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Best Ways to Cash In on a Used Car by Cleo Gib

Best Ways to Cash In on a Used Car by
Article Posted: 01/11/2016
Article Views: 118
Articles Written: 12921
Word Count: 643
Article Votes: 0
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Best Ways to Cash In on a Used Car


It’s never easy saying goodbye to a cherished set of wheels. That old car got you effortlessly from point A to point B more times than you can count. But now, making the trip between two destinations has become a struggle for your once trusted automobile, and it’s time to send the vehicle to a better place. Fortunately, you don’t have to send your rusted, duct-taped car away without recompense. Your vehicle can leave something precious behind with you – cold, hard money. There are a variety of ways you can get cash for your junk car.

Stick a Sign on It

Especially if your vehicle still runs, selling a used car can be as simple as sticking a “for sale” sign in your car window and driving around. If that doesn’t work, you can also place a newspaper or internet ad. If your car is priced appropriately, you should be able to sell your car in short order.

Sell It to a Salvage Yard

Salvage yards are the final resting place for many an old car or machine. Rusted out, bottomed out cars don’t have to find themselves on a crushing compactor. Your car may no longer run, but some of its parts may have a second life thanks to a salvage yard. These salvage yards make it possible for car collectors and hobbyists to rebuild cars and engines for which the automobile industry is no longer manufacturing parts. Salvage yard operators will buy a car that doesn’t run. Many salvage yards will even give you a quote over the phone or online. They may even tow it from its resting place at your house to their yard at little or no cost to you. Some yards specialize in different types of vehicles, like domestic or foreign, or other mechanical equipment, so you’ll want to do a little research before towing your car to the salvage yard across the way.

DIY Scrap It

This option isn’t recommended for anyone who doesn’t have a fairly seasoned understanding of vehicles, parts, and the parts aftermarket. However, if you’re handy with a wrench, have a general understanding of automobiles, and aren’t unnerved at the prospect of selling car parts via the Internet, you may be able to make extra money by selling the parts yourself. Should you decide to go this route, make sure you consider shipping costs, if you are going to be shipping parts. If you decide to sell your parts locally, keep your security in mind as any part transaction progresses. Finally, as you calculate your potential earnings, remember you will reach a point where you will still need to get the remainder of your car to a salvage yard or car shredding facility.

Trade It In

There are plenty of car dealers who will take any vehicle, no matter its condition, as a trade in. Beware, however, that you will likely get less money for your vehicle than you would if you sold it to another driver or sold it to a salvage yard. There are advantages, though. Using your car as a trade-in will reduce the cost of a new vehicle. A lower priced new vehicle means a smaller loan and less due in sales tax, which can easily make up the difference between what you make on a trade-in and what you make selling the car yourself.

When your car reaches the very end of its life, whether that’s with you or wherever you send your auto in order to get cash for your junk car, you can take comfort knowing vehicles are the most recycled consumer product in the world. More than 95 percent of vehicles are reclaimed, and much of that recycled material ends up back in a new car. Though your time with your wheels may be at an end, your car will go on.


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