Wrecked Car Damaged Vehicle Blog

DamageMAX Launches Bankruptcy Liquidation Program

Joseph Coupal - Wednesday, February 27, 2013

Leading buyer of damaged vehicles partners with consumers and lending institutions to provide liquidity in a previously illiquid asset class.

ATLANTA AND NEW YORKDamageMAX announces bankruptcy liquidation program for damaged vehicles. DamageMAX is partnering with credit challenged consumers and their lending institutions to "work-out" damaged vehicles out for repossession or subject to bankruptcy proceedings. When a bankrupt or credit challenged consumer wrecks their automobile, 9 times out of 10 the vehicle turns "upside down" financially.

The accident destroys the vehicle's equity. Even if the vehicle is repaired via insurance coverage, accident history impairs the asset's value. In fact, a "Bad CarFax" report typically results in up to a 16% reduction in selling price - and this is after sinking the money into repairing the wrecked car! To make matters worse, most of these credit challenged consumers either don't carry full insurance coverage or have very high deductibles in an effort to reduce insurance premiums. Because the consumer now owes more that the vehicle is worth, they no longer have incentive to repair the vehicle.

DamageMAX can help lenders and borrowers close the gap in these situations. Without DamageMAX in the equation, the borrower does not have suitable transportation and the lender does not have sufficient collateral. DamageMAX works with lenders and borrowers to buy the damaged vehicle "AS-IS" allowing the lien to be partially or fully satisfied and the borrower to walk away from the asset, possibly with a down payment for a new vehicle.

If you are a credit challenged consumer with a wrecked vehicle, Call DamageMAX now! If you are a lender with impaired collateral, call DamageMAX now! Don't wait - this situation will not work itself out. DamageMAX will buy your wrecked car for top dollar and get you out of a bind. DamageMAX is nationwide and can pay off and pick up your wrecked car within 24 hours.

DamageMAX pays MAXimum value for your Damaged vehicle.

Call 888-629-2137 and email info@damagemax.com for an instant quote!


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