Do you have an old car that you really need to get rid of? Even if it doesn’t run properly, it can still be worth some money. If you’re in the market for a brand new car, you may feel you don’t want to use your old one as a trade-in. While the dealership may very well take your old car and knock a little money off your down payment, you can likely still get more cash if you sell it outright yourself. Here are just a few suggestions on how to make the process work for you.
Selling to a Junkyard
If you need some fast cash and have a junk car sitting in your driveway or one that’s no longer salvageable, one of the first things you should consider is selling to a junkyard. Many local junkyards are generally interested in purchasing cars that are no longer running. Often they want the vehicle to part it out for resale or to utilize all of the scrap metal it’s made out of. If you have a collectible or classic vehicle that you want to get rid of fast, you may get a little bit more cash for selling it to a junkyard than the average vehicle. But in general, most junk yards either pay by the size of the vehicle or one flat rate no matter what condition or year the vehicle is. If you’re trying to find good potential buyers your local junkyard is a good place to call for a quick turn-around. You will need the original clean title to the vehicle, with no liens. From there, after an agreed upon price, the junkyard will come to your house, give you a check or cash and haul the vehicle away.
Parting out Your Car for Auction
Another way to get rid of your vehicle and make some extra money is to part it out and sell it at a local auto auction. Was your car involved in a crash but deemed unsalvageable to drive? If so, it may be sitting in your yard but still be full of salvageable parts that other people in your area could use. You can get a lot more cash out of having the car or its parts auctioned locally. Many auction companies will pick up your car and take it to the auction. It eliminates you having to identify all of the parts and safely remove them from the vehicle. From there, the auction company will list the car or parts online and upload pictures; this is often done for a fee. Once listed, interested buyers will have a general idea of what to expect on auction day. After the sale, the auction house will take their fee and give you the remaining balance of what the car sold for. This is a good option if you have an old classic car or newer model that has a lot of good parts still left on it.
Listing on an Online Marketplace
Getting rid of an older car doesn’t have to be too complicated. Your main goal is to get rid of the vehicle and make some sort of profit if at all possible. The automotive industry is highly competitive, and so is the parts industry. There can be several places where you can buy one particular part, such as a radiator or mini-can hood. That’s why you’ll have to keep your prices in the average range. Study other listings and check the retail price of parts you’re selling as well as the Kelly Blue Book value of the car, pertaining to its current condition. This will help you create a stellar sales ad, and hopefully move your vehicle quickly.
If you feel like your car is something desirable, is a newer model, or has a rebuilt engine and doesn’t belong in a scrap yard, you can try a private sale. This would be selling the car on your property or in a location that has heavy traffic. Many people out and about are often looking for a used vehicle for a really good price. You can sell it below blue book value if you really wish to turn a fast profit. Or you can list it a little higher if you feel it’s worth more. Selling it privately without a middleman will put more money in your own pocket in the long run.
Selling an old junk car or parts can seem daunting. Choose how to sell it based on your experience and how auto savvy you are. Before you know it, you’ll have cash in your pocket in no time!