So, you’re thinking about selling your car. Perhaps you’ve had it too long and want to make a little money.
You may want to sell your car and put the proceeds toward getting a new one. This article will outline what you need to know about selling your junk car.
What is Junk Car?
A junk car is a car that has been damaged beyond repair. Sure, you could take it to the shop, but you’ll be paying more money than it’s worth to get it running again.
You may have a junk car from a horrible accident and car crash that leaves you with a worthless heap of metal. The good thing is some people are willing to buy the car with cash.
Junk cars are usually pretty old as well. If a crash didn’t destroy it, wear and tear may have taken a toll. You will probably make a few hundred dollars from selling your junk car.
How to Get the Most Money Out of Your Junk Car
There are a few things to consider when selling a junk car. You’ll need the right buyer, price, knowledge of the law, and location.
Below is a list of everything to consider to ensure you’re getting the most for your car:
· Trust Worthy Buyer
The right buyer is the first thing to look out for when ensuring you get the most money out of your car. Scammers may try to pull one over on you, so make sure you research who you’re going to sell to.
Scrapyards and junkyards are always good places to go.
· Age
How old is the car? The age of your vehicle determines the amount of money you’ll get for it. It needs to be at least 3 years old.
· Paperwork
Providing the correct paperwork, such as the title of the car, will ensure the selling process goes smoothly. Buyers need to know who owns the car since they will not purchase from anyone other than the owner.
· Research the Value
Before selling the car, make sure to do your research. Get prices from multiple buyers and try to come up with an estimate as to how much the damaged car is worth.
· Laws
Know the laws for selling a junk car so you won’t be surprised if something goes wrong. Never tamper with the mileage on the vehicle, and know the maximum amount of money you’ll get back according to local laws.
· Assess the Damage
Sit down and consider all the damage done to the vehicle. This will give you an accurate price. Buyers need to know precisely what is wrong with the car.
· Make and Model
The make and model of a car matters, even when it’s a junk car. You’ll get more money back from a damaged sports/luxury car than a 4-door sedan.
· Current Price of Metal
Be aware that the price of metal has been declining. This will factor into how much you’ll get for the car.
When scrapyards buy your junk car, they’re paying for the scrap metal. Indeed, the buyer may have used some of the vehicle's parts, but the main item is the metal on your car.
The Price You’ll End Up Selling Your Car for
Your vehicle's actual cash value can be received at our car scrap value calculator.
After reviewing all the necessary information, you’ll find that your car is worth anywhere from $300 to $5,000.
If some of the parts of your car are in good shape, you can also sell those. Used engines run from $150 to $700, according to Automotix. The price depends on the age and makes of your car.
Having more parts of the car that work will enable you to get more for the vehicle in return. This is because the junkyard can resell the details to local agencies.
Some of the essential parts of the car are the radiators and transmissions. These parts are high in aluminum and other metals.
Now that you know how to sell your car and how much it’s worth, you can begin researching the right price. Selling your car will prove to be a worthwhile process.
