5 Ways to Save Money on Car Repairs After an Accident

A car accident can be expensive, but it is possible to save money after a car accident on repairs. According to the National Highway Safety Council, in 2017, dealerships had over 316 million repair orders. Some of those repair requests were due to accidents. How can you save money after a car accident? Here are five tips.

1. Do the Math

If you have a good auto insurance policy, you will still have a deductible that you need to meet for collision repair. According to MotorBiscuit, about 20% of collisions happen in garages and parking lots with minimal damage. When you are in a fender bender with less than $500 damage, you need to consider if it is worth going through your insurance, and here is why. When you have an accident and file a claim, there is the risk that your insurance rates will increase.

Paying out of pocket for minor repairs may be the better financial option. You will have to pay out of pocket if your deductible is $500 or above. Alternatively, you can opt for a lower deductible, but you will pay a higher premium. Additionally, having a reliable tow trucking company to use is just as important. Many towing companies charge excessive fees, so finding one that offers fair pricing upfront can save you from being overcharged during an already stressful situation.

2. Shop Around

Don’t go with the first repair quote. Shop around. The difference in pricing can be hundreds of dollars. Ideally, if you want to save money (because everyone does), you should get three quotes from three shops. Shopping around for the best value can save money.

Each independently owned shop controls its pricing. Some shops are willing to do the work for less of a markup than others. Shop and compare to save.

3. Negotiate

Many people make the mistake of not negotiating the price of car repairs. If you want to save money, negotiate the cost of repairs. Most locally owned auto repair shops are small businesses, meaning they don’t have a corporate office overseeing the pricing. It is okay to ask the shop to work with you on costs.

If one shop isn’t receptive to negotiations, go to another. Negotiating the price can help you save money. Even if you save $50, it is still a savings. Don’t be afraid to ask for a better price.

4. Let Go

In some cases, the vehicle is not worth fixing. Yes, it can be hard to let go of your vehicle, but sometimes it makes better financial sense not to repair it. For instance, if your vehicle was already on its last leg and needed serious mechanical repair, it’s not worth fixing the body damage. If your vehicle has over 150,000 miles, consider whether investing money in body repair is worth it.

Look up the Kelley Blue Book value online. You may need to let the vehicle go if the repairs outweigh the value. You want to avoid throwing out and wasting money.

5. Understand the Full Scope of Damage

You must understand the full scope of the damage. Often, the damage you see is just the tip of the iceberg, and there is underlying damage. Saving money is important after an accident but never at the expense of compromising safety. In other words, a cheap patch job that doesn’t address underlying damage is unsafe. It is better to spend a little extra money now instead of taking safety risks that can be much more costly in the long run.

One of the best ways to save after an accident is to educate yourself. Being a savvy consumer, even for vehicle repairs, is an easy way to save. Did you that driver error accounts for 25% of truck accidents? This is according to the NHTS. In cases such as a truck accident and the driver is at fault, you should not have an out-of-pocket expense.

These are just a few things you should know about saving money on car repairs. Accidents can be scary but knowing what to do afterward can be beneficial for you and your wallet.