Learn more about how to sell a junk car and what other options you do have.
How Much Money Can You Get for Scrapping a Car?
Selling a car for scrap metal used to be much more lucrative. Today, demand for scrap metal is low while the supply is high. This means the price of scrap metal is fairly low. At one time, people could easily get $500 or more for their scrap car. Today, however, it largely depends on the make, model, and year of your vehicle. The larger the vehicle, the more you will get, and SUVs and trucks just weigh more than sedans, often yielding more overall value. You’ll get more for your vehicle if it was recently on the road.
What is the Best Way to Sell a Junk Car?
If you want to sell your junk auto for top value, you need to get your ducks in a row. First, determine whether you have a clunker. Look at the cost of repairs each month, and compare to the possibility of a new vehicle. If you are paying out $200 to $300 in repairs on a monthly average, you can likely get a newer automobile for the same amount. If your old vehicle doesn’t get good gas mileage, you can really save by upgrading your clunker to a newer vehicle. If the insurance company totaled your vehicle after an accident, citing that the cost of repairs is more than the car’s value, then you have a clunker.
To get top value out of your junk vehicle, you will need to do some research. Check the value of the model with Kelley Blue Book. Then remove all your stuff from the auto, and get your title ready. You will need to transfer ownership of the auto when you sell it, even for scrap, to remove your liability. If you don’t have a title, you will want to ask questions about how the buyer will handle it. Most junk automobile buyers have a process to deal with a lack of paperwork. You will also want to know how to cancel your insurance and plates. Selling your car to a junk auto dealer is an easy process that only takes a few minutes. Usually you just need to call the company, ask for a quote. Then schedule a time to have the company pick up the auto, and they will most likely give you cash during the exchange.
Is ‘Cash for Clunkers’ Still Running?
Cash for Clunkers is a program through the federal government that encouraged people to trade in their old vehicles for cash to purchase fuel-efficient vehicles. This $3 billion program exhausted its funds in August 2009. Although Cash for Clunkers isn’t operating through the federal government, the State of California has a clunker program called Consumer Assistance Program (CAP) that gives automobile owners assistance with emission repair or buys older cars. The state of Texas has a similar program, but Arizona does not. You need to find a private buyer for your clunker in this state, and many others.
What Other Options do I Have?
Selling your vehicle for scrap isn’t your only option, but it does have many benefits. You can always attempt to find a private buyer for your junk vehicle. If your automobile has restorative value, many collectors would pay to take your auto just for the parts. The sad reality is that not many cars fall on that list. Finding a private buyer for your specific model could take time. Although some dealers do take junk cars as trade-ins, they are few and far between. You will likely need to pay for your auto to be towed to the dealer if you find one that will take your car, thus eating into your profit. It’s also probable that you will be locked into buying an automobile from that dealer, which you may not need or want.
You could also sell the most valuable parts of your car. Your auto may be totaled after an accident due to frame damage. The engine, air conditioning system and transmission may still be in working order. These parts are valuable. If you have space, time, and a way to get those parts out of the auto, you can always try to find sellers for specific parts. Just remember that you must have patience to find the right buyer. You’ll be responsible for shipping the parts and storing them until you do find a buyer.
These methods of getting money for your scrap vehicle may warrant you more money, but it will cost you in time and effort. You have to decide what is the trade-off.
Take Care of That Eyesore on Your Property
Scrap cars lose value over time as they rust and deteriorate. Your municipality may even give you a citation for junk in your driveway that compounds over time, costing you even more money. Stop worrying about how to deal with your junk auto. Contact us to sell your vehicle and get cash.