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How CARFAX kills Wrecked Vehicle Resale Value (WVRV)

Joseph Coupal - Wednesday, December 26, 2012

Vehicle history reports such as CarFax and AutoCheck are a critical part of the used vehicle transaction. If you are selling a vehicle with a "Bad CarFax" you can expect to see up to a 16% reduction in selling price - and this is after you've sunk the money into repairing your wrecked car!

Nearly a quarter of a billion (250 million) vehicle history reports are purchased every year in the United States. That's one for every car on the road. However, that statistic is somewhat misleading - the average car for sale has 4-5 vehicle history reports pulled - by multiple potential buyers (consumers and dealers). An independent consumer study indicated that 3 out of 4 used car buyers bought a vehicle history report as part of their research.

What do these incredible statistics mean? Even if you repair your car after a collision, there is no way to hide the accident from potential buyers. Even if the car was repaired to your manufacturer's specifications, its value is impaired permanently because virtually every buyer will know it was wrecked and they assume the worst. This is called STIGMA history - a scarlet letter for the wrecked vehicle owner.

It is time for a PARADIGM SHIFT on handling your vehicle post accident. Just as you would not repair a broken television, clock or microwave, don't repair your wrecked vehicle. Sell it to DamageMAX and let us worry about what to do with your wrecked car. We buy damaged vehicles every day and specialize in your once-in-a-lifetime problem.

It your right not to repair your vehicle. You may request the settlement check and not repair the vehicle. If you wrecked your car 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! 


The Sum of the Parts are Usually Worth More than the Whole, Especially in the Damaged Vehicle World

Joseph Coupal - Monday, December 24, 2012

DamageMAX announces education series for consumer awareness.

The sum of the parts are usually worth more than the whole, especially in the damaged vehicle world.

Here are some great examples:

  1. The Engine from a 2006 Nissan Maxima is worth about $500
    • FALSE – an complete engine assembly sells for $1500 on average
  2. The Right Front Door from this car is worth:
    1. $250
    2. $500
    3. $650
    4. $850 – if you guessed $850 you are correct
  3. The transmission from this vehicle is worth:
    1. $500
    2. $750
    3. $1500
    4. $2000 – yes, on average the transmission will fetch $2000

2/3rds of all accidents are front end collisions which creates demand for those parts from the windshield, forward. That includes the engine and the transmission in almost all configurations. If your vehicle has a good engine and transmission and the miles are below 85,000 it has significant value left that you can convert to cash. Sell your wrecked vehicle to DamageMAX and get a head start on a replacement vehicle.

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!


Don’t Fix your Wrecked Car – Sell It Now

Joseph Coupal - Tuesday, December 18, 2012

Selling a repaired vehicle will cost you up to 12% in diminished value

One in six cars in the U.S. shows an accident history on record according to a recent study by CarGurus. Even a professionally repaired vehicle is worth up to 12 percent less than those of comparable cars without an accident history.

CarFax and other vehicle history reports are your friend if you are a buyer, but can really hurt your wallet if you are a seller.

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

Sell your wrecked car to DamageMAX today! Take the DamageMAX check and your repair check and buy a new car tomorrow. DamageMAX will deal with the headache that WAS your car.

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!


Been in an Accident?

Joseph Coupal - Friday, December 14, 2012

Don't be a victim twice - sell your wrecked car for top dollar NOW!

It's the worst day of your life. You've been in a serious car accident. Thank goodness the airbags saved you from serious injury. Now you've got to deal with the insurance adjuster and the body shop. Talk about adding insult to injury - your car's going to be in the shop for a month and you'll be driving a subcompact rental. But that's just the way it is.

Correction - that's the way it was! It is your right not to repair your vehicle. You may request the settlement check and not repair the vehicle. If you wrecked your car 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!

Don't drive that subcompact for a month. Sell your wrecked car to DamageMAX today! Take the DamageMAX check and your repair check and buy a new car tomorrow. DamageMAX will deal the headache that WAS your car.

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!


What Your Auto Insurer Doesn't Want You to Know

Joseph Coupal - Wednesday, December 12, 2012

Industry Secret #2

"State Minimum Coverage"

"Legal for Less"

"Liability Only"

You stretch to make ends meet… you're a great driver, why pay for all that extra insurance? You've never even filed an insurance claim before...

Until now! Just when you think nothing else could go wrong, you’re in an accident. You looked down for one second to see who texted you - and now your car is wrecked.

You call your insurer hoping for help - but they can't - you were at fault and you are not carrying collision or comprehensive coverage. You can't even get reimbursed for a rental until you sort things out. Now your car won't move and you can't afford to repair it. How are you getting to work tomorrow? What should you do with your wrecked car?

If you are lucky, your insurance company already has a custom referral program with DamageMAX and we will buy your total loss car. If not, don't despair - DamageMAX is now open to the public. DamageMAX buys wrecked cars, all over the USA.

If you wrecked your car and simply just don't feel comfortable driving the car again, please consider selling your wrecked car to DamageMAX. DamageMAX will buy your wreck “AS-IS"!

DamageMAX pays MAXimum value for your Damaged vehicle

Call us 24/7/365 at 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!


I Just Wrecked My Car!

Joseph Coupal - Wednesday, December 05, 2012

What should you do?
 
Repair it?  Maybe.  Accidents with less than $2000 in damage can be quickly fixed with minimal down time and rental vehicle expense.  IMPORTANT:  vehicles with less than $2000 in damage most likely have superficial(cosmetic) damage rather than structural repairs which affect vehicle integrity and market value.
 
