumb to follow when it comes to selling junk cars Here are some more tips on how to get more money for your junk car.

Salvage Prices Higher than Scrap Car Values

Junk my car Atlanta experts warn that the scrap metal for a car does not take into consideration the valuable components that are still on the car. Most cars have parts and components that can be sold off for extra money like the car battery, tires and electronic components. If your car still has a functioning GPS system on-board then you should be able to get a better price for it. Do not expect the full value for these valuable components but you could still negotiate up half their value if you are persistent.

Weight of the Car as Last Resort

If all your negotiation efforts fail to entice the junkyard the last resort is to use your vehicle’s curb weight as a rough value for its scrap metal. According to auto recycling Atlanta experts, most of the weight in your car is usually from steel, which makes it easy to determine its scrap value.  Offers of $150 per ton is usually the norm so the car’s entire value would be around $300. If you are being offered scrap car prices for a vehicle that still has salvageable parts, you have the right to negotiate for a better deal with them or find someone who will give you a better quote.

Do not accept an Offer with Conditions

Once you have a general idea of what your junk car is worth, set a value and hold your guns. Get as many quotes as possible prior to making a decision. Be wary of the Bait and Switch approach where junkyards give you a conditional price based on how you describe it and when they come and inspect, offer you a much lower value than what was agreed over the phone.

 

Getting the Best Value for Your Junk Car

It is a known fact that junk car values rise and fall depending on the price of metal in the world market. Many people take this for granted and just settle for whatever price the car gets upon the junkyard’s appraisal.  If you want to get the best value for your car here are some simple steps on how to do it.

Do not wait too long

According to auto recycling Atlanta experts, a lot of people tend to hesitate selling their junk car thinking they can get better prices. They think that by repairing or restoring the car could net them a good customer. Regardless of the reason, the fact of the matter is the longer you wait, the less it is going to be worth. This is because many parts of the car that is not running deteriorate fast and the fastest that deteriorates are the most valuable parts that the junkyard is interested in.  Junkyards as a rule will often only offer you the car’s scrap value by weight if the car is no longer operable. If you have a junk car in your garage, sell it at once so you can get the best scrap value possible.

Get More Value with a Drivable Vehicle

For any junkyard, cars that are still in running condition is worth more than one that is not. Cars that are running will not require towing and will save the junkyard a lot of trouble and savings.  Junkyards also tend to pay more if they know they can sell the vehicle at an auction.  According to sell my junker Atlanta experts not all cars sold to a junkyard are destined for the scrap heap and if you have a junk car that is still drivable, make sure you are not getting scrap metal quotes from the junkyard.

Refer to the Blue Book Value

A drivable car will not always get a high quote from junkyards and some may even provide low-ball offers. If you want to know the actual value of your car, the Blue Book will tell you as it will provide a good estimate or starting point for negotiation.

Important Things to Finish Prior to Junking Your Vehicle

Getting the right price for your junk car can be a time consuming process and sometimes a confusing one at that.  The good news is it does not have to be.  If it is your first time undergoing this process, better be armed with the necessary knowledge in order to make the entire transaction as smooth as possible.  Here is how.

Remove Personal Items

According to auto salvage Atlanta experts, personal items left by previous owners are so common that they are no longer surprised if a customer comes back looking for something they might have left behind in the car.  When you turnover your junk car to the junkyard the responsibility is yours and yours alone when it comes to clearing it of personal items. Check the glove compartment, under floor mats, the CD player, bins and boxes within the vehicle for any important item. Do not make the mistake of misplacing insurance cars thinking you might not need them anyway.

Make Sure the Title is in Order

According to scrap car Atlanta specialists, the most important thing that you need in order to transfer ownership of the vehicle is the car’s title. Selling your car without a title is still a possibility but more challenging if that is the situation you have.  Be careful of junkyards that do not require you to have the vehicle title ready. Remember, you will still be the one held liable should the car incur any liabilities as technically it is still your car.

Sell off Valuable Components

If the agreement you made with the junkyard include all of the components inside as when you described it over the phone then by all means turn it over as is.  However, if the price is merely the scrap value, you could remove some valuable components and sell it off for some extra cash. For instance, the car battery has a lot of resale value especially if it is still relatively new and in good condition. The car’s GPS system, stereo and other electronic components will also net you a pretty penny.

More Scrap Car Scams You Need to Be Aware of

First time junk car sellers often get victimized by junkyard dealers that take advantage of their lack of knowledge about the entire process of junking a car.  Here are some scrap car scams you need to be aware of if you are considering selling your car to a junkyard.

Lessening Towing Cost From Your Deal

Most junk cars being sold to the junkyard are not in running condition and therefore will require some towing. Buy junk car towing experts recommend that you do not pay towing charges directly to the tow driver unless you have already received the exact amount you were promised over the phone.  Reputable junkyards will never subtract the cost of towing for you car as they provide this as a free service. Make sure you clear the towing

Giving No Value to Your Car

According to junk car towing experts, you need to get at least three quotes on the value of your junk car. The most common sham shady dealers employ is to tell you outright that your car is utterly worthless and that you should just give it away for the towing cost. Even if your car has been abandoned for years, it still has some scrap metal value.

Worthless Prizes

Another common sham technique employed by dealers of ill repute in order to hide the total amount of money in the deal is by adding worthless free prizes or vague estimates of the car’s value. A lot of junkyards offer non-cash enticements, which include coupons for cruises and other vacations.  You will soon realize that the cost of the cruises and vacations is much higher than what the coupons offer.  There are also coupons that have so many restrictions on the travel dates that chances are you wont get a chance to use them. It is always smart to tell the junkyard dealer to provide you with a real figure for your car and a printed check with the full amount and nothing more.