It might be surprising to know that you can make money off a junk car, whether it's an old, rickety vehicle that can no longer transport you from point A to point B, or a much older, rusty item that looks nothing like it. to a car. The trick is to do some research, find out how much it is worth, and see how much other people would pay for it. By understanding exactly what is at your fingertips, you can ensure that you get as much money as possible.
Steps
Part 1 of 3: Prepare the Vehicle
Step 1. Take an inventory of the vehicle
Exactly how "useless" is it? An unusable vehicle is one that is so damaged and beyond repair that the most sensible thing to do would be to sell it for parts. Is it possible to drive the car or is it completely immovable? Pay attention to any areas that show serious damage. Next, determine if there are any valuable parts in your car, such as a GPS system, tires in good condition, or the alternator.
Write down everything you see and observe so that you can give the junkyards an accurate description of the car you want to sell
Step 2. Use the Kelley Blue Book guide to determine the value of your vehicle in good condition
This guide is a well-respected and widely used vehicle appraisal source. Of course, the actual amount you can expect to receive for your car will be much less than the value of the guide, since you have considered it “unusable” rather than in good condition. This is simply a way to get a general idea of how much a new version of the same make and model of car that you are trying to sell is selling for.
If you are knowledgeable about car repair, you can take the price obtained in the Kelley Blue Book guide and subtract all the costs of potential repairs to get a general idea of how much money you could get from selling them
Step 3. Locate the vehicle title
You must have the title to prove that you are the owner of the car. Most junkyards won't buy a vehicle unless you can prove it's yours. When you transfer the title to the junkyard, you will need to sign it to officially get rid of it. If you do not sign the title transfer, you will technically remain its owner even if you no longer want to know anything about it.
Step 4. Remove your personal items
It's easy to forget an old iPod in your glove compartment or a notebook in your front seat pocket. To avoid this, you should open the trunk, check under the floor mats, and slide your hands under all the seats. Make sure you have removed all your personal items from the car before selling it.
This includes the taxi plates. These are easy to forget, but it is important that you remove them from your car before taking it to the depot
Step 5. Check your state's requirements for junk vehicles
As with other vehicle issues, each state's Department of Motor Vehicles (DMV) handles the vehicle surrender process differently. When you're ready to ditch your junk car, be sure to research your state's particular regulations. A quick Google search for "vehicle salvage regulations" and the name of your state will give you a place to start.
Part 2 of 3: Compare Deals
Step 1. Contact different junkyards or junkyards in your area
Remember that you should not do it until you have evaluated the details of the car you will sell. Also, keep in mind that you will need to describe the vehicle in detail, so that they can give you an accurate quote of how much they will pay you for it. Have a list of the different amounts quoted by different junkyards on hand so you can compare your options.
Step 2. Ask the junkyard what their protocol is for transporting junk cars
Some junkyards will dismantle the vehicles themselves. Others will pay you more money if you do it and save them time. Therefore, you should ask them if they pay more in case you can drive the car to their facilities, compared to what they would pay you if they picked it up with a tow truck. Ask them exactly what documents to take with you, and make sure you know the pros and cons of each junkyard.
Step 3. Compare the pros and cons of your options
If you are not desperate to get every last penny for your car, you can choose the option that suits you best. A junkyard on the other side of town may make you a better deal if you take the vehicle to them, but you could go for a lower offer if they are willing to haul your junk car. If you are inexperienced in auto mechanics, it might not be a good idea to try to dismantle it yourself if you want to earn a couple more dollars. Consider which option works best for you, but still allows you to earn a considerable sum of money.
Part 3 of 3: Transfer the Vehicle
Step 1. Drive or tow the vehicle to the junkyard with a tow truck if you feel capable and comfortable to do so
Some junkyards will make you more money if you save them the time and effort and bring the vehicle to them. Also, junkyards will pay more for a car that is still drivable and has been recently driven. So driving it to the junkyard will increase the value of your car.
Step 2. Make an arrangement with the junkyard to have someone pick up your car
This is the most convenient option, since they will go to the agreed address, pick up your car and pay you at that moment. If your car can no longer be driven, this is definitely your best option. After you have gotten offers from different junkyard companies, you can choose the one that best suits you.
- Sometimes junkyards will offer you a price and then reduce it significantly once they have hooked the car onto the crane. This is the reason why it is so important to know the value of your vehicle and defend it.
- Don't fight the tugs for a couple of dollars, but defend the value of your car if you think they are trying to offer you a much lower price than they previously offered.
Step 3. Return the license plates and cancel the registration of your vehicle
The exact protocol changes by state, but generally you must return the license plates to the DMV to unregister your vehicle. The junkyard should have this information, so ask them what is expected of you when you deliver your vehicle. The Internet is also an excellent resource, and your state's DMV website should provide you with the exact procedure for unregistering your vehicle and returning the license plates.