Moderate to severe collision damage (more than $2000) will take your vehicle off road for several weeks.  Before you make the decision to repair your vehicle look at the following:

  1. Model Year – if it’s older than 2009, it makes good sense to trade out now
  2. Miles – more than 80,000 miles and the red flag should be up – do you really want to put money into a car with limited life left in it?
  3. Market Value – if the damage on your car is greater than 20% of the BOOK VALUE – do not fix the car!

Sell your junk car to DamageMAX for TOP DOLLAR and pocket the repair check.
 
Take both checks and buy a new car or upgrade to a nicer pre-owned vehicle.  
 
DamageMAX pays MAXimum dollar for your junk car.
 
Even damaged, your vehicle has valuable parts and components that can be resold here in the US or abroad.  Today, the carcass of a vehicle can be sold by the pound to nations where steel is scarce and in high demand.
 
DamageMAX will buy damaged vehicles AS-IS and we pick up for free!  Consumers stuck with a damaged vehicle can get quick cash to put toward a replacement vehicle.  If you can't or won't have your car repaired, simply pocket the insurance claim check and DamageMAX will pay you to walk away from the vehicle.
 
Call 888-629-2137 or email info@damagemax.com for an instant quote!


Need Holiday Cash? Own a Wrecked Car?

Joseph Coupal - Friday, November 30, 2012

DamageMAX has got you covered!
 
Been in a car accident and can't get rid of your car for a decent price?  Help is on the way!

So you've been in an accident and your insurer has denied your claim.  Whether it was a DUI, unauthorized driver or you just forgot to mail in your premium, your insurer is not paying for your accident.  You've taken your car back to the dealer where you bought it and they won't even make an offer because your vehicle has one of the following:

  • Negative CARFAX
  • Salvage or Theft Title
  • Negative Vehicle History
  • Flood Damaged

DamageMAX BUYS JUNK CARS!  "It's what we do!"
 
Even damaged, your vehicle has valuable parts and components and may even be restored to roadworthy condition - it is worth more than scrap!
 
Stuck with a problem vehicle?  DamageMAX wants your car!  If you can't afford to have the car repaired, DamageMAX will pay you to walk away from the vehicle.  Take that money to buy a new vehicle.  DamageMAX pays MAXimum value for your damaged vehicle.
 
DamageMAX pays for what the vehicle is worth based either on the value of the parts or its retail value less the repair cost.
 
Top $$$ paid + free pickup
 
Call for a no obligation quote
 
Call 888-629-2137 or email info@damagemax.com for an instant quote!


Don't Sell your Damaged Car to a Scrap Yard!

Joseph Coupal - Wednesday, November 28, 2012

Stop! Been in an accident with no insurance coverage?  Liability Insurance only?  At fault?   Don't give your damaged car to the storage yard or settle for just scrap value!  It may not be worth fixing but the parts may be your Holiday Cash or the Down Payment on a new vehicle!

Even damaged, most wrecked vehicles have valuable parts and components – the vehicle may even be restored to roadworthy condition by an exporter.  We have access to these buyers plus international markets and bring those dollars to you!

DamageMAX purchases damaged vehicles AS IS and can buy your damaged vehicle for cash, quickly.  If you can't afford to have the car repaired, simply pocket the insurance claim check and DamageMAX will pay you to walk away from the vehicle.  Take that money to buy a new vehicle.  DamageMAX pays MAXimum value for your damaged vehicle and will pay your storage and impound fees!  Call us before you give the title up to a storage yard in exchange for relief from a few hundred dollars in storage charges.  Most used engines will sell for more than $1000 and a door for $400.

DamageMAX has your back!


Was your Car Totaled? Should you keep the vehicle?

Joseph Coupal - Friday, November 23, 2012

"Owner retained" is a term you've probably never heard. Of the 4 million vehicles totaled every year in the United States, 1 million are "retained" by the "owner". They choose to actually keep the wrecked car rather than sending it to the scrap heap. Why? The owner knows the car better than the insurance company and thinks it can be either repaired or sold at a profit.

If the owner is automotive savvy, this is often the case!

Below is a typical situation:

  • You've been in a car accident
  • The insurance adjuster estimates damage of $8,500
  • Your vehicle's pre-crash value (ACV) is $10,000
  • Your state has an 80% damage threshold for declaring vehicle a total loss
  • At 85% ($8,500/$10,000), your vehicle is declared a total loss by your insurer
  • The insurance company estimates your vehicle is worth $500 post-crash (salvage value)

You have 2 options:

  • Take the $10,000 less your deductible ($1,000) and pass title to your insurer
  • Take the $10,000 less your deductible ($1,000) and salvage value ($500) and keep your car (with a salvage title)

In the second option, you are essentially taking the settlement and buying your damaged car from the insurance company. You may choose to repair the car or sell it. If you choose to sell it, DamageMAX will buy it - you pocket the profit!

How does DamageMAX pay you more for your owner retained vehicle than your insurer? Your insurer wants to settle the claim quickly and usually discounts your "owner retained" vehicle to encourage you to settle. This can be your advantage - contact DamageMAX to find out how much we will pay for your "owner retained" vehicle.

DamageMAX pays MAXimum Value for your Damaged Car!

Call 888-629-2137 24 hours / 7 days for a free quote on any damaged vehicle