The quickest way to make your money would be to fix the damage and then sell it. Even with a salvage title, a clean 4.8is with low miles should fetch some good money.

Parting out is only the better option if you have the time and space to do it. It takes quite a bit longer to make your money with a part-out.

__________________
2003 X5 4.6 | 2000 540i Touring

Formerly owned:
2004 Range Rover | 2000 M5 | 2000 540i/6
1995 750il | 2003 Mercedes S500 | 2003 540i/6