How To Get The Most Cash For a Junk Car
Do you have an old clunker that you need to get rid of, but you want to make sure you don’t just give it away? Believe it or not, that old junk car is worth something, and you can use it to put some extra cash in your pocket. There are some things that you can do to make sure you get the most cash possible for your junk car. Follow the tips outlined below and your wallet will thank you!
Keep an Eye on The Scrap Metal Market
One of the biggest things that affects the prices of junk cars is the scrap metal market. Much like the stock market, scrap metal prices change constantly. These prices are affected by many things like how much scrap is available, how much steel other countries are producing, how strong the economy is, and many other things. The higher the price of scrap metal, the more you can expect to receive for your junk car.
Unfortunately, scrap metal prices are extremely low right now. Scrap steel is worth only about $0.01 per pound, although aluminum and copper are worth more. These metals can bring anywhere from $0.25 to $0.50 per pound. But remember that these prices can change from day or two. Obviously, don’t expect to see a huge spike in prices from one day to the next. However, you can look at weekly trends and try to catch the market in an upswing before selling your scrap car.
Sell Sooner Than Later
Letting your old car sit in the weather and deteriorate will only decrease its value. If the car still has some usable parts, then you might reasonably get $500 or even $1,000 for it. Things like the windows, trim, interior pieces, and other valuable parts can be removed and sold to people who need those items. That is, as long as they are in good working condition. The longer the car sits, the fewer working parts it has left. Once it deteriorates to a point where there are no usable parts, then it will only be good for scrap. If you want top dollar for your junk car, then try to sell it while some of the parts are still in good shape.
Get Multiple Offers
When selling anything, it is always best to have multiple options to see which offer is the best. Selling a junk car is no different. Call around and get multiple offers to buy your vehicle. You might talk to the local junkyard, a salvage yard, and a nationwide car buyer. While all the offers may be in the same ballpark, an extra $100 or so could make a huge difference in your pocket. By calling around and getting multiple offers, you can be sure that you are getting the most money possible for your vehicle.
When talking to various buyers, make sure that you take everything into consideration. For instance, you may talk to a nationwide car buyer who offers slightly less than the local junkyard, but the car buying service offers free towing. A towing bill could set you back $200 or more depending on how far it is to the junkyard, so be sure to factor this into the offer! You want to net the most cash in your pocket after all considerations - not just the price of the vehicle.
Part It Out Yourself
This option is a little more difficult and might take more time, but it is a great way to put more money in your pocket. Try selling the usable parts from your vehicle on your own. If you are able to part out the car and find buyers for most of the parts, you could greatly increase the amount of money you get for the car. Remember though that this will require some work on your part to remove those parts, and it could take a lot of time to find buyers for each part. If you’ve got the mechanical know-how and the time to wait, it can be a good option for increasing the amount of cash you get.
If you’ve got an old junker sitting around taking up space in your driveway, then use these tips to sell it and put some extra cash in your pocket. Selling a junk car is fairly easy, but getting the most money possible for it can take a little research. Now you are armed with the knowledge you need to bring in top dollar for your old clunker. You very well could get enough for a down payment on a new ride!