Just because your car is junk doesn’t mean you can’t still get some money out of it, but how do you make sure that you get as much as possible? How do you know that you are getting the best price in the first place?
These are some of the questions we’ll be answering in this article.
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Where to Sell Your Junk Car
The best place to sell a junk car is a junkyard. If the car is not running, some junkyards will offer to come and tow it. Find out in advance if towing is complimentary or if you will be charged a fee.
You may also be able to sell the junk car while it is still on your property and have the buyer come and tow it after you’ve made a deal.
Lastly, junk cars that have reached the end of their viable life can be bought by auto salvage yards. Such cars are usually stripped of all useful parts, and the remaining materials and fluids are crushed. What remains is sold to a local shredder, and the price of such a car will be based on the value of the scrap material that it created.
How Much Will Junkyards Pay for a Junk Car?
The value of your junk car will vary based on several factors. The main ones are generally the current state of the car and its value. If the car is salvageable, the amount that will be required to fix it will come into play. If the car cannot be salvaged, the value of both the parts that are working and the scrap are considered.
Many car dealerships and car junkyards will give free quotes for junk cars. Compare quotes from different dealers and junkyards in order to get an estimate for the value of your junk car.
Junk Car Medics gives an average value of $180 for most junk cars, for example.
How to Get the Best Value for Your Junk Car
In times like these, it is necessary to squeeze out every cent you can from your junk car. Unfortunately, the value of scrap metal has been declining, so that alone won’t leave you with very much money.
The best approach is to sell the functioning parts of your car separately. Of course, this will only work if you have the knowledge, time, resources, and ability to do so. If not, consult a car expert who can help you.
Make a List of Your Car’s Valuable Parts that are in Good Condition
The first step is to strip the car’s parts and list all the valuable ones that you can sell for a good price. The following are some of the parts that you should consider the most:
- Tires that are in good condition
- Alloy wheels that are in good condition
- A/C compressor
- Windshield and other glass
- Doors, hood, and trunk lid/rear hatch/tailgate
- Headlight and taillight assemblies
Find the Parts’ Fair Market Values
Once you list the parts that are valuable in your junk car, put them aside and find the fair market value for each. You can either sell these car parts online as individual parts or sell them to a junkyard.
Finding a buyer on your own can be tedious and could make the process longer but selling this way will give you a better return in the long run.
Sell the Remaining Scrap
Once you have sold the valuable car parts, it’s time to make some extra money from the scrap. The price may be a lot lower without most of the valuable parts, but if you sold most of the parts separately the total amount you will get will be significantly higher.
This is the best way to get the most out of your junk car.