fix it or junk it?
03-19-2009, 07:35 PM
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fix it or junk it?
My car was involved in an accident. The repair estimate is about $9500. Kelly's Blue Book value (for what it's worth) ranges from $11K trade in to $14K private sale.
I am getting $9500 from my insurance, and I can do one of two things.
(1) take the money and fix the car or
(2) pocket the money and do as I would like with the car.
I'm inclined to go with option (2) because I'm thinking I can take the money and try to sell the damaged car and get whatever I can get for it and buy another car that will be more maintenance friendly. But I don't really know what I can get for a damaged car like this.
So I'm thinking it might also me worth it to just fix it since I'm almost done with the payment and the car has relatively low milage on it. But I'm afraid of the future maintenance cost.
So my questions are
(1) What would you guys do, considering the extent of the accident?
(2) If I wanted to junk the car, what is the best way to try to get the most money for it? Anyone want to buy it?
(3) If anyone has any experience buying/selling a damaged car like this, what would you estimate the value to be?
I am getting $9500 from my insurance, and I can do one of two things.
(1) take the money and fix the car or
(2) pocket the money and do as I would like with the car.
I'm inclined to go with option (2) because I'm thinking I can take the money and try to sell the damaged car and get whatever I can get for it and buy another car that will be more maintenance friendly. But I don't really know what I can get for a damaged car like this.
So I'm thinking it might also me worth it to just fix it since I'm almost done with the payment and the car has relatively low milage on it. But I'm afraid of the future maintenance cost.
So my questions are
(1) What would you guys do, considering the extent of the accident?
(2) If I wanted to junk the car, what is the best way to try to get the most money for it? Anyone want to buy it?
(3) If anyone has any experience buying/selling a damaged car like this, what would you estimate the value to be?
Last edited by LightningMcQueen; 03-19-2009 at 07:45 PM.
03-19-2009, 07:37 PM
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Sadly...
My car was involved in an accident. The repair estimate is about $9500. Kelly's Blue Book value (for what it's worth) ranges from $11K trade in to $14K private sale.
I am getting $9500 from my insurance, and I can do one of two things.
(1) take the money and fix the car or
(2) pocket the money and do as I would like with the car.
I'm inclined to go with option (2) because I'm thinking I can take the money and try to sell the damaged car and get whatever I can get for it buy another car that will be more maintenance friendly. But I don't really know what I can get for a damaged car like this.
So I'm thinking it might also me worth it to just fix it since I'm almost done with the payment and the car has relatively low milage on it. But I'm afraid of the future maintenance cost.
So my questions are
(1) What would you guys do, considering the extent of the accident?
(2) If I wanted to junk the car, what is the best way to try to get the most money for it? Anyone want to buy it?
(3) If anyone has any experience buying/selling a damaged car like this, what would you estimate the value to be?
I am getting $9500 from my insurance, and I can do one of two things.
(1) take the money and fix the car or
(2) pocket the money and do as I would like with the car.
I'm inclined to go with option (2) because I'm thinking I can take the money and try to sell the damaged car and get whatever I can get for it buy another car that will be more maintenance friendly. But I don't really know what I can get for a damaged car like this.
So I'm thinking it might also me worth it to just fix it since I'm almost done with the payment and the car has relatively low milage on it. But I'm afraid of the future maintenance cost.
So my questions are
(1) What would you guys do, considering the extent of the accident?
(2) If I wanted to junk the car, what is the best way to try to get the most money for it? Anyone want to buy it?
(3) If anyone has any experience buying/selling a damaged car like this, what would you estimate the value to be?
03-20-2009, 07:20 AM
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If the car is at a shop, ask them if they recommend anyone buying up wrecked cars. I had something similar happen to my Mustang in 2004 where the front end was knocked off, and insurance wanted to repair it.
The repair guy gave me some people to call who'd buy it as-is.
Insurance gave me cash from the estimate, which I used to pay off the car. The cash from the car sale went to my new car down payment.
The repair guy gave me some people to call who'd buy it as-is.
Insurance gave me cash from the estimate, which I used to pay off the car. The cash from the car sale went to my new car down payment.
