The Rising Costs of Owning a Vehicle

Posted on November 14, 2022 by junkcars17

If you’re a driver, then you know that the costs of auto repair can be pretty high. But what you may not realize is that the total cost of owning and operating a vehicle can be even higher. In fact, according to a new study from AAA, the average cost of owning and operating a vehicle in the United States is now $8,849 per year.

That’s right – the average cost of owning and operating a vehicle in the United States is now over $8,000 per year. And that number is only going to go up as the years go by. So, what’s driving up the cost of owning a car? Well, there are a few factors. Let’s scroll down to continue exploring this intriguing topic.

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Cost Breakdown For Car Ownership

Gas Prices are Insane

For one, the cost of gasoline has been on the rise in recent years. In fact, according to AAA, the average price of gasoline in the United States is now $2.64 per gallon. That’s up from $2.51 per gallon just a year ago. And as gas prices continue to rise, and so too will the cost of owning and operating a vehicle.

Car Insurance Isn’t Getting Cheaper

Another factor driving up the cost of car ownership is the cost of auto insurance. According to AAA, the average cost of auto insurance in the United States is now $1,555 per year. That’s up from $1,503 just a year ago. And as the costs of auto insurance continue to rise, so too will the cost of owning a car.

Auto Maintenance is Pricey

Finally, the cost of vehicle maintenance and repairs is also on the rise. According to AAA, the average cost of maintaining and repairing a vehicle in the United States is now $1,049 per year. That’s up from $1,021 just a year ago. And as the costs of vehicle maintenance and repairs continue to rise, so will the cost of owning a vehicle too.

Reconsider Buying a Car That is Brand New

So, what does all this mean for you? Well, if you’re thinking about buying a new car, you might want to think twice. The cost of owning and operating a vehicle is only going to go up in the years to come. And that means that your monthly car payment is only going to get higher and higher.

How to Save Money on Car Ownership Expenses

But don’t worry, there are still ways to save money on your vehicle ownership costs. For one, you can always buy a used car instead of a new one. Used cars are often much cheaper to own and operate than new cars. And they can still get you from point A to point B just as easily as a new car can.

You can also save money on your car ownership costs by shopping around for the best deals on auto insurance. There are a number of different auto insurance companies out there, and each one offers its own set of rates and discounts.

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How Long Do Vehicles Last?

Posted on November 3, 2022 by junkcars17

How long do cars last? It’s a question we hear a lot, and unfortunately, there’s no easy answer. Cars are complex machines with many different parts, and each part has its own lifespan. So, when it comes to figuring out how long a car will last, it really depends on a number of factors.

Continue below to learn which factors impact the total lifespan of a car or truck, from the date it is manufactured to the time it has driven its very last mile. Stick around to the end for a bonus tip on how to make the most out of a junk car that is no longer worth repairing!

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Factors That Impact the Lifespan of a Car or Truck

What influences the number of years a car or truck will last after it is built and sold to its first owner? Well, there are a number of variables to consider when estimating this automotive timeline. The first factor is the quality of the car. A high-quality car that’s well-made and uses high-quality parts is likely to last longer than a lower-quality car. The second factor is how the car is used. A car that’s driven gently and regularly serviced is likely to last longer than a car that’s driven hard and not serviced as often.

The third factor is the environment. A car that’s driven in a hot climate is likely to have a shorter lifespan than a car that’s driven in a cooler climate. And finally, the fourth factor is luck. Some cars just seem to last forever, while others have problems early on and don’t make it to their full potential.

So, when you’re wondering how long a car will last, keep these factors in mind. There’s no easy answer, but with a little bit of knowledge, you can get a better idea of what to expect from your vehicle. With that being said, at some point in time your vehicle will be totaled, meaning its current market value is below the cost to maintain it as an operational vehicle. In the automotive insurance industry, this is referred to as a total loss vehicle.

