Can I Sell My Car To Pay The Impound Fees?

Your Car May Be Worth More Than The Bill Holding It Hostage

Here's a frustrating financial puzzle: your car is sitting in impound, the bill has climbed to $2,400, and you have about $300 available to deal with it. Meanwhile, the vehicle behind that fence may be worth $11,500.

So what are you doing? Calling relatives? Checking credit-card balances? Wondering whether the electric company will notice if you're a little late this month?

There may be a better question to ask:

Can the car itself help solve the problem?

For some owners, retrieving an impounded vehicle just so they can turn around and sell it makes very little sense. If you already wanted to get rid of the car, or the impound situation has convinced you that now is a pretty good time, coming up with thousands of dollars simply to move it from the tow yard to your driveway may be an unnecessary financial detour.

You Have An Asset Sitting Behind That Fence

An impound bill has a funny way of becoming the only number an owner sees. It's urgent, it's growing, and somebody wants it paid. But don't forget about the other number: the value of your vehicle.

Consider this hypothetical example:

Obviously, that doesn't mean an owner automatically receives $9,100. There could be an outstanding auto loan, additional charges or other obligations involved. But it does demonstrate why the vehicle's value needs to be considered before you start borrowing money.

You have an $11,500 asset sitting behind a fence, yet you're trying to figure out which credit card can absorb another $2,100.

Maybe the car should be helping solve the problem instead.

Why Pay To Retrieve A Car You're Planning To Sell Anyway?

Suppose you somehow come up with the money. You pay the impound charges, retrieve the vehicle, drive or tow it home, clean it up, photograph it, advertise it and begin dealing with potential buyers. You may eventually sell it. But if selling was the ultimate destination anyway, it's reasonable to ask whether there was a shorter route.

Selling an impounded vehicle isn't necessarily as simple as putting an ad online and telling a buyer where to find it. The tow facility has possession of the vehicle, charges may be outstanding, ownership needs to be established, and an existing lender or lienholder may have an interest in the vehicle. That's precisely why handling the situation before the bill gets larger matters.

Don't Let A $2,400 Problem Become A $3,000 Problem

One of the worst financial strategies with an impounded vehicle is waiting until you have enough money while storage charges continue accumulating.

Maybe you'll have the additional cash next payday. Maybe you won't. Either way, the vehicle is still sitting there. And while you're trying to catch the bill, the bill may be busy moving away from you.

If you already know you don't want to keep the vehicle, that waiting period can be especially painful. You're spending, or preparing to spend, more money to recover an asset you're planning to sell. There may be another option and you’ll definitely like it!

This Is Exactly Where OUTPOUND Comes In

Depending on the vehicle, its condition and value, ownership documentation, lien status, tow facility and individual circumstances, OUTPOUND may be able to purchase an eligible vehicle directly from impound.

Instead of automatically assuming you must pay the entire bill, retrieve the vehicle and then figure out how to sell it, contact our team first and let us look at the situation. The earlier you reach out, the better. Get the current amount owed from the impound facility, gather your vehicle and ownership information, and find out what options may still be available.

Your car may be the most valuable thing in this entire financial mess.

Before borrowing money, maxing out a credit card or letting another week of storage charges pile onto a vehicle you don't even want anymore, contact OUTPOUND.com.

The thing sitting behind the fence creating the problem might also be the thing that helps you get out of it.