Do you have an old broken down car which you are wondering how to dispose of? Are you considering fixing it, scrapping it, dumping it, or trading it?
Maybe a few years earlier, there were very limited options to sell a broken down car for cash. The cars would just be towed to a scrapyard and be destroyed. Some people would just abandon their damaged vehicle which was beyond repair in order to avoid the hassles involved.
Things have actually changed now, and you can really recover money from your damaged, broken-down car. There really are ways you can sell your broken car. If you would like to find the best ways to sell a damaged car for cash, do read on.
How to Sell Your Damaged Car
Even if your vehicle is not roadworthy any longer, or is old and run down, you can still get some money out of it. There are lots of different ways to dispose of your old car, and you can determine which is the best way for you. The condition that the car is in and your financial position helps you determine how to go about it.
If you are in urgent need of cash and would like to trade in the old car soon, you might be looking at the easiest and quickest option to do it. Otherwise, if you have the time to look at options, and if the car is in not so bad a condition, you may be able to get more out of it, even if it takes more time.
At least some money can surely be recovered even if the vehicle is broken down, dilapidated, old, rusted, and not at all in a road-worthy condition. The prices you get may vary depending on the methods you use as well as your persistence.
Preparing for The Sale
Before you sell the car, the first thing you need to make sure is the expense required to make the car road-worthy. An accurate evaluation is needed to find out if the car is worth being repaired. Make sure to get an unbiased repair estimate since overvaluing your car would only be like cheating yourself.
Get the car properly inspected by a mechanic who can give you a detailed report of the vehicle condition and also the electrical, mechanical, and other systems of the car. Find out whether any parts are still functioning properly and what can be done to make it work again.
Whatever the condition of the car, take advantage of the following methods to dispose of it without much financial loss.
- If the car can be salvaged with a repair cost which is practical, or much lower than the value of the car, paying for the repairs may be worth it.
- If the repair cost estimate is even close to or higher than its actual value, it probably may not be worth fixing since you can never recover the value of repairs.
- If it is not worth fixing, or if you are short of cash to fix it, the only way is to sell it off as junk.
Where to Sell Your Damaged Car
If you have decided not to repair, but rather to dispose of your junk car, there are many ways you can go about it.
1. Sell it yourself
- Before selling it, always make sure you find out the market value of your car. This will give you more room for negotiation, whether you are selling it to private parties or to a dealer.
- Make sure to have all the paperwork in order. Also, you need to thoroughly clean the car and perform basic maintenance.
- Advertise the car in the newspaper or in online classifieds, highlighting its best features, but at the same time, being careful, to be honest, and straightforward.
- Try to get the best deal as much as possible, but be realistic about the price you can expect to sell it for.
2. Donate it to charity
There is usually some charity program to which you can donate your unwanted vehicle. Some of them may get it repaired and use it again on the road. Or they may dismantle it and sell the spare parts for cash.
When you donate your vehicle to a charity, make sure that it is a certified organization so that you can get a tax benefit from it. They usually give you a tax receipt for a fair market price of the donated vehicle which can be used as a contribution in your income tax appraisal. Both you as well as the charity benefit as a result.
3. Dismantle it for Spare Parts
There is always a market for used car parts in any country. If you can find the time to do it and if you are handy with tools, you can remove all the parts which are functioning and sell them piecemeal. So this way requires a lot of effort, and also you need to find the place to store the parts. Parts which may be in popular demand can be:
- Electronic components such as radios, motors, door lock systems
- Metallic body panels
- Transmissions and engines
- Tires and their rims
- Side windows and windshields
This mode of selling may be the most profitable, but involves too much work and involvement, which may not be practical for all.
4. Sell it to Auto Dealers Who Take Used Cars
There are quite a lot of auto dealers who deal in used cars and would buy the damaged car from you for a price. Junkyards, as well as salvage yards, are also on the lookout for old and broken down models and they make a profit from them by salvaging as many parts as they can before discarding it as scrap. Make sure to find out regarding lemon laws as well as regulations for salvaged vehicles in your state.
Dealers purchase cars in less than perfect conditions even if the car has damages – mechanical, electrical or even body damage. As soon as you accept their quote, they do immediate cash payment and make sure that the broken down car is picked up from your site at their expense. Look online for dealers near your locality who can offer a fair price, convenience, and transparency.
How Much Can You Expect to Make from Your Damaged Car
In general, it is a good idea not to expect too much for an old car. But when you sell it to an agency that picks it up from your doorstep, the money you can expect may not be much, but it will surely be worthwhile and is ready cash in your hands. The size and weight of the vehicle will also factor in the price. Larger and heavier cars can fetch you more since they have more metal. Some outstation buyers may also charge for transportation.
Dismantling the vehicle and selling the usable parts by yourself may be the most profitable way if you are handy as a mechanic and are ready to spend the time and effort needed for it. Donating the car gives you a long-term benefit, even though nothing at present and you can be assured that you have been able to help the underprivileged in some way at least.
If you are selling privately, it is always better to name a higher price so that you will have some bargaining space. You could then bring it down to what you actually expected for it. If you are dealing with agencies, it helps to have a few quotes in hand, rather than going for the first one, so that you know what to expect realistically.
Things to Consider While Selling Your Damaged Car
A few questions to consider when you are trying to get rid of an unusable and damaged car.
- Do you really have the time, expertise, and motivation to make as much money as you can from the old car?
- Do you think it worth your while to donate it to a charity in order to get a tax receipt for income tax benefit?
- Do you have the space needed and the market knowledge to store the reusable parts until you can dispose of them at a profit?
- Do you have the space to store the car till you get the best profitable deal?
- Or do you need the space and the money and just want to get rid of it as soon as possible?
Answering these questions honestly to yourself and assessing your limitations, as well as preferences, help you much in making the best decision concerning the junk car.
Conclusion
If you are stuck with an old car or one which met with an accident and cannot be repaired, there really are ways to dispose of it for a profit. You can follow the above steps and get the most out of your car even when it is a total loss and the price of repair is not worth it.