Do you have an old, broken-down car sitting in your garage or yard? Are you ready to clean things up?
While you can haul the car to the junkyard to get it out of your hair, what if there was a way you could make some money? There is. You can junk your car for money.
However, to get the most money possible for your junk car, you have to take the right steps. Here are a few tips to help you get started with the process.
- Remove the Most Valuable Parts First
When you junk a car, the goal is to get as much money from the vehicle as you can. To do this, take components or parts off the vehicle to earn some money if they are sold individually.
Things to think about removing include entertainment systems, starter motors, alternators, and other valuable parts. You can sell these to drivers or retailers with a similar vehicle.
It is smart to check the wheels and battery, too. If you take the tires off, make sure to replace them with old, beat-up ones. If the car can’t be towed, a we buy junk cars company may not purchase it.
There may also be money hiding in the gas tank. If there is any gas left in the tank, siphon it out before selling the car. You can use it for another vehicle.
- Make Sure the Paperwork Is Straight
While it is possible to junk your car without proof of ownership documents, most people will reduce the price they are willing to pay.
Getting your car title in order allows you to transfer ownership of the vehicle to the buyer. This means if something unforeseen happens, no one will question you about it.
If you don’t have the title, there’s no huge cause for concern. All you have to do is visit the state’s department of motor vehicles to have it replaced.
Remember, the rules for car titles will vary from one state to another, so check with the DMV to see what you need. In some states, very old vehicles don’t require a title.
- Cancel Your Car Insurance and Remove the License Plates
If you have a car that is truly junk, these things may already be done. However, if not, now is the time to do this.
You should also cancel any auto insurance you still have on the vehicle. If you paid any ahead of time, you might receive a refund.
Even if your coverage is up or almost up, you should still let your insurance provider know of your intentions. This will help you avoid any issues and may help you qualify for special deals or discounts in the future.
Remember, the license plates won’t stop being useful after your vehicle is taken out of service. Removing the license plates from your vehicle when you transfer ownership is a requirement in several states. In fact, the DMV will likely ask you for the plates when you have the title canceled.
- Find and Research the Local Junk Car Buyers
Get in touch with local services that buy junk cars. Since this is such big business today, there will likely be several in your area.
You should find out how much money your older vehicle can earn. To do this, provide the potential buyer with the make and model of the vehicle. You should also provide information about any damage or issues present.
Make sure you are upfront and honest about the damage and give as many details as you can. You don’t want to waste anyone’s time or get less than expected.
Along with finding potential buyers, you need to do a bit of research into their credentials, too. Ask the potential buyer for proof of licensing.
While you may be tempted to sell your junk car to the highest bidder, it can lead to financial and legal issues if the transfer is not handled properly.
After looking into licensing, it is smart to look at reviews online for the buyer. If people are not happy with the buyer’s services or offers, it’s best to stay away.
You can research social media and review sites to see what people have to say about the service you are considering using. If the business is nowhere to be found online, finding another service provider is highly recommended.
- Sell Your Vehicle
If you are happy with the buyer’s offer and all your paperwork is together, you are ready to move forward with the sale. Several buyers will provide removal service too, which is an added benefit of finding the right buyer.
Keep in mind that most buyers will want to inspect the vehicle before handing over any cash. If you left out significant details, it might result in a lower offer.
Now You Know How to Junk Your Car for Money
If you want to junk your car for money, there are more than a few factors to consider. Take some time to find a reputable buyer to ensure you get a fair price for your junk car.
Using the tips and information above, you will have the best chance of getting a fair price for the junk car you have to sell.
When it comes to any car-related information, be sure to look at some of our other blogs. This is going to help ensure you make all the right decisions regarding your vehicle.