If you were at-fault for an auto accident, you may be limited in your options for getting your vehicle repaired, especially if you have minimal insurance coverage. In the state of Utah, if you only carry liability insurance, you’ll have to finance your auto repairs out of pocket. However, before you scrap or part-out your car, you should ask an experienced mechanic to quote a repair cost.
If your vehicle is a total loss (its repair costs exceed 50% of its value) you should consider scrapping the vehicle or privately selling its working parts. You can then use this money to finance the purchase of another car. Selling your vehicle to a salvage yard is a quick and relatively simple process. However, you may receive less compensation for your vehicle than if you were to sell it for parts.
Scrapping Your Car
If you decide to sell your car to a scrap or salvage yard, you may receive some lowball offers. These businesses need to be able to turn a profit from your vehicle, and as a result, may give you a low offer.
You may also call around to several different scrap yards; choosing the one that offers you the best price. However, if you sell some of the vital parts, like the engine or transmission, before selling it to a salvage yard, you may have a difficult time finding a buyer.
Selling Your Car’s Parts
Typically, you can earn more money for your vehicle by selling the individual parts. However, some parts may take longer than others to sell or they may not sell at all. Additionally, you will require some mechanical knowledge in order to properly dismantle your vehicle so as not to cause additional damage.
It is recommended that you sell the smaller/lighter parts online, and restrict the larger/heavier parts to local purchases only; shipping heavy automobile parts can be extremely costly. Furthermore, if you don’t think you have any ‘quick selling’ vehicular parts, you should consider recycling your vehicle. You can recycle any plastics, rubber, or metal materials, as well as the engine and transmission of your vehicle; accounting for approximately 80% of its composition.
What is a Fair Price for ‘Fast Selling’ Items
The value of your car’s old parts will depend on their condition, the make, model, and year of your car, as well as the mileage on the engine. Below is a list of potential parts you can sell, as well as their fair resale value.
- If the airbags were not recalled, you could earn as much as $150
- Car Battery
- You can expect to make around 50-70% of what the battery was worth when it was new. The newer the battery the greater its resale value.
- Brake Rotors
- Generic brake rotors sell for approximately $60. However, if your vehicle has performance brakes, you can reasonably sell them for up to $200.
- The Engine
- The engine of your vehicle is one of the most valuable pieces, as it can be repaired and placed inside a new vehicle. Generally speaking, you can expect to sell an engine for around $500.
- Engine Oil
- Used engine oil is a hazardous material, as a result, some states will pay you per gallon for used engine oil. You may also be able to locate interested third-parties who may pay up to 50 cents per gallon.
- Floor Mats
- If your floor mats are embossed with the model of your car, or have some other unique feature you can sell them as a set for around $20-60.
- Vehicle Seats
- Generally, you can expect to receive around $80 for your car seats.
- If your tires are less than 6 years old and have some life left in them, you may be able to get around $25-75 per tire or $100-300 per set.
- Depending on the mileage on your transmission, at a minimum, you can expect $200.
Were you or someone you know involved in a recent auto accident? Call Auto Accident Care Network now at 801-683-1948 to connect with a live care advocate. Our team at AACN can connect you to trusted attorneys and doctors to schedule a free legal consultation, a free thirty-minute massage, and a no-cost medical exam!