Selling your junk car is all about timing. Sell lit too late, and you risk breaking down on the side of the road; sell it too early, and you might leave money on the table. Being able to accurately determine the worth of your vehicle is imperative to getting the most return when you decide to let it go.
Determine the Cost of Repairs
If your vehicle is older and in need of major repairs, it may be worth it to sell it to someone who buys junk cars. Not only will they give you a decent price, but they'll also usually arrange for transporting it to the junk yard, which is not an inexpensive charge. You'll know it's time to call a salvage yard by comparing the cost of the repairs to the value of the vehicle itself. Generally speaking, if the repairs are at least 50% the price of the car, then it's most likely not worth repairing (unless it has some kind of sentimental value). Common repairs that plague older cars are transmission and engine failures or rust on the body frame. Those issues can cost a lot of money to repair - more than you would get back whenever you do decide to sell it.
Examine the Cycle of Repairs
Another reason people may sell their vehicle to someone who buys junk cars is if they are constantly having to repair the vehicle. The average American can expect to spend around 1.5% of their annual income on car repair bills every year, so if you find that you're constantly having to repair or replace parts on your car, consider getting rid of it. Those bills are only going to increase in frequency as the car gets older, and they will most likely be more expensive every time as well.
Consider What's Still Working
If your car is older but has some in-demand parts that are still working well, it may make more sense to sell your used junk vehicle rather than try to repair it. Junk yards can be gold mines for people who need one-off or hard-to-find parts, and dealers will take into account the parts that are still working to determine your car's value. If your car has a lot of pieces that are still operational, even if it doesn't run, you can generally get good money for your junk cars by talking to a dealer who buys salvage cars for a living.
To learn more, contact a resource that buys junk cars.Share