Total Loss Vehicles and Insurance Standards

A total loss vehicle is one that is so damaged, it’s not economical or safe to repair. When a car is totaled, the insurance company pays you the market value of your car minus the deductible on your policy. If you still owe money on the car, the lender will get paid first from the insurance payout. You may be able to buy back your totaled car from the insurance company, but it’s usually not worth it. Total loss claims are one of the most common claims made on auto insurance policies.

If your vehicle is not insured, you can choose to scrap it at a local Indianapolis auto salvage yard and get paid for its actual cash value. You can then put your earnings toward a new vehicle purchase. Not only junk car sales profitable for you as the junk car owner, but it is also a magnificent effort toward one of the most critical global efforts to preserve our natural resources, create jobs, boost the economy, and much more. Just be sure to choose a qualified and reputable Cash for Cars Company in Indianapolis to get the best payout, the most convenient amenities, and assurance that your junk car will be recycled responsibly.

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What You Need to Know About Your Fire Damaged Vehicle

Posted on September 26, 2022 by junkcars17

If your car catches fire, there are some things you need to know about insurance coverage and the claims process. Since there are different scenarios that can cause a car to catch fire, you can expect to come across different limits of coverage and procedure for each. Continue reading to learn some basic information about car insurance claims and coverage in the case that a vehicle is burned down in a fire.

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Not All Car Fires Render a Totaled Car

Car fires will clearly do a lot of damage to a vehicle. In most cases, cars are rendered a total loss after an engine or chassis fire. Fortunately, most insurance policies offer additional coverage for fires. This is called “comprehensive coverage”, and it will cover damages caused by a fire regardless of how the blaze occurred. However, this type of coverage must be purchased before a fire occurs. Some of the most common causes for automotive fires include car accidents, engine fires, garage fires, and arson.

Motor Vehicle Accidents

Motor vehicle accidents are one of the most common causes for car fires. Serious vehicular collisions and accidents can damage fuel lines and fuel tanks, which leads to gasoline leakages. A tiny spark from metal colliding together is all it takes for combustion to happen. This is often the reason why fires break out after a car accident.

In terms of insurance coverage, the answer can be complex. Depending on how the blaze occurred and the parameters of your coverage, the damage could fall under comprehensive or collision. It is necessary to discuss this with your insurance adjuster to learn the details pertaining to your particular policy. If you do not have collision coverage insurance, there is still a possibility that it could be covered under comprehensive.

Garage Fires

In the case of garage fires, which are more common than you think, vehicles can experience a severe amount of damage. Most of the time, they are rendered totaled. Because garage fires are commonly caused by a household hazard or malfunction, people tend to assume that homeowners’ insurance will cover the damages to their vehicles; but the truth is that homeowners’ insurance never covers vehicles. Instead, cars damaged in garage fires are only covered under comprehensive coverage.

Engine Fires

Engine fires generally result in a total loss vehicle. That is because the cost to purchase and install a new engine is often close to the actual cash value of the vehicle. In this case, comprehensive coverage will cover engine fires. However, it is important to know that car insurance policies do not typically cover mechanical defects in car engines. Fires are the exception to this rule. Whether a vehicle is a total loss or not, a car insurance policy will likely pay the actual cash value of the vehicle minus the owner’s insurance deductible.

Arson

There’s not much to say about the criminal act of arson, except that it does happen to vehicles and the damages can be covered by car insurance policies. Comprehensive coverage covers vandalism, so if a vehicle is intentionally set on fire, the damages are covered so long as a police report is made.

Sell a Burned Car in Indianapolis for Cash on the Spot

If your car is damaged in a fire, you likely have a total loss vehicle on your hands. Sell your totaled car for cash on the spot to a local junk car buyer. They will pay you cash for the actual cash value of your vehicle. This is sometimes more than what you can get from your insurance company!

Not sure which Cash for Cars Company in Indy to trust for the highest junk car payout? Contact GC’s Junk Cars at 317-608-2188 to speak with a licensed and qualified junk car buyer about scrapping a burned vehicle in Indianapolis, Indiana. We provide free phone quotes and junk car removal!

Can I Choose to Keep My Car After Totaling It?

