Trade-in Your Damaged Vehicle
How it works:
Tradeing your vehicle is fast and easy with the DamageMAX Clean Break Trade-in program. Here’s how it works:
- Contact us via phone or email and ask for a quote
- Send us your collision estimate and/or vehicle information via email to info@damagemax.com
- We’ll send you a guaranteed purchase quote for your damaged vehicle good for 7 days
- If you accept, we can pick-up your vehicle and stop racking up those storage charges at the shop
- DamageMAX will back you in a new car purchase using your damaged vehicle as trade collateral - you get the best of both worlds - all the beneifts of trading in your car without all the questions about prior collision damage
If you have an outstanding loan balance, the dealer you select will be able to pay that off as part of your new or used vehicle replacement transaction. We provide you with a Bill of Sale and DamageMAX Purchase Agreement to prove that your vehicle is pre-sold. You may even be eligible for additional allowances + and discounts from your dealer. Since you will be trading your vehicle for the purposes of the transaction, you will benefit from tax savings on the cash difference.
See the example below for details on how DamageMAX can help you come out ahead in the accident:
New Car Purchase Example:
| Negotiated Price on new vehicle at dealer | $19,550 | |
| Less: DamageMAX buys your wrecked car | ($3,000) | |
| Less: Pocket repair check from insurer | ($5,600) | |
| Amount to be financed | $10,950 |
DamageMAX has contracted to buy your damaged vehicle for $3,000. This contract is "assignable" to any new or used car dealer within 7 days which eliminates guesswork & haggling. Instead of repairing then trading, and haggling over prior damage and paint, the dealer will give you a no-haggle allowance of $3,000 for the trade.
DamageMAX empowers you to put a down payment of $8,600 ($3,000 trade-in plus $5,600 repair check in your pocket) on your new car. Your cash due is $0 since you have the DamageMAX Down Payment. This means lower monthly payments for you - it's like getting a raise!
BONUS - YOU save additional $$$ in most states by not paying TAX on the trade-in allowance from your dealer. This is referred to as "Cash Difference" which is the amount you are responsible to pay tax on. There may be additional trade-in allowance & discount available from your dealer that saves you hundreds more! Another benefit of The DamageMAX Clean Break Trade-in Program!
What’s in it for you?
- Significant tax benefits in most states
- No haggling over trade – you have CASH and the trade allowance for a quick, pain free transaction
- Easier finance approval with better Loan to Value ratio with Cash & DamageMAX Clean Break TIP
- DamageMAX Network of dealerships provide additional discounts