You have this old or extensively damaged car that you’ve held on to for a while. You’ve been wondering if it’s worth anything and how best you can dispose of it. You can tell repairing it’s not cost-effective, and there's no benefit in keeping it. But that junk of a car that seems to have no value can fetch you a good amount of cash. That is, should you choose to sell it instead of letting its condition continue deteriorating.
Actually, selling your junk car can start with research of your local area to find junkyards that are ready to take it. Depending on its make, model, and current condition, you might be able to make money out of it. However, you won’t get a good deal if you don’t have a plan. You’ll need to have at least an idea of how to go about the sale.
Follow these tips and steps to learn how to sell a junk car for a reasonable amount and both operable and inoperable conditions.
Organize Your Car’s Paperwork
Before you can sell your junk car, you’ll need to get its necessary paperwork in order. This includes the title that proves you are indeed the junk owner and that you have the legal right to sell it. For you to get cash for your clunker, ensure that you’ve checked the regulations in your state for selling junk cars and salvaged vehicles. Each state has different regulations and guidelines on how to sell a junk car.
If the title is lost or misplaced for any reason, ensure you obtain a replacement from your local Department of Motor Vehicles (DMV). Also, ensure there are no outstanding amounts on the car if you bought it through a loan. If you’re still repaying the loan, ensure to involve your lender to work out the sale.
You can also get a document with the vehicle’s history to have all the information ready for buyers before the purchase.
Groom The Car
If your junk car is just old, you may not need to do much to make it more appealing to a buyer. It’s advisable to clean the car well before the sale while paying attention to the type of buyer you want to attract. You may not need to do much for junkyards can salvage cars, but if you’re selling an operable junk car directly to a buyer, spruce it up a bit.
Remember, the aim of grooming the car is to ensure you get the best price possible for it, not for asking an unrealistic price on it.
Advertise The Car
Although a junkyard is an excellent place to sell your car, it’s not the only place. You can try to make direct sales through traditional local classifieds such as Craigslist or online on social platforms. This is especially worthy if you’ll get a better deal this way.
There are also numerous online sites where you can find buyers and sellers of salvages, junks, or old cars. Such sites allow you to advertise, set a price and deal with the prospective buyer on or off the site. Ensure to observe safety while making deals online so as not to get scammed. Follow these tips to avoid online scams and danger:
- Profile the buyer: Ensure the buyer is ready to talk on the phone rather than email or text. Many scammers like to hide behind email accounts and disappear if you insist on a phone chat.
- Only accept cash: This will keep you from receiving bounced checks after you’ve already given your junk car away.
- Be calm: Most scammers prey on a seller’s eagerness to sell or close a deal.
- Meet them in a safe area: Avoid meeting strangers in your home or office. Always make it in a public place where there’s surveillance. It’s also good to bring a friend with you.
- Keep off a buyer who doesn’t keep their word: If the buyer always seems to have different stories every time, avoid them as they may be trying to get you confused and scam you.
To get the most out of the advertisement, consider including some photos of your car. It may be a junk car but allowing potential buyers to see its actual state may help in attracting the right buyer.
Dealing With A Junkyard
When your junk is stalled, junkyards are the best places to sell it. If there’s still some value in it, a junkyard will gladly buy it. The price depends on the car’s current state, its make and model, and the year it was manufactured. Also, if the car has more complete and functional parts still intact, it’s likely to fetch a better price.
Arrange A Pick-Up Time
Fortunately, most junk or salvage yards tow junks for free. You can work with them on the best time to come and collect the vehicle. Most of them work quickly to pick up the junk car the same day or the next day. Even though pick-ups by the salvage or junkyards are convenient, you might lose a few dollars, depending on their policy.
You get a slightly higher price if you deliver the vehicle to them instead. But, the convenience of them toeing it themselves is definitely worth it.
Receiving Payment For Your Junk Car
Ensure the buyer pays the negotiated price when they’re collecting the vehicle. Most junkyard dealers exchange the money for the car without any attempts to renegotiate. Be careful about any dealer or buyer who tries to renegotiate when the time comes to pay for the car.
Notify DMV Or Your Insurance Of The Sale
Ensure to notify the DMV that you no longer own the vehicle. You can do this either online or by visiting your local area office. If there’s a need to inform the insurance company, do that as well.
Finally, note that you need to remove your car plates before giving them away or transferring them to your new car.
As impossible as it seems learning how to sell a junk car isn’t too difficult. Through planning and understanding how to gain interest from the right buyer, you can obtain a reasonable price for your junk car.