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Wondering How Can I Get The Most Money For My Junk Car?

Wondering How Can I Get The Most Money For My Junk Car?

Have you heard the old adage “One man’s junk is another man’s treasure”? I’d like to take this one step further and proclaim “One man’s junk car can be that man’s treasure!”. That’s right – your junk car is worth good money and can bring you unforeseen treasures! There are places near you that will provide you cash for your junk car – today. The real question is: What are you waiting for?

To the average driver, a car is a tool, necessary for performing the tasks of daily life – like getting the kids from school or driving yourself to work. Once this ability to take on daily life is gone – the car becomes useless! However, even if you think your car isn’t worth a cent, it has value and reputable companies are ready to pay you cash for this value. Rather than a whole, a junk car is valued based on the sum of its parts. Valuable parts, scrap metal and even rubber components can be repurposed and recycled for cash!

Whether it be from floods, fires, hail or a severe accident – there are a number of reasons why someone would want to sell their junk car. Some of these reasons are quite a bit less severe than others but still can leave someone with a car that is completely undriveable and far too expensive to get back on the road. As stated above, this is the story of a junk car but rest assured, there are many ways to get the most money for your broken or junk car.

How Does A Car Become Junk?

So what are some of the reasons behind why our cars can be considered “junk”?

Break-Downs/Mechanical Issues

None of us leave for work in the morning thinking that our car is about to hit the skids and die on the side of the road, however, this is a reality for many people! No matter what we do to make sure our cars are running in tip-top condition, a major mechanical issue can truly happen at any time.

According to Haynes, small components such as the Catalytic Converter can run anywhere from $1700 to $2000 while an automatic transmission can run from $4000 to $5000. A simple head gasket job can be over $1500. Modern cars have over 50 computers within them to control everything from emissions to vehicle entertainment systems. These systems can leave a car immobile after failure and can rack up repair bills well into the thousands of dollars!

When your car breaks down in such a manner that you begin to question whether or not to repair it – you need to ask yourself some key questions. Will this repair cost more than my vehicle is worth? What other repairs are looming in the future? Is it time to junk my car and cut my losses?

Natural and Man-Made Disasters

Did you know that there are over 6 million accidents in the United States every year? Yes, 6 million! After an accident, if you have the proper coverage, your insurance will pay for damage to your vehicle and whatever other vehicle you have hit after payment of a deductible. Deductibles average out around $1000 but can be as high as $2000! Depending on the type of vehicle you own and the type of damage incurred, there may be several reasons why fixing it just does not make sense.

Accidents where no one else is involved make up a wide number of the total number of accidents that occur in this country every year. These can be anything from running into a deer or swerving to avoid an accident and slamming into a tree or curb. Now you have a car that is completely trashed and requires extensive repairs to get back on the road. If you turn the accident over to the insurance company, you face a rate hike in the range of 43% for a single accident or 91% if it’s not your first accident. Wow! If your car is not a valuable car (monetarily) then you will need to carefully weigh whether fixing it is a good idea or not.

Mother nature is absolutely not to be trifled with and no object in this world knows that better than our beloved cars. Every year, hail causes billions of dollars of damage to cars all across the Midwest and beyond. Floods in Texas caused the loss over 300,000 vehicles! That was one storm (Hurricane Harvey) over the course of one week and over 300,00 cars were gone. Flood damaged vehicles, no matter what, are almost always considered junk due to the incredibly wide range of damage that can happen due to water. This is only scratching the surface and if you are reading this article, you may have your own horror story.

Ok, so my car is junk, how much can it be worth?

How Much Money Can I Get For My Junk Car?

The answer to this question is about as complex as the modern vehicle is! There are literally hundreds of considerations that can either add or remove value to your junk cars cash value.

Here’s a brief list of some of the considerations that can determine your cars value.

Vehicle Type/Style: A broken old muscle car from the 60’s has a much higher value (even as a junk car) than a cheap sedan from the 90’s! You need to do some internet research and understand the potential value of your car based on the vehicles rarity or potential for aftermarket upgrades. This question can also help you determine where you can get the most money for your car!

Type of Issue: How broken is your car? Is it smashed beyond recognition in an accident? Is it a major mechanical issue? These questions will help you determine just how much of a hassle it will be for a potential buyer to get your junk car back on the road.

