It may be hard to believe, but that out-of-service automobile taking up space in your garage could be worth a pretty penny to the right buyer. Junk cars can sell quickly and easily—and bring you some extra cash in the process.
Keep reading to find out why you should sell your junker and get some tips on how to do it.
There’s Value Hidden in Junk Cars
Selling your junk car is not as complicated a process as it might seem. There are plenty of buyers out there in the market. If you find the right one, you can turn your rusting lawn ornament into a tidy profit.
Even if your clunker doesn’t even run, the car parts are still worth a lot to the right buyer.
Certain car parts—like the transmission or drivetrain—can bring in a high price if they’re in good condition. An undamaged fender for a rare make and model can sell for a lot to collectors and hobbyists.
If you know you have a valuable, undamaged part, do some searching to see how much these are selling for in your local market. You may opt to sell these items to a private buyer yourself before you scrap the rest of your junker.
Don’t Underestimate the Value of Scrap Metal
Even if everything in your car is thoroughly broken, you can still make money on the sale. That’s because the metals your car is made of have high value to scrap sellers.
Platinum, iron, steel, aluminum, and copper can all be stripped from your car and sold. Scrap metal prices are constantly fluctuating, but your junker’s shredded steel scrap alone can sell for $310 per pound.
How to Sell Your Junker
If you plan on finding private buyers for specific parts, make sure you understand how to remove each part without damaging it first. Then get busy posting to eBay, Craigslist, and any other local message boards. Consider limiting your search to local buyers so you don’t have to deal with shipping costs.
Then, it’s time to find a buyer for your scraps.
Perform a local search for local junk sellers in your area. For example, searching for “selling junk cars Los Angeles” would find you a bevy of merchants to choose from in the L.A. area.
Contact a few with good reviews and ask them how much they’re offering for a junker like yours. Keep shopping until you find the highest dollar offer for your car.
Next, you’ll have to set up the transfer. Many car junkers will send a tow truck to your location; just be sure to ask if that service is included in their price quote.
Before your tow arrives, you’ll need to transfer your title over to your buyer. The process—and cost—of this process can vary from state to state, so consult your local DMV for help. Be prepared to have your transferred title in hand when your tow arrives.
Make sure you remove your license plates and cancel any car insurance coverage on your junker, too. Then wave goodbye to your junker and enjoy your heavier wallet.
Learn How to Fix Your Car Before It Becomes a Junker
At YouFixCars.com, we teach you how to maintain your car before it becomes a pile of scrap. Visit our site to find the repair manual for your car or check out our blog for everyday tips and tricks on DIY auto repair.