Wrecked Car Damaged Vehicle Blog

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Car is Totaled?

Joseph Coupal - Friday, April 19, 2013

Take Full Insurance Settlement, Don't Retain the Vehicle!

Many auto insurers encourage their policyholders to keep their vehicles even after declared a total loss. One major insurers boasts that nearly 25% of their total loss claims result in the salvage being "retained" by the policyholder. It works like this - policyholder gets check for the full value of the claim and then purchases the vehicle at a reduced (salvage) value from their insurer. Seems like a great idea for the insurer and the policyholder, right?

Wrong!

Many insurers are under the impression that there is "goodwill" associated with the owner- retained option since the policyholder did not want to scrap the car. Policyholders sometimes like this option because they are attached emotionally to the car or can't afford to replace it even with a full settlement. What policyholders often don't anticipate is the impact of a salvage title on their car's value - the title brand, but it will reduce the value by up to 50%!

Additionally, many policyholders believe they can repair the vehicle themselves based what seems to be an inflated damage estimate. However, many policyholders end up abandoning the project and liquidating the dismantled vehicle at a loss. Or, they fix the vehicle inadequately and drive the vehicle with sub-standard repairs.

There are success stories with owner-retained vehicles, but more often than not the policyholder ends up dissatisfied. When a policyholder asks DamageMAX to bid on their owner retained vehicle we decline to make an offer. Instead, we encourage the policyholder to take the full settlement and shop for a new vehicle.

However, many policyholders are in a more difficult situation - their vehicle is wrecked but not totaled and they can't or won't repair it. In this case DamageMAX will buy the policyholder's vehicle AS-IS.

Don't be taken, call DamageMAX for a fast, free, no obligation quote. It only takes a few minutes of your time to get MAX value for your Damaged Car. Please call 888-629-2137 or visit http://damagemax.com/contact-us.htm.

Sell Your Damaged or Broken Vehicle FAST & FREE

Joseph Coupal - Tuesday, April 09, 2013

Your wrecked or broken vehicle is worth more than you think! DamageMAX buys hundreds of wrecked vehicles every week all over the USA and we pay top dollar and transport for FREE!

If your vehicle is 2002 or newer, DamageMAX will guarantee that your damaged vehicle is worth more than the tow & storage bill – and we will even pay it if we buy your vehicle!

Your damaged or broken vehicle is worth nothing to you if it doesn't drive, but it's worth hundreds, maybe thousands of dollars to parts buyers, recyclers or dealers that will repair the vehicle and restore it to be driven again.

Don't junk your wrecked vehicle or give the title to the the tow or impound yard. If the tow yard is asking for the title, this is a guaranteed sign that your vehicle is worth a lot of money. Don't be taken, call DamageMAX for a fast, free, no obligation quote. It only takes a few minutes of your time to avoid being taken advantage of by a storage yard.

Please call 888-629-2137 or visit http://damagemax.com/contact-us.htm.

DamageMAX Launches Bankruptcy Liquidation Program

Joseph Coupal - Wednesday, February 27, 2013

Leading buyer of damaged vehicles partners with consumers and lending institutions to provide liquidity in a previously illiquid asset class.

ATLANTA AND NEW YORKDamageMAX announces bankruptcy liquidation program for damaged vehicles. DamageMAX is partnering with credit challenged consumers and their lending institutions to "work-out" damaged vehicles out for repossession or subject to bankruptcy proceedings. When a bankrupt or credit challenged consumer wrecks their automobile, 9 times out of 10 the vehicle turns "upside down" financially.

The accident destroys the vehicle's equity. Even if the vehicle is repaired via insurance coverage, accident history impairs the asset's value. In fact, a "Bad CarFax" report typically results in up to a 16% reduction in selling price - and this is after sinking the money into repairing the wrecked car! To make matters worse, most of these credit challenged consumers either don't carry full insurance coverage or have very high deductibles in an effort to reduce insurance premiums. Because the consumer now owes more that the vehicle is worth, they no longer have incentive to repair the vehicle.

DamageMAX can help lenders and borrowers close the gap in these situations. Without DamageMAX in the equation, the borrower does not have suitable transportation and the lender does not have sufficient collateral. DamageMAX works with lenders and borrowers to buy the damaged vehicle "AS-IS" allowing the lien to be partially or fully satisfied and the borrower to walk away from the asset, possibly with a down payment for a new vehicle.

If you are a credit challenged consumer with a wrecked vehicle, Call DamageMAX now! If you are a lender with impaired collateral, call DamageMAX now! Don't wait - this situation will not work itself out. DamageMAX will buy your wrecked car for top dollar and get you out of a bind. DamageMAX is nationwide and can pay off and pick up your wrecked car within 24 hours.

DamageMAX pays MAXimum value for your Damaged vehicle.

Call 888-629-2137 and email info@damagemax.com for an instant quote!

DamageMAX Announces Bankruptcy Liquidation Program for Damaged Vehicles

Joseph Coupal - Thursday, February 21, 2013

DamageMAX announces bankruptcy liquidation program for damaged vehicles. DamageMAX is partnering with credit challenged consumers and their lending institutions to "work-out" damaged vehicles subject to bankruptcy proceedings or out for repossession. When a bankrupt or credit challenged consumer wrecks their automobile, 9 times out of 10 the vehicle turns "upside down" financially.

