Once you’ve realized that you’re pouring too much money into your old car, although you know it’s time to stop throwing good money after bad, you may not know what to do with it. There are plenty of unscrupulous businesses that will offer to haul it away for a fee, but that’s just throwing away more money. They’ll make the profit, not you. Selling a junk car can be difficult, but it can be done in ways that ensure you make a profit.
What Is a Junk Car?
Sometimes a junk car is completely obvious, but sometimes it isn’t. What defines a junk car is if it costs more in repairs to keep on the road than it’s worth. Other factors that can cause a car to hit this category are age and mileage. It may run perfectly fine, but after so many years and so many miles, selling it could prove to be darn near impossible. To determine if you’re the owner of a junk car, do the following:
- Find out the value of your car by using an online car value calculator.
- Input all the required information about your vehicle.
- Once you have its value, if the cost of repairs is equal to or greater than 50% of the car’s value, you have what’s known as a junk car.
For example, if you have an older car that looks great from the outside but requires a costly repair to keep it safe and operational that costs half or more of the car’s resale value, it is considered junk.
Best Ways To Sell a Junk Car for Maximum Profit
Once you’ve determined you do, in fact, own a junk car, your next thought is most likely what to do with it. There are several options for unloading a junk car. Although most think their only option is to pay someone to haul it away, that’s just a bigger hole in the wallet. Depending on the condition of the vehicle and how you want to sell it, there are much better options.
Sell It Privately
It is entirely possible to sell a junk car to a private buyer. This can be done by the usual means of posting it on your social media or by using one of the many popular online car-selling platforms such as Craigslist or Facebook Marketplace. You’ll have to do the posting and meet with interested buyers, but you’ll be 100% in charge of its selling price. However, be warned that selling it this way isn’t guaranteed and could prove to be fruitless.
Scrap It
If you’re looking to make a quick buck, most junk and scrap yards will buy junk cars, regardless of whether they’re running or not. They’ll give you a price based on what they can sell the vehicle’s metal and usable parts for. You won’t get the maximum profit for your wreck, but you will easily get it off your hands. Shop around and check for the best prices between businesses and see which ones won’t charge you for towing if it’s inoperable.
Sell It to a Specialized Dealer
For maximum profit and an easy selling experience, specialized junk car dealers are the way to go. This type of business will purchase any car despite mileage, age, appearance, or whether it’s driveable or not. For example, anyone can sell their junk cars for cash in California to a specialized junk car dealer. They don’t care how beat up they are; they buy them all.
Most offer a free tow-away service, saving you the hassle of trying to get it to them. Specialized junk car dealers are incredibly transparent with what and how they’ll pay you. You’ll be offered top dollar for your wreck and paid either in cash, by check, or with a Venmo payment.
What To Do Before You Junk Your Junk Car
To maximize your junk car profit when selling, here are a few things to consider. As long as you’re completely transparent about what you’re selling, you can still make some bucks before unloading it. Consider removing any items of value before attempting to sell. Car sound systems, car jacks, spare tires, or even the vehicle’s catalytic converter can be removed and then sold individually using online platforms such as eBay or Facebook Marketplace.
You’ll probably gain the most profit by selling your junk car’s catalytic converter. They have a high resale value which is why they’re often targeted for theft by thieves. There are laws put in place to slow down this type of crime, but you can sell one from a vehicle that you own.
Maximizing Your Profits When Selling Your Junk Car in California Explained
Selling a junk car isn’t as difficult as one would think. Although their necessary repairs could far outweigh their resale value, they can still be sold without taking a loss. Plenty of backyard mechanics who are looking for a new project may see your wreck as an exciting new project. Even scrap yards see value in junk, and most will purchase yours. However, to fully maximize your profits, selling your junk car to a specialized junk car dealer is always the best option.
