Did you know that the average life expectancy of a new vehicle is 8 years?
When your car reaches the end of its lifespan, you might be wondering what to do with it. Don’t let it sit in your driveway gathering dust. You can recover some of your investment in a number of ways.
Depending on the condition of your car, you can repair it, sell its parts, sell it to a junkyard or sell it for cash. Keep reading to learn more about the best ways to sell a broken car in this quick guide.
Valuation and Repairs
The first thing you want to do with your broken car is have a mechanic inspect it. They can tell you the condition of the vehicle and its major systems. They’ll give you a valuation on repairs as well as the car itself.
If the cost to repair your vehicle is higher than or close to its value, then don’t fix the vehicle. Instead, sell it as it or sell the parts.
If your mechanic says that the cost of repairs is quite a bit less than the value of the car, and the car will be in good working condition after repairs, then consider fixing it. From there, you can continue to use the vehicle or sell it, because you’ll be sure you can make back the cost of repairs on the sale.
Sell the Parts
Your mechanic will tell you which parts of your vehicle are still in good working condition. You can strip out these parts and sell them individually.
If you choose to sell the parts of your vehicle individually, you can sell them to private buyers. Find these buyers in newspaper classified ads as well as online listing sites like craigslist or Kijiji.
Sell to a Salvage Lot or Junkyard
Salvage lots or junkyards will buy your broken car for cash. They buy broken cars for their scrap metal. The amount you’ll receive is based on weight and a set price per ton.
Selling to a salvage lot or junkyard isn’t the best way to sell a broken car because you don’t get the best price. In some cases, you might get more if you have working parts that have value.
Sell a Broken Car for Cash
There are companies that specialize in buying broken cars for cash, such as the one over at this website. They’ll take into account the condition, mileage, and options on your vehicle before giving you a price.
Typically, these companies will take cars with body damage, mechanical issues, electrical problems, and more. They also provide pick-up services, so you don’t have to take your car anywhere to sell it.
All Your Automotive Advice in One Place
If your car is reaching the end of its lifespan or was damaged in an accident, the first step is to find out its value and the value of the repairs. If your car isn’t worth repairing, there are a number of ways to make some money from it. You can sell a broken car for cash or to a salvage yard or you may sell its parts individually.
When it’s time to purchase a new vehicle, don’t make the decision without doing your research. Check out our Auto section for everything you need to know about cars in one place.