If my car is declared totaled by my insurance company, I wonder if I can do better by selling it for parts to a local parts dealer?
Not very likely…The local salvage yard will buy it cheaper at the insurance companies next auction…Now you very well MIGHT be able to find a private buyer who is looking for a parts vehicle and is willing to pay for it…Value depends on model year and mileage…The engine and transmission are the key “value” parts. Do your homework before you get into the salvage business. Check with your neighbors too…
You may be right, but we’re in the boonies, and I know 4Runners parts are at a premium. But, I haven’t yet heard what the insurance co will offer…my car is primo cared for, engine and transmission replaced, Thanks for your response.
Two years ago I was in the market for a V-6 Four-runner engine. Yes those parts are valuable.
If, as I understand it, your insurance company has offered to let you “buy back” your car for a stated price, you probably can part it out yourself for more than you’d get for selling it to them for somewhat larger price. They know about what it will bring at auction. The salvage yards may indeed be willing to pay you more for it than they would pay to an insurance auction. The reason is that the insurance auctions charge a VERY high buyer fee. You wouldn’t be charging one. If the “totalled” car would bring say $2000 at the insurance auction, the fee that the buyer would pay would be about $250.
Is there damage to the undercarrige or the unibody’s “frame”? No? Then there is the possibility that your Toyota might not actually be “totalled” but could be rebuilt economically by using parts from a salvage yard. This is especially true if you can find parts that same color as your car. I put a pair of black doors on a Mercury Sable just this afternoon. Believe me painting is expensive.
Around here about the most a salvage yard will pay for a total car is around 150 bucks unless it’s something that is very late model, very low miles, and is known that most of it can be turned quickly.
Get into a higher mileage, 10 year old car and it often becomes a 100-125 dollar vehicle tops.
I would think it would bring far more on a Cragislist ad, local trade paper, or something like that.
If you have the time and the space, you can DEFINITELY do better parting it out yourself, particularly if it’s a car with an enthusiast community.
This is not something to do if you aren’t handy with a wrench and don’t have a lot of time on your hands, though.
Primo cared-for but you had the engine and transmission replaced? Why? Rocketman
After the drive-line and axles are gone, YOU will have to have the rest of the junk hauled out of your yard…Good Luck…