If you have a car that’s been written-off, once you get over the shock of the accident, a decision you may have to make is – what to do with your damaged, written-off car?
If your vehicle has recently been involved in an accident, you might decide that you need to sell off the car. However, going about the process can be a bit tricky. It raises some legal issues that you need to answer first. Here is a simple guide on how to sell your insurance write off the car.
What is a Write off Car?
This simply refers to a car that has sustained so much damage that it would be dangerous to have it back on the road. It could still be safe to drive, but the cost of repairs does not make economic sense. In some cases, the write-off may be due to normal rust. If the car rusts beyond a certain point, it might be considered too unsafe to drive on roads and is thus written off. A car that is a write off will have the vehicle identification number recorded, and the Department of Transport will not allow it to be registered.
When does insurance write off a car?
Car insurers have to work within strict guidelines. They are obligated to restore the car to its state before the accident. However, if the damage was extensive, it might end up costing about 60% of the original cost of the vehicle.
This is why a car does not have to be extensively damaged for the insurer to consider it a write off. It all depends on the cost of particular parts that the insurer has to acquire and total costs of repair. For instance, if a car gets a scrape on one side, the cost of repainting and repairing the car might be too high compared to its actual value. This is why there exist various categories of write-offs. It allows people to know which vehicles can still be sold or bought.
What to do when a car is written off
When a car is written off, you have the option to accept the decision. However, the payout might be quite small since insurance policies allow insurers to reduce the amount by making various deductions. If your car is written off because it is uneconomical to repair, you can apply to the authorities to have it repaired. Once it is fully repaired, it can be registered again.
Selling a written off car
What happens when a car is written off is that you might opt to repair the car and keep it or sell it fully. Once it is repaired, it will need to pass a write off vehicle inspection (WOVI). The inspection for getting WOVI is quite extensive. It usually takes up to a day to complete everything. In some cases, the inspector may take longer to be satisfied that it should be on the road. Besides that, it may take longer if they suspect it was stolen.
However, do not expect to get the market price for it once it is deemed roadworthy. Most cars with a WOVI certificate are perceived to be worthless, and they sell for basement prices. Since it has passed WOVI, you are not obligated to reveal that it went through WOVI testing. However, potential buyers can find the car’s history online anyway. Thus, it is common courtesy to disclose the status of the car. If the potential buyer finds out its history, they might not be willing to buy it anymore, or they may lower their initial offer.
Getting a WOVI will also depend on where you live. In some areas, getting it registered again is impossible. For instance, if you live in New South Wales, you will find re-registration is only allowed in about four instances.
Getting Cash for Write-Offs
Car recyclers don’t fix and resell your car. Instead, they dismantle it, recycle the metal, and reuse any parts of value. This means they:
Can still offer you good money for a car that’s been damaged, or even undrivable.
Make disposal easy because they collect your car from you, usually on the same day.
Buy any vehicle, whether it’s a recent model or something much older.
Sometimes, written-off cars car can be repaired (see our other article about what to do with a written-off car), and sometimes it’s economical to sell the parts yourself. But with everyone having less time and less space in their driveways, it’s become more common to get a quote for Cash for Cars.
You could opt to sell the car for cash, as it is if you decide you do not have money to cover the repairs. There are various companies in Australia, which will buy the repairable write off from you.
So, what do you need to sell your written-off car?
Actually, it’s incredibly simple – all you need is a photo ID. Your car is not being sold to be repaired and re-registered, so minimum paperwork is required. All you need to do is call and be present when we collect the car. We’ll do the rest, and you get paid cash.
A common question is how much is your car worth? Prices vary depending on the value, age, popularity of the car, as well as the damage, obviously. Cars can be worth up to $8999, but your best bet is to request a quote and most companies will respond very quickly.
So are all Cash for Cars the same? Well, not really….
Recycling cars is very important, so companies like MetalBiz are focused on recycling your car responsibly. There are many environmentally-harmful chemicals in cars, from transmission and brake fluids to oils and petrol. Because of this, MetalBiz invested in highly-specialised equipment from Germany to quickly and effectively extract these fluids. This is better for the environment, better for business, and saves runoff from entering local waterways.
Do you have a written-off car you’re trying to sell?
If you live in Greater Brisbane (we’ll even travel to the Gold Coast, Ipswich, and Caboolture) MetalBiz is your local Cash for Cars. So get in touch today to see how much cash you can get!