As a vehicle gets older, it will gradually lose its value. Most people are familiar with this concept of depreciation, but they may be surprised to find that the vehicle is not worth much at all if they are unlucky enough to be involved in a significant accident. Yet all may not be lost if the vehicle is repairable but has been written off by the insurer. What do you need to do to get some value out of this car or truck, when all the dust has settled?
Repairing a Write-Off
Insurance adjusters work with very precise instructions and will typically use market rates to determine the cost of individual parts and hourly labour. As you may know, spare parts can cost a lot more when sourced from the main dealer rather than from an online or trade source. It may also be possible to find a panel beater or mechanic who will work for rates that are significantly lower than the norm. Even though the vehicle has been technically written off, you may nevertheless be able to repair it independently, but you will need to make sure that it has been identified as "repairable" by the adjuster.
Starting Off
Your first step is to find a technician who will agree to do the repairs necessary for a price that is within your calculations. You can then work with them to find spare parts at a similarly acceptable price, and schedule the work.
Written-Off Vehicle Inspection
However, before you can legitimately sell this vehicle to a third party and recoup some of your losses, you must make sure that it has a safety certificate and that it is presented for a special vehicle inspection. This is not like the traditional vehicle test that is mandated by your state or territory, but it is a written-off vehicle inspection and will need to be done by an authorised company.
Necessary Information
When you present at such an inspection, you will need to provide all the pertinent details of the vehicle. This will include the identification number (VIN) and its registration number, together with your identity, the safety certificate and your proof of ownership. You will also need to show that you have receipts for all of the repairs and that the work has been performed according to acceptable standards.
Next Step
Always make sure that you take the vehicle to an accredited inspector so that you can transfer its ownership to a third party with a clear conscience.
For more information, reach out to a vehicle inspection service in your area.