Posted on July 25, 2022 by junkcars17

For most, car accidents are emotionally-draining experiences. But with proper insurance coverage, they do not have to be financially-draining. Learn your options for keeping a totaled car, and how to do so without committing fraud with your insurance company.

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When is a Vehicle Totaled?

A vehicle is considered “totaled” when the cost to repair it back to its previous condition is more than the current value of the vehicle. Insurance companies and car manufacturers have stringent procedures and requisites in place to determine these values. With a totaled vehicle on your hands, you may feel like you are at a total loss; however, if you have insurance, you should be just fine depending on the level of coverage your policy provides.

With full coverage insurance, you can expect to receive money from your insurance provider to repair the damages, or to settle the note with the lien holder and cover the cost of a new vehicle of equal current value. If you have liability coverage, you will mostly likely receive less from your insurance provider and have to pay more out of pocket.

Uninsured or Underinsured Drivers

If you do not have insurance, your best option is to junk the vehicle for cash and apply your profit toward a new car purchase. You can do this by contacting a trusted junk car buyer and requesting a free phone estimate. If you accept their offer, they will usually come pick up your vehicle at no extra charge! Only reputable and highly professional junk car buying companies offer this kind of service.

Insurance Claims and Totaled Cars

If your insurance company marks your car totaled, they will take your vehicle and give you a check for the current value. However, if you want to keep your totaled vehicle, you must inform your insurance company. In this case, you can expect to receive less money for the vehicle. If you were to accept money from the insurance company, and then keep your vehicle, you could be found guilty of insurance fraud depending on the specifics of your situation.

Some policies allow people to keep their totaled vehicle, while others include language that does not permit this at all. It is important to talk to your insurance provider and learn the details of what your policy covers and what it does not. Do this before an accident occurs so that you make better decisions regarding what you can do with a totaled car.

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How Much Does it Cost to Tow a Junk Car?

Posted on May 31, 2022 by junkcars17

If your auto insurance policy doesn’t include a roadside assistant perk, you may be left to pay for junk car towing yourself. Continue reading to learn the average rates for towing a wrecked, junked, or totaled car to an auto salvage lot, plus how you can get the best deal on salvage towing in Central Indiana.

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Junk Car Towing Fees

Most junk car companies provide towing service and include the cost of the service in their offer or final payout. So, it is unlikely that you will find a buyer that requires you to make your own towing arrangements. However, be prepared just in case. Research the average towing rates among the local businesses in your area so that you have a base understanding of the market. You can use these local rates as a comparison when asking about the rates offered by junk car buying companies.

Junk car companies use different approaches to junk car removal towing. Some companies have their own tow trucks, while others use a middleman operation to tow junk cars to their lot. Either way, junk car companies that charge a fee for junk car removal will adjust their rates based on the cost for them to provide towing. After all, they are in business to make money. As a result, junk car towing fees are usually high.

Average Cost to Tow a Junk Car

The average rate to tow a vehicle to an auto salvage lot in Indianapolis using a private towing service will depend on the set rates for the business, the location of your vehicle, and the type of vehicle you are scrapping. On average, you can expect to pay anywhere from $75 to $250 to tow a junk car to an auto salvage yard. Smaller cars that are closer to the destination will cost less to tow than large cars that are father away, and so forth. The level of difficulty to access the car for towing will also have an impact on the towing fee.

Junk car companies charge much less the private towing businesses. You can expect to be charged anywhere between $25 and $80 for junk car towing through a Cash for Cars company. However, the same factors used by private towing businesses are used by junk car companies to generate an offer for a junk vehicle. So, if your car is far away, difficult to access, and low in scrap value, you will be offered a lower payout. Upon your payout, junk car companies deduct a towing fee.

How to Get Free Junk Car Removal in Indianapolis

There is a way to avoid paying for junk car towing in Indiana. Choose GC’s Junk Cars as your Indianapolis junk car buyers! We provide FREE TOWING for junk cars, trucks, motorized vehicles, boats, and more! Best of all, we pay CASH ON THE SPOT!

