When a vehicle has reached its end of life, the natural progression is for the owner to dispose of it. That can happen in many ways including a trade-in at the car dealership, donation to a charity program, or by selling the car for scrap. The process is common for most old and unwanted vehicles from total loss cars to mechanical breakdowns and vehicles that are no longer serviceable due to rust or corrosion.
In a vast majority of cases, these cars, trucks, SUVs, and vans end up at a scrap yard. After being broken down into separate resources – steel, aluminum, rubber, copper, and such – the materials are sold to recyclers where they are reused in manufacturing new products. Of itself, recycling old and broken-down or crashed cars is an excellent way to return them to valuable resources.
The challenge, however, is presented in valuing damaged cars. The typical recycler uses a singular appraisal method in the salvage market – the weigh scale. A scrap vehicle’s value is priced based on its weight at the recycler and doesn’t consider any other factors. That can detract from the appeal of recycling an old car for the owner.
The Old Industry Method to Valuating Scrap Cars
At a scrap yard, owners are faced with a fluctuating price for their scrap or junk cars based on the trade prices for raw materials. It doesn’t take into consideration items like:
- Higher-value trim levels
- Reusable or recyclable individual components
- Vehicles that could be repaired and returned to service
- The age, make, or model of the vehicle
It gives the same price per pound to very different vehicles. For example, a total loss 2004 Chevrolet Cavalier is offered the same price per pound as a 2004 Cadillac STS with mechanical issues. In any other market, there would be vastly different values. It’s a disservice to owners of end-of-life vehicles.
How DamagedCars.com Offers a New Take on Valuations
That’s where DamagedCars.com shakes up the aging scrap market. After acknowledging the pain point car owners experience when trying to sell old, unwanted cars for a fair price, DamagedCars.com set out to create a more equitable solution.
Since used car valuations couldn’t accurately appraise the value of a car that had damage beyond normal wear and tear, a new method had to be found. A proprietary software system was developed to appraise vehicles grounded on large databases of damaged cars and their selling prices. Unlike salvage market pricing, this structure considers factors that more accurately reflect a car’s value aside from their total weight on a scale.
The databases used by DamagedCars.com are parsed to ensure accurate quotes are provided. The factors include the car’s year, make, and model as well as its overall condition. Owners are asked to provide detailed information about the type and location of damage, as well as mileage and vehicle options.
Once a vehicle’s condition is accurately determined, it’s paired with a network of local buyers. The owner is presented with an offer based on the best price available nearby. Buyers may be recyclers or repairers and have expressed interest in finding a certain caliber of vehicle.
How It Works?
The new technology DamagedCars.com offers the salvage market in the United States provides a welcome alternative to owners of less-than-perfect vehicles. Since the complete vehicle sale can be completed at the owner’s leisure – at home, work, or on mobile – it’s less restrictive and intrusive, and commonly offers higher values than a scrapyard would.
- When an owner first finds DamagedCars.com, they request an offer for their vehicle. There’s no subscription required nor fees to pay for the service.
- Complete and comprehensive vehicle information is required by DamagedCars.com to provide a quote, all of which can be supplied online.
- Once submitted, a quote is determined via proprietary software and returned to the seller. A quote is guaranteed for seven days. There is no obligation to accept the quote.
- Upon acceptance, DamagedCars.com prepares and delivers payment, typically within one to two business days.
- Paperwork and title transfer information is prepared by DamagedCars.com to complete the transaction.
- Within approximately seven days of the quote acceptance, the vehicle is picked up from the owner at no charge.
DamagedCars.com is proud to offer a better way to sell old, damaged, or unwanted cars in many major areas in the United States, thanks to new technology they’ve developed. If you’re interested in selling an old or salvage car or you’d like to join the buyer network in your area, visit DamagedCars.com.