Whether a serious head-on collision or a minor bumper-bashing, fixing or selling your financed accident-damaged car can be challenging. When money is tight and you’re uninsured, would it be better to repair or sell a written-off car? The good news? There are trusted, efficient solutions for selling a wrecked vehicle, even if you’re still paying it off at the bank.
We unpack your options so you can choose your next steps wisely:
Can you sell a financed, accident-damaged car?
Yes, you can sell a car that has been written off, even if you still owe money on it. A ‘written-off’ car is simply one that your insurer deems too expensive to repair compared to its current market value.
But that doesn’t mean it has no value. Selling a written-off car through the right platform can help you recover a significant portion of its worth.
If your car is financed, the situation may feel more complex. But, the process is relatively straightforward when you work with a reputable damaged car sales platform that can negotiate with finance houses.
Is it worth repairing your accident-damaged car?
Here’s what you should consider before choosing to repair:
- Repair costs: Accident repairs often exceed the car’s value, especially when structural damage is involved; however, if it was a minor fender bender, perhaps repairs are a viable option.
- Turnaround times: Major repairs can leave you without transport for weeks or months. Is this something you can work around?
- Future reliability concerns: Repaired cars may still have lingering issues or hidden faults. Learn more about previously repaired cars here.
- Depreciation: A repaired, previously damaged car is worth less in the long run in the resale market.
When you weigh these factors, selling a wrecked vehicle, even if it’s still under finance, can make more financial sense, saving you money, time, and hassle.
Why selling may be the better option
Selling your financed, accident-damaged car can relieve the stress of continued repayments on a vehicle you no longer trust or can’t drive.
A trusted damaged car sales platform will guide you through settling your loan and transferring ownership legally and transparently.
Here’s why thousands of South Africans are choosing to sell rather than repair:
Benefits of selling your financed, accident-damaged car:
- Instant cash offers and same-day payment
- Nationwide service – sell from anywhere in South Africa
- Transparent valuations and a stress-free process
- Choosing a platform that’s backed by independent reviews on a platform like Hellopeter, that is rated #1 in auctions and 4.68 stars
How does selling a financed, written-off car work?
Selling a financed car may sound complicated, but it’s surprisingly straightforward when working with the right partner. Here’s a quick breakdown:
- Vehicle evaluation: Submit your vehicle details online, including damage type and personal details.
- Get a cash offer: You’ll receive a fair market offer based on real-time auction demand.
- Finance settlement: If your car is still under finance, the platform helps settle your outstanding loan directly with the bank.
- Instant payment: If the sales offer exceeds the settlement amount, the remainder is paid directly to you, fast and secure.
- Vehicle collection: Your damaged car is collected nationwide at no additional cost.
This seamless process removes the usual red tape of selling a wrecked vehicle or trying to offload a written-off car yourself.
Let’s unpack your FAQs
Q: Can you sell a car that has been written off but is still under finance?
A: Yes. The settlement amount must be paid before transferring ownership. A professional damaged vehicle buyer can assist with this process.
Q: How do I know if selling is better than repairing?
A: Compare the repair cost with the car’s pre-accident market value. If repairs exceed or come close to the value, selling is usually the better route.
Q: Do I need to find a buyer myself?
A: No. Using a leading online damaged car sales platform ensures you get a fair price and faster sale while feeling safe through the process.
Where can you sell a written-off car in South Africa?
When selling a written-off car, you want the best possible value, fast payment, and reliable customer service. Many sellers trust reliable damaged car sales platforms with branches nationwide.
Every day, they buy ALL damaged and non-running vehicles, from minor dings to total write-offs.
If you’re asking yourself whether to sell or repair your financed, accident-damaged car, now’s the time to explore your options with South Africa’s most trusted buyer of salvage cars.
With the help of a trusted damaged car platform, you can easily and confidently sell your financed, accident-damaged car.