SELLING A FLOOD DAMAGED CAR
Is your flood damaged car worth anything. The answer is Yes! However, you need to be careful how you sell your car and you need to be honest with your buyer.
If you car is insured some insurance companies will allow you to keep your vehicle and take a reduction in your insurance payout. They will however only give you a salvage title so it is clear to any buyer that the car has been determined to be totaled by an insurance company. Before considering buying your flooded car back from an insurance company, get quotes on your junk car from local salvage yards and from on line junk car buyers.
What parts of your car can still have value after the car is flooded? That depends on how high the water got. Sometimes the electrical system can be shot but the engine and transmission may still have value. If you car was flooded with salt water the car is likely be only worth the scrap metal. However, even the tires if they are in good condition can bring several hundred dollars. If the car is drive-able but the interior was badly damaged, meaning the water probably only got to just above the bottom of the doors then you probably have a junk car that is worth more than scrap.
As always when you sell a junk car make sure to get a receipt from the buyer, make sure the receipt is noted that the car was flooded and if you state has a waiver of responsibility form, be sure to fill that form out and send it in to the state DMV office.
We have agents who specialize in valuing flood and hail damaged cars. In New Jersey we make it easy for you, just give us a call and we will be happy to provide you with a quote for your junk car.
To learn more about selling a flood damaged car check out this site.