If you are selling a damaged car, you are certainly in for a huge challenge. But you should also know that there are ways to maximise its value and get the highest price possible. The secret here is to be strategic about marketing your car, as you can highlight its remaining strengths.
Damage assessment and its market value
Hold your horses before listing your car, because you need a mechanic or appraiser to conduct damage assessment. This will be your guide in understanding the extent of the issues and what repairs would cost. Likewise, it provides a clearer picture of how much the car is worth in its present condition.
Include in your assessment the market value of your car by visiting top resources online to get an estimate of what your car would be worth if this was in good condition. This will guide you in gauging the fair price range for your damaged car.
You may also consider the remaining usable parts, because its value lies in its parts. So, if your car has a working engine or transmission parts, then you can use these to significantly boost its resale value even if the car is not drivable.
Make small repairs to potentially add value
You can also repair minor issues at a low cost, which include replacement of broken lights or fixing small dents before you sell your used car. Note that even small improvements can make your car more appealing and help justify a higher asking price.
If the vehicle you are going to sell has new parts, such as battery or tyres, you can highlight these upgrades in your listing. In fact, buyers will be willing to pay more for a car that has new parts, even when it is damaged.
Highlight what is good about your car
You may focus on the usable parts and features your car has. So, when other major components are still in good working condition, you may highlight them in your ad. You may also focus on hobbyist mechanics or car enthusiasts that are looking for project cars to restore. That said, they will surely pay a decent price for a vehicle they can fix up themselves.
Sell your car for its parts
It is also advisable to sell the parts of your car individually to bring in more money than selling it whole. The major working components of your vehicle can be sold separately that many people are looking for. There are many websites where you can post your listing and are great for selling auto parts. Thus, you may create a list of parts that are still in good condition. Include the estimated value of each component. This will help buyers see the potential value in the car to justify paying the higher price.
Overall, don’t be afraid to negotiate and avoid accepting lowball offers. You have to decide on the minimum amount that you are willing to accept before meeting with potential buyers. Note that even damaged cars can look more attractive to buyers if you can provide a clean title. So, produce the title to indicate that the car has not been declared a total loss by an insurance company.
