Put yourself in the best position to get the most out of your salvage
Do you have a salvage semi truck you want to sell, but are not quite sure where to start? Selling your salvage for the best price requires research - and we’ve got a few tips to help.
Find a Licensed Salvage Seller
The first step to selling your salvage semi truck is finding a licensed salvage dealer. The dealer can be either local or online. However, the most important factor when choosing where to sell your damaged semi truck is finding a salvage seller that offers reliable customer service, fair rates, and is licensed and insured.
To start, check out customer review sites too and don’t hesitate to get to know the salvage dealer’s team. This will give you a good idea of what salvage dealers you want to work with and the ones you don’t.
To start, check out customer review sites too and don’t hesitate to get to know the salvage dealer’s team. This will give you a good idea of what salvage dealers you want to work with and the ones you don’t.
Gather Semi Truck Information
Once you find the right salvage seller, start gathering the information you’ll need as a seller. Having this information not only helps to make the selling process easier but also ensures you are getting the best quote. The information you may need when selling your salvage big rig may include:
Many salvage companies will also ask for the truck’s actual cash value (ACV). This is very important in getting the best quote for your semi-truck salvage. If you need help finding this information, reach out to our trusted team at Heavy Salvage - we offer 24/7 support with your questions and needs.
Calculate Your Truck’s ACV
The actual cash value of your wrecked semi-truck is how much it’s worth in its current condition, or the amount you could reasonably expect to get for it if you sold it today.
When determining the value of your salvage big rig, your ACV will take into account the depreciation of the truck. Depreciation is determined based on multiple factors, including mileage, wear and tear, and accident history.
The year, make, and model also affect how much a truck depreciates because some trucks can hold their value better than others.
To calculate the ACV, take the replacement value of the semi truck and deduct the depreciation of the truck after the truck’s purchase. Most insurance companies will aggregate your vehicle’s information to calculate the truck’s ACV.
If you want to get started assessing your truck’s ACV, let us help. With our partnership with AdjustRite, we can help you with additional research in getting the best quote for you.
If you disagree with the insurance company’s estimate of your semi truck value, you may be able to negotiate for a higher payout. But before you do, it’s a good idea to gather evidence and research to support your claims.
Prepare Sales Paperwork
After gathering the information you need for selling your semi truck salvage, start preparing any sales paperwork you may need once your truck is sold. To start, understand your local laws and restrictions when selling big rig salvage, as some states require a Tax ID and/or business license to sell.
You’ll need specific paperwork to transfer your vehicle’s title to the new buyer, plus,, once your wrecked semi-truck is sold, make sure you notify the Department of Motor Vehicle and insurance company, if applicable, that you've sold the vehicle. As you prepare your paperwork, research any additional fees and commission charges that may be required.
Sell with Heavy Salvage
Selling semi truck salvage can seem intimidating at first, but with the right resources and support from a company you trust, the process is much easier. Heavy Salvage offers the industry’s most trusted system of selling transportation salvage. Through our nationwide pool of verified buyers and 24-hour customer support, we go to great lengths to ensure selling salvage is easy.