Cash for Your Junk Car – 7 Tips and Strategies on How to Get Top Dollar
Getting rid of an unwanted vehicle is a simple and straight forward process. But, for some reason many people mess this process up due to lack of knowledge on the topic. I am going to teach you how to effectively come out on top before you go and give your car away for peanuts.
- Tip 1: Your car may be junk to you, but gold to another. Parts are valuable in the the junk business. Any salvager with a brain is going to strip the car cash for cars and sell any parts that s/he can before taking it to the crusher. Research the parts on your car. A simple Google search would do wonders. This will give you an idea of what demand you’re dealing with.
- Tip 2: Take it to the scrap yard yourself. This can be difficult if the car is not running. You may need to hire a towing company to drop it off for you. Scrap yards pay by the pound. So, depending on how heavy your vehicle is you may come out on top.
- Tip 3: Never offer to Donate your car unless you are doing it for moral purposes. Before 2005 The IRS was writing out deductions like nothing. Until they realize that they where losing Millions in revenue. Nowadays, to receive a deduction on a vehicle donation the value must exceed, but not including, $5,000. What does this mean? If you donate your car and they give you $5001.00, then your deduction is only $1.00. You are batter off taking it to a salvage yard and getting $50 bucks for it.
- Tip 4: Only call the salvage yard as a last resort. Salvage yards are only willing to give you the minimum for your junk car. For obvious reasons. They receive calls all the time from people that want to get rid of their cars for a buck. You are no different. They are in the position to make the rules.
- Tip 5: Shop around. After you’ve done a little road work call up a few salvagers in you area and get some quotes. If you know how much their getting per pound and what parts they can sale to make it more worth their time, then you can keep from getting taken to the cleaners.
- Tip 6: Don’t be greedy. Now, I understand that this is all about getting the top dollar for your car, but, there is a walk-away price for any business. Most salvagers are only willing to pay a little more then half of what they can make off the car. So, if your asking price is more then 65% of what they can make, then they will more then likely walk away from it.
- Tip 7: Sell your car for parts on your own. They’re many people that just need parts. If you can stomach what comes with selling your junk car for part, then that is the best way to go. You will make more money then any salvage yard, salvager, or scrap yard would pay you.
Getting rid of a car is not hard at all. It just take some time, a little road work, and patience to see it through. I have helped many people cash out their vehicles and they all had one thing to say, if it wasn’t for your help, I’ll still have that pile of bolts in my driveway.