If your vehicle wound up in a lake, or flooded waters, there is little to no chance at restoring back to its original condition for less than what it would cost to buy another car. Not only will all that water rust every single internal component, it will destroy any electrical workings.
In these cases, most insurance companies will label a vehicle a total loss because the cost to repair it is more than the current market value of the vehicle. Continue reading to learn what your options are for selling a car that was submerged under water.
Great News For You!
The great news is that you CAN sell your car if it has been under water for some reason. The catch is that you must be open and honest regarding its history and damage. When selling it, you must disclose the damage upfront, even if the vehicle still runs and you have a title that shows proof of the damage.
Upon reporting your car to your insurance provide, you will receive a title that is termed as a “flood salvage title.” With this title, you can now legally sell your vehicle to anyone you like, publically or privately. Although it could be a challenge to find a private buyer that wants a junked car, there are several public buyers that purchase junk cars.
Junk Car Buyers
The best option for selling a junk car with a flood salvage title is to choose a local and reputable Indianapolis cash for cars business. There are literally thousands of companies to choose from, so be sure to weed out the risky choices by looking for a junk car buyer that has experience, longevity in the business, and good customer reviews.