Truly, a junk car can vary in price from its pure scrapped value ($300 to $500) to several thousand dollars if it has salvageable parts, rare metals or valuable components. Many junkyards will crush a junk car and then sell the metal for scrap if the car has no other discernible value (again, think muscle cars). It’s best to know what you have before even thinking about junking it!

Check out this website that goes into detail on the raw price of steel scrap. This is (roughly) the price a junkyard will get for YOUR car. Remember, the junkyard will want to turn a profit as well; so this number can be substantially less when it eventually hits your pocket!

How Can I Get The Most Money For My Junk Car?

So you’ve made the BIG decision to get rid of your junk car and you’re confused about the best way to get the most money for your old or junk car. I don’t blame you! The modern world is full of options to get rid of your junk car near you but not all of these methods are ideal. Some may bring you more money but involve a massive hassle. Some may work quickly but at the expense of losing hundreds of even thousands of dollars. Then there are methods that truly provide a reasonable balance. At the end of the day, it really comes down to what is best for each individual seller. So, let’s dive into the best ways to get rid of a junk car near you.

Craigslist

If you are going to consider selling your car through a local site like Craigslist, you need to be keenly aware of the dangers and pitfalls of doing so. Criagslist is full of buyers who are looking for junk cars as projects. They will low-ball you on price, saying that this or that is wrong, with the intention of fixing the car and selling it to another person for a profit. You have to handle all the DMV paperwork and ensure that buyer is ready to go with cash, while also ensuring that a buyer isn’t going to outright steal your car. I know this because it happened to me! Cashiers check fraud is also a major concern and the uninitiated can be taken advantage of promptly.

Some of the tactics buyers will use include sob stories (like telling you they just had a death in the family), over exaggerating what is actually wrong with a vehicle or stating things are wrong with the vehicle that actually are not! Craiglists is really more of seller AND buyer beware since so many people are ready to take advantage of the situation and you!

You need to really weigh out the risks and benefits here. Sure, you may get a little more for your junk car – but what is that really worth?

Junkyards

A junk yard is a decades old business that encourages people to sell their cars to them for rock bottom pricing so they resell parts and earn a profit. Oftentimes buyers are forced to transport the car to the local junkyard, only to have the workers of the junkyard grind them down on their offered price – even after receiving a verbal offer over the phone! Since it’s not cheap to transport a car to a junkyard, sellers are often resolved to just take whatever low-ball price is offered in order to stop dealing with the hassle! Can you imagine the hassle and money required to move your vehicle via tow-truck from one yard to another! Ugh! What a hassle!

Dealer Trade-In

The automotive dealership model is another decades old scheme to take vehicles in for the lowest price in order to turn a profit. A dealership will usually take in anything (running or not) but typically only if the car is in working condition. They will then employ the same tactics as a junkyard or private buyer and proceed to grind you down on the price in order to sell it and make a profit. The middle man is always going to take money out of your pocket and the dealership knows this! Also, be ware of ‘bait and swich” tactics that encourage you to come down to a dealer on a verbal promise that turns out not to be true.

“Parting Out”

Maybe you think you’re going to “part out” your junk ride and sell the parts on eBay or other auction style sites. Maybe you’ll become your own junkyard! Think again. This is a very unique business that has very unique buyers and unless you’re an automotive mechanic – this is a difficult process that will be more hassle for the average person than it could ever be worth. Even if you are a savvy mechanic or think you can learn how to be one in a short period of time, there is an incredible amount of time, effort and resources needed to properly part out a junk car.

What About Selling My Car to Cash Cars Buyer?

You can see above that the process of selling your junk car can be troublesome and may cost you in both time and dollars. Luckily, Cash Cars Buyer is available to offer you a trouble free way to get a fair price for your junk car! Based on the vehicles make, model, year and condition – we will offer a fair price. Once you accept the offer – that is the price you will be paid! Period! We then schedule a time to come pick up the vehicle, pay you on the spot and take your junk car away. There is no charge to use our service and the quote process is free and easy.

This service can be especially useful for buyers looking to get the most out of their car with minimal effort. Time is one of the most valuable resources we have and Cash Car Buyers is here to save you time while still getting you an unbelievably fair price for your car – site unseen! You never have to worry about a low ball offer, a check scam or an unsafe situation either. Truly, this is a fantastic option.