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Debunking Myths: Can You Sell A Financed Broken Car
Debunking Myths: Can You Sell A Financed Broken Car?
You crashed your car that is still under finance. Insurance rejected your claim. Now, you’re stuck in a sticky conundrum. How will you settle the remaining balance with the bank? Can you sell a financed broken car? Who buys broken cars near me? SYDC to the rescue 🚀
Not only does SYDC buy accident-damaged, broken cars, but we also have a long-established relationship with many major banks, allowing us to negotiate a fair and acceptable price on your vehicle. 💃🏽
The Financed Broken Car Conundrum Solved
When your car is under finance, the bank legally owns the car until the loan is fully settled.
This arrangement can make selling the vehicle seem daunting, especially if it's accident-damaged and uninsured.
Traditional buyers often hesitate to purchase such cars due to the complexities involved.
However, specialised services like SYDC are equipped to handle these challenges, offering a streamlined process for sellers.
With over 8 years of industry experience and loads of positive customer reviews (ranking us #1 in auctions and giving us a major stamp of approval with an 8.9 TrustIndex rating), we are sure to guide you through the process of selling your broken car hassle-free.
How SYDC Facilitates the Sale of Financed, Broken Vehicles
We at SYDC have established strong relationships with various financial institutions, enabling us to negotiate fair prices for financed, accident-damaged cars.
Our process includes:
- Negotiation with Banks: The Repudiations Department makes an offer that they propose to the banks for your broken car. While we cannot guarantee eliminating all outstanding debt, we aim to alleviate some of the financial burden, enabling easier repayment of outstanding debt.
- Comprehensive Services: Beyond purchasing the vehicle, we offer free towing, handle all necessary paperwork to deregister your car, and provide instant cash payments, ensuring you enjoy a hassle-free sale.
- Assistance with Insurance Rejections: If your insurance claim has been denied due to issues like tyre tread or roadworthiness, we can still help you purchase your vehicle.
Limitations to Consider
While we strive to assist as many clients as possible, there are certain limitations:
- Mechanical Damage: We cannot guarantee the purchase of mechanically damaged financed cars, as banks often prefer full settlement of outstanding amounts for these vehicles.
- Outstanding Debt: Although we negotiate with banks to reduce your debt, any remaining balance after the sale remains your responsibility.
The SYDC Advantage
Choosing to sell your financed broken car with SYDC offers several advantages over other service providers:
- Experience and Trust: We are South Africa's fastest-growing platform for selling damaged or non-running cars, and we have purchased over 7,000 vehicles nationwide.
- Customer Satisfaction: With an 8.9 Trust Index rating, a top ranking in auctions on Hellopeter, and over 300 reviews, you can rest assured that we’ve got you covered.
- Convenience: We offer a nationwide service with instant payment, free towing, seamless customer service, and a transparent, straightforward process to keep you happy.
How Can I Sell My Financed Car to SYDC?
- Submit Your Details: Complete the online form on our website with your personal and vehicle information.
- Receive an Offer: A consultant will contact you to finalise details and request photos of your car. Based on this information, we will provide a fair and accurate obligation-free price.
- Accept the Offer: Once you accept the offer, we will handle all the paperwork and arrange for free towing of your damaged car.
- Get Paid: After the vehicle is collected and inspected to confirm its condition, funds will be electronically transferred to settle some of the remaining debt with your bank.
Make Selling Your Broken Car Easy
At Sell Your Damaged Car, we aim to make selling any damaged car as easy as possible. Whether your broken vehicle is under finance or paid off, we want to buy it!
With obligation-free instant quotes, free towing services, paperwork sorting, and negotiation with finance houses as part of our promise, there are plenty of reasons to choose SYDC.