Get Your Car's Salvage Value!

What Is The Salvage Value Of A Car?

After your car is damaged from an accident, it’ll be worth less than it was before the collision. But, it still has some value. This is known as its salvage value.

The salvage value definition is the value of a damaged car that isn’t going to be repaired because it’s a total loss — the cost of repairs outweighs the resale value of the car — or it can’t be sufficiently repaired.

A car in this situation is often referred to as a salvage car or salvage vehicle.

Let's say your car has a 5-year life and is bought at $20,000.

Using straight-line depreciation, if your car's value depreciates at $3,000 a year, then at the end of its useful life it will be worth $5,000 ($20,000 minus $15,000 from depreciation expense). That's the salvage value of your car, truck, or SUV.

In reality, multiple factors impact the price of your car or van.

For example, a totaled car’s value will differ from the scrap value of a vehicle. Scrap value depends on the scrap metal prices which in recent years have sharply decreased.

Finding A Salvage Title Car Value

The good news is that the salvage price of your car may be much higher than local scrap vehicle prices, or what an insurance adjuster values your totaled car at.

You can find out how much your totaled car is worth now, or read on to learn more about salvage value.

You'll need a vehicle's scrap value for car reselling purposes. Salvage titles are issued once an insurance company deems a vehicle a total loss, but determinant factors differ per state.

Usually, the best price for a salvage title car you can get is 50 percent of the Kelly Blue Book or NADA salvage value.

Depending on the factors involved, how much a salvage title reduces a car's worth can be even more than that.

Many dealers won't buy rebuilt vehicles or those with salvage titles because of the unknown complications that may arise after purchasing.

How Can You Salvage Your Car For Cash?

When your car is declared to be a total loss or totaled by your insurance company, there are a couple of scenarios that can play out.

First, the insurance company can pay out a settlement check for the actual cash value (or ACV) of the car pre-accident minus any deductible. In that case, the insurance company takes ownership of your car.

Essentially, you’re selling your non-running car to the insurance company for whatever amount they feel it’s worth.

They can reach this salvage value calculation by using their software, Kelly Blue Book estimates, or other external sources.

How can you determine the salvage value of a car?

If you opt to keep your salvage title car, the insurance company will use a depreciation method to calculate the residual value of your car and reduce any settlement payout by that amount.

You’re essentially buying your salvage car from the insurance company.

Is there a clear salvage value formula?

There’s no easy, clear-cut formula for consistently and accurately calculating a car’s salvage value, as there are quite a few variables at play (although you can get a simplistic salvage value formula calculation).

The pre-accident condition of your car, the extent of damage, year, make, model, mileage, demand for parts from your car, and your location will all have an impact on how much money you can get for your car.

The second possibility is keeping the car yourself, so you can sell it to someone else. The act of keeping your car after an insurance company declares it as “totaled” is called owner retention or salvage retention.

In cases of owner or salvage retention, the amount of the check that the insurance company will give you would likely be different from the amount they give you if they keep the vehicle.

This is because when the auto insurance company keeps the vehicle, they pay you for the pre-accident value of the car minus your deductible.

When you keep the car, they will also subtract the price they expected to receive for it at auction.

Why Keep And Sell A Salvage Car Yourself?

If you have a totaled vehicle, you might be wondering why it would make sense to keep it when it has such extensive damage. The answer is that you can sell it to a company that specializes in buying totaled cars for cash.

Don't settle for car scrap prices.

You sell it "as is" and don't have to deal with the hassle and significant expense of trying to get the car repaired or driving a damaged car that is probably unsafe.

Plus, while you have a check from the insurance company for the salvage value, you can also get a check from DamagedCars.com by selling the car to us.

DamagedCars.com is a fast, easy and secure way to sell your junk car online.

How To Determine The Salvage Value Of A Car

You'll have a lot to consider before you scrap your car since your car's scrap value will be based on either scrap metal prices per metric ton or other scrap car prices in the area similar to yours.

Salvage quotes differ largely based on location, make, and model.

A 2003 Toyota Corolla's salvage value could be as low as $200 while a Ford F150's scrap value might be higher due to the heavier weight.

They use different scrap metal materials and will be more or less desirable in different states that are in need of those materials.

If you're asking 'how much do salvage yards pay for cars?' then you can expect a payment of between $100 and $200, or lower since they want to create a buffer for profit.

As you can see, scrapping your car usually isn't the best choice when trying to get the best price for your vehicle.

Typically, the auto salvage value calculator is a person's eyes and guesses.

But you still want to sell your damaged car for the real price of your vehicle, fast. And a car with a salvage title's value is subject to the few willing to buy it, and what they will pay.

The Best Way To Get The Value Of Your Salvage Car

So, how should you try to determine the value of a totaled car? A scrap car value calculator or salvage car value calculator will likely be inaccurate.

Luckily, through decades of damaged car buying experience, DamagedCars.com can calculate the value of your wrecked car in 90 seconds and give you a guaranteed offer.

We buy salvage cars every day so we can accurately give top salvage car prices.

No need to find scrap yards around you. Rather than settling for the average salvage value of a car, we can help get you a better offer.

At DamagedCars.com, we specialize in buying damaged vehicles and vehicles in less-than-perfect condition.

We’ll give you a quote on what your specific salvage vehicle is worth, so you get the most value for your vehicle.

With our scrap car price calculator, our offers are guaranteed.

There are no fees if you choose to sell your car to DamagedCars.com. You'll never have to ask again "how much is a salvage car worth?"

Why Use DamagedCars.com? Find The Cash Value Of My Car

There are some clear benefits to selling your broken-down, wrecked, or salvage car to DamagedCars.com:

• Avoid expensive, lengthy repairs.

• No worries about driving a wrecked and repaired car.

• Sometimes taking the salvage value and your insurance check are a better value than selling a repaired car.

• A repaired car can lose up to 30 percent of its never-damaged value.

Why sell your car to us and not a private party?

• Our professional staff will make you a great offer within hours.

• We make all the arrangements for pick up at no cost to you.

• You get rid of your car “as-is” and get a check for it on the spot.

With convenient locations throughout the continental US, and our professional approach, we are able to make you an offer, take care of car removal and pay you within days of your decision to sell your car, so stop worrying about whether to repair your car.

We are top salvage car buyers in the USA. Get your full vehicle salvage value and more by contacting DamagedCars.com today.