At some point, drivers must get rid of their vehicles. Whether it has reached its maximum mileage, repair costs have gotten out of hand, or a serious accident has rendered the car unusable, it will be necessary to sell it and move on.
There are numerous ways to get rid of an old vehicle and get cash for it. Traditionally, cars that have reached their expiration dates have been scrapped, recycled, or sold off to companies or individuals that can put them to better use.
However, finding a suitable car buyer can be difficult, especially if you are looking to get a fair price for your vehicle. Old ways of getting rid of a car involve visiting potential buyers in person, possibly multiple buyers. This can be exhausting and frustrating especially if it is difficult or impossible to drive your retired car around. Moreover, although scrap yards have provided an easy way to get rid of cars, they don’t provide the greatest financial outcome.
Continue reading below to learn more about how you can get rid of your non-working vehicle and discover faster and easier ways to do so.
Traditional Avenues for Selling Vehicles
Once a vehicle reaches the end of its life, or simply becomes more of a burden than a useful commodity, the best thing to do is to get rid of it. Depending on your situation and goals, there are several avenues through which you can accomplish this.
Sell to a Dealership
A dealership often provides the easiest way to sell your car, especially if they make that particular vehicle. Getting rid of your car through a dealership simply requires that you bring it in, sign some paperwork, and hand over the keys.
Unfortunately, this method is unlikely to give you the biggest bang for your buck. Dealerships usually do not pay fair market prices when they take in old or broken vehicles. Thus, while you might be in and out in a short period of time, finally rid of your unusable car, the amount you receive in return might not even be worth it.
Trade It In
Trading in an old vehicle is a popular and often financially beneficial way of ridding yourself of an old car and in return, getting a new one at a reduced cost. Essentially, the value of the old vehicle will go toward the cost of the new or used vehicle that you actually want. Additionally, this process is relatively streamlined and you can get a new car the same day you get rid of your old one.
While this seems like the perfect way to get rid of your old car, it does have its drawbacks. For instance, your car might be valued lower than the market price, especially if it is functioning well. As a result, you are not getting your money’s worth for it and are paying more for your new car than you needed to.
Private Sale
Many car owners seeking to get rid of their old vehicles sell them through private sales. This option gives you the greatest control over the price of the vehicle. You may be able to sell the car for more than it is actually worth if you find the right buyer. Often, a functional old car will be able to sell for a decent price.
On the other hand, selling a car yourself takes significant time and effort, and is a complex task. This is because you have to put the vehicle in front of the right prospective buyers. The car selling process may take months, which can be exasperating if you are in need of money now.
Scrap It
Another option is to simply junk your vehicle. This solution can result in receiving some money from the junkyard, no money but free towing of the vehicle, or you wind up paying to get the car removed from your yard and your life.
Depending on how much usable scrap metal is remaining on your vehicle, you can get a fair quote. However, you may need to call several different junkyards to determine the value of the car’s parts.
Recycle
Some vehicles just are not worth trying to sell. In such cases, car owners may try to recycle them. If your car still has most of its parts, you can recycle numerous components of the vehicle including:
- Window and windshield glass.
- The car battery.
- Plastic parts.
- Tires.
- Engine components.
While recycling your car, or at least parts of it, will be helpful for the environment, it may take a lot of time and effort to find the right facilities that will accept the parts. You may also be required to remove the separate components yourself or pay for someone else if the recycling facility does not do the labor for you.
Online Car Selling
The internet has forged the way for quick and easy buying and selling goods, and the car market is no different. Gone are the days that you have to leave your house, or even put in much work, to sell your car. Now, you can find an online car seller to do the heavy lifting for you while securing you with a fair market price.
When you visit a dealership, scrap yard, or attempt to sell your car on your own, you will likely have to go through a haggling process. In addition, different private buyers will respond at different times, making it difficult to determine who has the best offer at any given time. Online, however, you will be able to obtain your quotes all at once and make a decision faster as to which the buyer has the best offer.
Another benefit of online selling is that you don’t even have to leave your house or schedule an appointment to get your car checked. Usually, you are simply required to submit photos of your vehicle and indicate any damage that is not visible. Then, the online company will create a quote for you to either submit or reject.
