One Man’s Trash Is Another Man’s Treasure
We have all heard this proverb but often forget when it comes to our own lives. Your old cars are worth what you want it to be. Simply if you work to sell it, you can get the top dollar. Calling a Junk car removal service is an easy choice. The ‘buy old car removal’ guys come promptly and haul away your car .You are even prepared to pay cash for towing. But it is neither a smart nor a responsible choice. The fact is most of our old cars can be sold to many who want to buy salvage cars and extend the life. The sad part is our old cars end up as scrap steel because many of us have been used to an easy solution rather one that optimizes the value.
Don’t regret if give away your junk car without reading this page.
I have worked in many ‘buy junk cars for cash’ businesses and I am sharing my experience with you here.
If you think that your junk car is not worth much that no one will pay to buy junk cars, you are in for a big surprise. Unfortunately there are many who mistakenly think their junk car is worth nothing and actually PAY to haul their junk car to a ‘buy junk cars’ company. In most cases you can get some where between 200 to 600U$ based on type and condition of car with free towing. As a ‘buy junk car for cash’ business owner, I have even paid 800 $ for some cars because I knew that i can get at least 3000$ from the car parts or rebuild the car. Have you ever wondered why there are so many ‘buy junk cars’ service companies competing for your car that you think is worthless? Do a Google search and you will find at least two dozen ‘buy junk cars’ businesses in every city.
Your Options
OPTION I – Contact Auto Salvage yard in your area
Key to getting the best price is giving as much information on the condition of the car to the car salvage yard, contacting at least 3 yards close to your home and negotiating price with them. The good news is that the ‘buy junk cars for cash’ services are knowledgeable in car parts, repair and they know the value of the car. Most Auto salvage yards will give you a good price because before they scrap the car, they salvage the car. Most of them are professional and know what your car is worth. You simply have to negotiate with them instead of asking them to haul the car free. For your information, an old salvage car can be used in the following ways:
1) Cars in reasonable mechanical condition can be rebuilt with a rebuilt title and will be sold for thousands of dollars (with a rebuild disclosure as allowed by the state)
2) If the car can’t be rebuilt, the car will be parted out and individual parts will be sold. Below you get an idea how the ‘buy junk cars for cash ‘businesses makes money
- Old cars will be parted out and individual parts of the car removed and sold for several hundred dollars. Example: tires, rims, engine block, catalytic converter (high value item), Oxygen sensor (high value items) suspensions, shock absorber, doors mirrors head lamp, seats, etc.
- Finally once the salvaged cars in the wrecking yard have no more usable parts, the hulks are usually sold to a scrap metal processor, who will usually crush the bodies on-site at the yard’s premises using a mobile baling press or flattener, with final disposal occurring within a hammer mill which literally smashes the vehicle remains into fist sized chunks.
OPTION II – Try Craigslist, Ebay or Carmax (Better option)
Your old car is not in a good shape but in running condition; It is not totaled. But need lots of work. Believe me you can find someone who is prepared to buy, repair and use it. Be upfront on your listing as well as communicate about the car problems and the extent of repair work required. This is the best approach since you can attract crowd that is willing to do repair work. Don’t be surprised if you get call from auto salvage yard (option I above). Negotiate with them. Either way with Craigslist or EBay you can get a much better price. This should be your first choice. If you sell, make sure that you visit local DMV office and transfer the title to the new owner. If not, you will expose yourself to several liabilities, like toll traffic citations, accidents , toll charges etc. If you have not succeeded in this method, donate it to charity.
Option III – Donate to Charity (Least cost-effective option)
Charity cannot use junk cars and they end up selling it to a ‘buy junk cars’ service. The only exception is if your car is in good condition, it can be used as project car. And If you want to donate to a charity, sell the car to a ‘buy junk cars’ service (junkyard), get cash and donate cash to the charity of your choice. Here is why.
Let us assume you donate your junk old car to a charity. They will auction it and may get 300$. Do you know how much tax deduction you will get? If you are in 25% tax bracket, you will get only 75$ tax deduction. Now if you sell it a ‘buy junk cars’ service, you will get 300$ and you can decide how much you want to donate to the charity of your choice not just the car donation charity.
