What does “Written Off Car” mean?
Written-off means that a car has been damaged to the point where it is not economically viable to repair it. The severity of the damage will determine whether a car is written-off or not – for example, if a car has been in a major accident and the repairs would cost more than the value of the car, it would be written off.
In New Zealand, written-off cars must be reported to the NZTA who will then issue a written-off vehicle registration label (WOVR). This label must be displayed on the written-off car when it is sold so that buyers are aware of its history. In most cases, written-off cars are totaled by insurance companies and cannot be legally driven on the road. Write-off car’s cost of repairing it is more than what the car is worth (the market value).
How do they determine if a car is a write-off?
Your car may be written off if it is:
- Extensively damaged in an accident
- Stolen and not recovered
- Badly fire damaged
- Written off by a flood or other natural disaster.
If your car is written off, the insurance company will pay you the market value of the car at the time it was written off. The insurance company will then keep the car. Remember, this will be the market value of your car at the time it was written off, not what you paid for it or what it would cost to replace it.
What should I do if my car is written off?
- If your car is written off, you have three options:
- You can agree to the write-off and accept the payout from the insurance company. Unlike what you paid for your car or what it would cost to replace, this will be its market value at the time it was written off.
- You can try to negotiate with the insurance company to have the car repaired and returned to you. This option is only available if the cost of repairs is less than the market value of the car.
- You can choose to keep the car and arrange your own repairs. The insurance company will pay you the market value of the car and you will be responsible for arranging and paying for repairs. This option is only available if the cost of repairs is less than the market value of the car.
Luckily here we are you can resell your car to us. Taha Auto Group pays top cash for cars in New Zealand. Call Us on 0800 110 396 or fill our online form & get remove your car quickly.
If my car is written off, do I have to pay any excess?
Yes. If your car is written off, you will have to pay the excess that applies to your policy. The excess is the amount you agree to pay towards any claim. It is usually stated in your insurance contract.
Can I buy another car if mine is written off?
Yes. You can use the payout from your insurance company to buy another car. Remember, the payout will be the market value of your car at the time it was written off, not what you paid for it or what it would cost to replace it.
How to sell written off car in NZ?
If you’re looking to sell your written off car in NZ. You can sell the car to a salvage yard or junkyard, which will typically offer you a very low price for the vehicle. You can also try to sell the car privately, but it can be difficult to find a buyer who is willing to pay a fair price for a written off car.
The best option for selling a written off car is to work with a reputable company that specializes in buying and selling written off vehicles. At Taha Auto Group, we have years of experience dealing with written off cars and we know how to get you the best possible price for your car. We will also handle all of the paperwork and logistics associated with selling your written off car, so you can focus on getting the most money for your vehicle. If you’re ready to sell your written off car, contact Sell Off Vehicle today and let us help you get the best possible price for your car.