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Keep in mind that many dealerships do not specialize in trading and selling damaged cars. This may help you get a replacement car more quickly. Some dealerships may accept a damaged car as a trade-in towards a new vehicle. Additionally, if the car doesn’t run, you and the buyer will need to negotiate who will cover the cost of towing the vehicle. Keep in mind that you will need to schedule a time for potential buyers to come see the car. Private individuals may also be interested in your damaged car. Additionally, you might need to call multiple different yards to compare quotes. However, depending on the car’s make, model and year, this may not be the best offer you can get on your car. Junkyards and scrap yards typically offer you the scrap metal value of your vehicle. Wondering what to do if car repairs exceed its value? If you're trying to decide whether to repair or replace your car and decide on replacing it, you can sell a car not worth repairing in any of the following places: Where To Sell A Car If It's Not Worth Repairing Instead of trying to figure out what repairing your vehicle could cost, you might need to decide what to do with a car that’s not worth repairing. If you’re starting to question the value of paying for repairs, it’s time to switch strategies. Damage to the car only accelerates that process. Cars are a depreciating asset, which means the longer you keep it, the lower its value is. In short, if there’s no return on your investment, it’s not worth repairing the car anymore. Is your car worth the wait? When Is It Not Worth Repairing A Car? If it will take weeks to repair your vehicle, you will have to figure out your transportation for that entire time period. Will the $2,000 in repairs bring your vehicle’s total value to $8,000, or will it still be somewhere in the $6,000-$7,000 range?Īsk yourself another question: How much could you get if you sold the vehicle in its current condition? Combine how much the car could go for with the estimated cost of repairs.Ĭould you buy a decent vehicle for that money? In that case, it might make more sense to sell, take your savings and earnings, and put them towards a new vehicle.įinally, consider the headache associated with having a non-running car. Assume your vehicle is worth about $6,000, and you received a repair estimate of $2,000. Here’s a scenario that can help you figure that out.
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How badly do you need a working car right now?Įach car situation is unique.How much could I sell the car for as-is?.Will the repairs increase the value of my car?.Wondering if it is worth it to fix your car? When trying to calculate if a car repair’s more than the value of the car, ask yourself the following questions:
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Once you know what your repair bill might be and what cars in your vehicle’s condition sell for, it becomes a lot easier to do the math. Take a look at local markets in your area - Craigslist, for example, or Facebook Marketplace - and see how vehicles with equivalent damage are valued.
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When you get an estimate from a mechanic to do work on your vehicle, you should take some time to figure out how much your car is actually worth. Get an offer in less than 90 seconds Is Your Car Too Expensive To Repair?
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