No one likes the thought of getting the vehicle into an accident, but the truth is we can’t control the future. Hence, it’s better to drive the car with the proper insurance coverage. But, the query starts once the vehicle gets into an accident. What would be its value? Is it a wise idea to sell or buy such an accident vehicle?
Here, we researched these queries by surfing the forums and discussions. Hopefully, it makes you make the right decision on buying or selling the cars.
Let’s discuss further.
What types of accidents do you have to worry?
The car value and the dealer calculation on the damaged vehicle are more important to know when it comes to selling the car. If it is scratched, small dents on the car parts, then it has the least impact, whereas the severe collisions like bumping into other car or onto something, then it have a high impact on its value.
If you’re unsure about the accident history, the second way is by getting to know the insurance write-off categories. You know that based on four categories, the insurer classifies the vehicle into scrap, salvage, repair & drive after DVLA permits. It actually decides the vehicle’s future.
Better try to check if the vehicle is written-off using the online car checks.
It is possible to change your car write off category?
No, it’s impossible to reconsider once the insurer evaluates the vehicle under Cat A or B. You have to either scrap or salvage the car parts. The car’s worth is based on the following:
- Car value before the accident
- Severity of damage
- Quality and extent of repairs
There are only the least chances to prove to MIAFTR that the car can be worth driving back on the UK roads. For that, you need to follow certain rules, ensure the current market value, and how much it costs to repair the vehicles. It is not cent percent to prove your vehicle worthiness, but you can try!
What does diminished value tell you?
If the repair cost of your vehicle is “too high” relative to its value, then you can get the claim based on the pre-accident value. Another way, you may find the insurers considering the “diminished car value.”
Diminished cars are what can be your car worth before and after the accident. You need to be aware when it comes to claiming vehicle insurance. The diminished value helps to cover the repairs that require bringing back the vehicle on the road. However, it is calculated based on the damage and also car mileage.
Do dealers /buyers accept the accident vehicle?
Once the car gets listed under any write-off categories, it is quite a tough game to move it to the showroom. However, a buyer always thinks that the damaged cars are negotiable and can have a better deal. It’s why most of the dealers make it possible but keeps an eye on the car value after the write-off mark.
The advice is, don’t buy an accident vehicle as it never comes for a long time and needs time to time to repair. However, some buyers get attracted by the discount tag and low-cost word. Better say no to such vehicles!