As a leading Cash for Cars Company in Central Indiana, we are well-established and sustain the necessary capital to provide the MAXIMUM PAYOUTS for junk cars, plus convenient, cost-efficient amenities, like free offers and free junk car removal! We can offer free towing because we have our own, in-house tow trucks, which means there is no middleman in our junk car selling process! You get paid more and charged less when you sell a junk car in Indianapolis to GC’s Junk Cars!

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The Only Papers You Need to Keep in Your Car

Posted on April 15, 2022 by junkcars17

There are many important documents that need to be saved and kept in a safe place. Things like your passport, house deed, birth certificate, Social Security card, mortgage agreements, and similar paperwork are best-kept at home, preferably in a safe or locked file cabinet, or in the safety security box. However, there are some documents that should be kept in your car and not in your house or office.

Continue reading to learn which documents should and should not be kept in your car.

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Important Car Documents to Keep Inside the Vehicle

Proof of Insurance

Whether you are stopped for routine traffic violation or involved in a minor car accident, the very first thing that will be asked of you is proof of automotive insurance. It is the state law to have minimum liability insurance coverage for vehicles that are actively driven. Whether your automotive insurance company provides you with an insurance card or a packet of documents, it is important to keep that information inside of your vehicle at all times. If you are stopped by law enforcement while driving and you do not have proof of car insurance on you, you will be penalized.

Car Registration

The other important document that should always be kept inside of your vehicle is the car registration. The law requires all driven vehicles to be registered with the state. It is typically a long rectangular document made with the thicker paper. Store it inside of your glove compartment or in a durable, preferably zip-up, folder under your seat. Driving without your car registration on you can put you at risk of being ticketed by police in the case that you are ever pulled over or involved in a car accident.

Roadside Assistance Card

Although optional, it is a good idea to keep your roadside assistance card in your vehicle for emergencies. If you are not a paying member of a roadside assistance program, keep any local or statewide roadside assistance company contact information in your car.

Leave These Car Documents at Home:

Title

There are some car documents that should never be kept inside the vehicle, and your title is one of them. Always keep your car title a home in a safe location. If you lose the car title, you can subject yourself to the risk of identity theft or loss of certain rights to your vehicle. If you have lost your car title, or it has been stolen or damaged, you can apply for a duplicate title at your local BMV.

Car Payment Paperwork

Any paperwork that pertains to your car lease or car financing plan should never be kept inside the vehicle. If you are making payments on your vehicle, don’t keep this information in your car. Again, it can be used for identity theft purposes or even pose the risk of mistakenly missing payments.

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How Does the Total Loss Process Work for a Wrecked Car?

Posted on February 28, 2022 by junkcars17

When your vehicle is damaged beyond repair after a collision or traffic accident, the insurance company will label it a total loss. Additionally, your vehicle can be deemed totaled by your insurance carrier if the cost to repair it exceeds its current market value. If you have recently wrecked your vehicle, continue reading for a brief explanation on how the total loss process works for a wrecked car, plus how you can earn cash for a totaled car if it was not insured at the time of the wreck.

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What is a Total Loss Vehicle?

A total loss vehicle is any car, SUV, truck, van, or motorized automobile that is so far damaged that the cost to repair it is higher than what the vehicle is valued at by the current market. So, let’s say that your wrecked car has a current scrap value of $2,400. If the cost to repair your wrecked car back to its original condition prior to the accident or collision is higher than $2,400, your insurance company will categorize it as a total loss. At this point, a few things will happen.

The Process of Filing a Total Loss Claim

The process of filing a total loss claim for wrecked car will vary depending on whether you own the vehicle or if you’re leasing or financing it. If you own your car, you can expect the total loss claim process to commence as follows:

File the Claim

First, you will report the claim to your insurance company the same day as your accident, or early the next morning. Simply give them a call (you can find the number on the back of your insurance car, within your insurance documents, or on an online directory) and tell the representative what you are trying to accomplish. They will place on the path in the direction you need to go.

