If your car was just involved in a serious collision or accident, you may be asking yourself, “what now?” Well, your first step is to contact your automotive insurance carrier to review the details of your particular policy. From there, an adjuster will determine whether or not your vehicle is a “total loss”, which is a fancy surety term for a junk car. If you do not have car insurance, you can still get rid of your car, and even make some money at the same time.
Continue reading to learn how an insurance company defines a junk car, and what your options are for selling on, whether insured or not, here in Louisville.
Total Loss Vehicles
It’s actually pretty simple. Total loss vehicles are simply cars that are too far damaged to be worth repairing. The more technical definition is, “a vehicle that costs more to repair than the actual cash worth before the damage.” So, to explain in plain language, if your vehicle is worth $4,000 before the accident, but then costs $5,500 to repair it back to the condition it was in before the accident, it would be deemed “totaled.” There are some cases in which this does not apply, such as brand new Luxury vehicles with values much higher than average or older cars.
Here is Another Example:
If your car is worth $7,000 but the cost to repair it back to the condition it was in before the damage exceeds that amount, your vehicle would be deemed a total loss because it would not be worth repairing it for that amount of money. Instead, it would make more sense to simply cash in the insurance money under your policy terms, and purchase a new vehicle.
If you do not have auto insurance, your totaled car can still reap you a nice profit. All you have to do is find a reputable and experienced Louisville junk car buyer that offers cash payments and free haul away. Just be careful choosing a buyer to work with; in the junk car industry, there are thousands of unethical, unprofessional, fly-by-the-night businesses that will rip you off. Always choose a company that has professional grade equipment, technologies, and experience. This shows that they are a trusted junk car buyer that does good business.
Where to Get Started
Call GC’s Junk Cars at 502-804-5605 if you have a junk car to sell in Louisville and its surrounding areas. Not only do we accept all vehicles, regardless of age, make, model, and condition, we also payout the highest returns for junk vehicles in Kentucky. Just accept our offer and we will come pick up your junk car! No title? No problem! Contact us today to request a free estimate.