The accident destroys the vehicle's equity. Even if the vehicle is repaired via insurance coverage, accident history impairs the asset's value. In fact, a "Bad CarFax" report typically results in up to a 16% reduction in selling price - and this is after sinking the money into repairing the wrecked car! To make matters worse, most of these credit challenged consumers either don't carry full insurance coverage or have very high deductibles in an effort to reduce insurance premiums. Because the consumer now owes more that the vehicle is worth, they no longer have incentive to repair the vehicle.

DamageMAX can help lenders and borrowers close the gap in these situations. Without DamageMAX in the equation, the borrower does not have suitable transportation and the lender does not have sufficient collateral. DamageMAX works with lenders and borrowers to buy the damaged vehicle "AS-IS" allowing the lien to be partially or fully satisfied and the borrower to walk away from the asset, possibly with a down payment for a new vehicle.

If you are a credit challenged consumer with a wrecked vehicle, Call DamageMAX now! If you are a lender with impaired collateral, call DamageMAX now! Don't wait - this situation will not work itself out. DamageMAX will buy your wrecked car for top dollar and get you out of a bind. DamageMAX is nationwide and can pay off and pick up your wrecked car often within 24 hours.

DamageMAX pays MAXimum value for your Damaged vehicle.

Call 888-629-2137 and email info@damagemax.com for an instant quote!

Selling your Wrecked Vehicle Fast & Free

Joseph Coupal - Monday, January 07, 2013

Online may appear to be the best option, but the internet can be a scary place. Especially if you are in distress and trying to get rid of your wrecked vehicle quickly because you are paying storage at a tow yard and have liability insurance only. Craig'slist.com sounds good, because it’s free. But it does not attract international buyers and parts buyers that would maximize the price you can get for your wrecked vehicle - it attracts bottom feeders looking to take advantage of your difficult situation. AutoTrader and Cars.com are focused on "front-line ready" vehicles that could be retailed immediately - not wrecked vehicles. There are auctions out there too - but eBay can't guarantee you a price instantly on your damaged vehicle, in fact a listing can take days or even weeks to produce a single bid.

DamageMAX can instantly price your wrecked vehicle and pick it up for free! We are wrecked vehicle experts and can pay top dollar, instantly!

If you have comprehensive insurance coverage and your repairs are covered, you have the right not to repair your vehicle. You may request the settlement check and not repair the vehicle. If you wrecked your vehicle and simply just don't feel comfortable driving the car again, please consider selling your damaged vehicle to DamageMAX. DamageMAX will buy your wreck and you keep the insurance check! Thought you could not have your cake and eat it too? Not so with DamageMAX!

DamageMAX will buy your wreck and you keep the insurance check!

DamageMAX pays MAXimum value for your Damaged vehicle

Call 888-629-2137 or email info@damagemax.com for an instant quote!

You just wrecked your vehicle?

Joseph Coupal - Monday, December 10, 2012

How to deal with the storage / tow yard

You just wrecked your car… your vehicle is blocking traffic, leaking fluids everywhere and the rubberneckers are glaring at you - some honking as they steer around accident debris and speed off. You wish you could do the same, but you have no choice but to wait for the police to come and sort things out. You are now a victim of “the process” and have no control over what happens next.

Upon arrival at the scene, the police officer will call for medical assistance (if necessary) and dispatch tow equipment to clear all vehicles from the roadway. He is going to follow procedure which means the towing company is pre-selected by the jurisdiction over that thoroughfare at the scene of the accident.

The police do not care about who picks up your car, where it is towed or how much it costs. One thing for certain, they are not going to wait for AAA and your tow bill will be 3 to 4 times what you would normally pay, in fact, the rates may not even be regulated. In some cities the average tow & storage bill is close to $1,000.

Unscrupulous impound yards and body shops often pay tow truck drivers a bounty to deliver them wrecked cars. Once the car is there the impound yard or body shop begins charging daily storage - anywhere from $20 - $75 per day plus an administrative fee (blue sky for services not rendered). We have seen administrative fees as high as $175 tacked on to tow & storage bills which in many jurisdictions is illegal!

All these charges can build quickly and some yards will demand “cash only” to get your vehicle released. In some cities like Chicago, this is quite common. If you can't pay, they demand the title for your vehicle!

Body shops will often waive or reduce this charge if you repair the vehicle at their facility. Seems like a nice gesture, right? Yes and no. If the body shop is reputable and performs quality repairs, you should be fine. If not, they will hold the storage and tow charges over your head to bully you into repairing the car there, even if you don't feel comfortable with the shop.

You may not even feel comfortable repairing the car. You just want to sell it and get a new vehicle. If this is the case, you must act quickly to stop the storage charges. The faster you can get your car out of storage, the more you save –especially if your insurance company wont cover these costs. DamageMAX will buy your car, pay off the storage/tow charges and you keep the insurance check. We can't help you if you don't call though. The faster you call us, the more money that will be in your pocket.

It’s your right not to repair your vehicle. You may request the settlement check and elect not to repair your vehicle. If you wrecked your car and simply don't feel comfortable driving the car again, please consider selling your damaged vehicle to DamageMAX. DamageMAX will buy your wreck and you keep the insurance check! Thought you could not have your cake and eat it too? Not so with DamageMAX !

DamageMAX will buy your wreck and you keep the insurance check!

DamageMAX pays MAXimum value for your Damaged vehicle

Call 888-629-2137 or email info@damagemax.com for an instant quote!


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