Complete an Insurance Adjuster Inspection

This can depend on your particular insurance carrier, but in most cases of car accidents, the next step in the total loss claim process is to schedule an insurance adjuster inspection. This generally takes place within one or two days of the accident. Your insurance company does this to ensure that the automotive repair shop that does the damage estimate provides an accurate assessment and for the claim-related damages. This step prevents insurance fraud and deductible errors.

Rent a Car

Your insurance company may offer free rental car benefits under your policy if you file a claim for a totaled vehicle. Check with them to see if you are eligible for such benefits or if similar amenities are available to you.

Finalize the Claim Settlement

A few days after the insurance adjuster evaluates the damage to your vehicle and investigates the claim, you will be offered a settlement. In this step, you will review and finalize your total loss car insurance settlement by accepting the offer.

Locate the Car Title

After you accept and finalize the car insurance claim settlement, you will likely need to locate the car title so that you can give it to the insurance company.

Prepare Your Car for Pickup

Before you can get paid, you will need to release your wrecked car to the insurance company. Just be sure to take out all of your personal belongings and remove the license plate. When the tow truck arrives to collect your vehicle, you will need to sign some paperwork and sign over the car title.

Take Your Payment

One or two days after you release your wrecked vehicle to the insurance company, you should receive some final paperwork along with your insurance payment. This step might be done electronically, in person, or through mail. Now you can go buy another car!

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What You Need to Know About Liability Car Insurance Coverage

Posted on January 10, 2022 by junkcars17

If you have just bought or received a new car you plan on driving, you will need car insurance. How much car insurance coverage you need depends mostly on what the state requires, but also your personal preferences, namely budget. Most states, including here in Indiana, require that all drivers maintain automotive liability insurance coverage at all times. This is known as the state-minimum for car insurance coverage.

Continue reading to learn some important facts about car insurance liability coverage that can help you better understand your options.

Liability Car Insurance Coverage Facts

Automotive liability insurance coverage is a type of car insurance coverage that only covers another person’s bodily injuries and property damages. The owner of the liability insurance policy is not covered. Let’s dive into this little further.

There are two types of liability car insurance coverage: bodily injury liability coverage and property damage liability coverage. Drivers are required to have both kinds of coverage at all times to operate a motor vehicle, legally.

▶ BODILY INJURY LIABILITY COVERAGE (BI) = Bodily injury liability car insurance covers another driver’s injuries, including their medical expenses and hospital bills.

▶ PROPERTY DAMAGE LIABILITY COVERAGE (PD) = Property damage insurance coverage pays for another driver’s automotive repairs, or for a new vehicle if the car is totaled.

Coverage Limits for Liability Car Insurance Policies

Although automotive liability car insurance covers another driver’s bodily injuries and property damages, you could still be responsible for paying out-of-pocket if the total cost exceeds your policy’s coverage limit. The state does set a minimum limit, but when you are purchasing car insurance, you can choose your own limit.

Let’s say you cause an accident, and the total cost of the of the driver’s medical expenses and property damages totals out to $25,000. Your insurance carrier will cover this cost so long as your coverage limit is at least that amount. If your coverage limit was only $20,000, you would be responsible for paying the remaining $5,000 out-of-pocket.

Your Bodily Injuries and Vehicle Damages

Under an automotive liability insurance policy, your own bodily injuries and property damages are not covered. The only parties covered are other drivers harmed in the accident. For this reason, it is strongly recommended to add collision insurance coverage to your liability insurance policy. Collision coverage would cover your bodily injuries and property damages in the case of an accident, but it would also come with a coverage limit. You can choose your coverage limit based on your budget and how comfortable you feel paying out-of-pocket in the case of an accident.

Comprehensive Insurance Coverage

Collision automotive insurance coverage does not cover other types of vehicle damages outside of motor vehicle accidents, such as a tree falling on your car or hail damage. If you want these types of damages covered, you will need comprehensive automotive insurance coverage.

Have you totaled your vehicle but only have liability insurance coverage, leaving you with no means to pay for repairs? Contact GC’s Junk Cars at 317-608-2188 to sell your junk car in Indianapolis, Indiana for cash on the spot! We provide free junk car removal, so we come to you!