All cars have a lifespan. You can go to the best mechanic possible, as consistently as possible, and even drive it gently; however, eventually, even the best car will not be usable anymore. Perhaps your car hasn’t passed inspection, and the necessary repairs are too expensive to justify the cost. Or perhaps your car is simply clearly impossible to drive or has even been in a wreck. Either way, you still need to get rid of it.
Keeping a piece of junk around is more expensive than simply selling it, even though you’ll most likely be selling it at a loss. You may wish that you could make more money, as you would when selling a used car. But remember that the money you’ll earn by selling your car is money that you wouldn’t have had otherwise.
Your question may be “how do I sell an old car that can’t be driven anymore”? It’s actually easier than you might think, and you’ll probably get more for the car than you would imagine. There are many opportunities available for those who want to sell a broken down car and get as much money as possible from the sale. You just have to do a little research first. Simply selling your broken down car to the nearest mechanic may end up getting you less money than it’s actually worth, and remember that many dealers will want to spend very little money on their potential finds. With that being said, let’s look into some of the ways that you can make the maximum amount of profit from your broken down vehicle.
1. Used Car Dealerships
We have to mention the obvious option at first. Your car may very well be broken down to you, but that doesn’t mean that a dealership can’t do something with it if it’s able to drive to a degree. Different dealerships vary. While a lot of larger dealerships will not take cars that don’t pass inspection, some smaller dealerships have lower standards, as they often work with mechanics on staff to have the cars repaired to the point that they can pass inspection.
While this may seem like an easy option, remember that the cost of labor that the dealerships must consider means that they will offer you less for your car. You may be taking the fastest route by going to a dealership, but you won’t get the most money that you can.
2. Sell Your Car Privately
When selling your car privately, you’re handling everything yourself and can really sell it for as much or as little as you want. The issue associated with selling a car privately is that private buyers can do whatever they want with your car.
This means that they may want to repair it, which returns to the idea of subtracting labor costs from the overall value of the vehicle. A private buyer will most likely offer you less than what you could get elsewhere. Furthermore, selling your car privately is more work.
When selling your car on your own, you have to list it and you must further negotiate with buyers on your own, as opposed to having a flat offer. When you’re already dealing with the stress associated with a broken down car and buying a replacement vehicle, you don’t want to further deal with the selling process. It can often be easier to simply sell your car for parts.
3. Sell Your Car For Parts
Both of the above options still hinge on your car either being sold as a working vehicle or a vehicle that can be repaired for a reasonable amount of money. But what about simply calling it a day and selling your car for parts? The fact is that right now, the automotive aftermarket industry is booming. Globally, it’s expected to reach $722.8 billion by 2020, and it uses up nearly 13% of the world’s steel.
This industry can include used cars, which often need repairs before they’re put on the market, as well as cars that are essentially build up from scratch by enthusiasts. In both of the options listed above, we mentioned those necessary repairs. Those repairs are done as cheaply as possible, usually through the use of used parts. The parts, in turn, are normally sourced through parts that are taken from cars sold for scraps.
No matter what condition your car is in, it can be sold for parts. The tires and steel the car carries can be converted if necessary. But with that aside, most broken down cars do have some usable parts available. Normally, when selling a car for scraps you’ll be offered a flat payment. This will be calculated based on the condition of the car. Normally, this doesn’t require giving a lot of information. Even if your car is otherwise ruined, if you list a car that has all four tires, you’ll essentially be paid for the tires.
All that is required of you is that you own the car and are available to sign it over during the sale. You’ll be more likely to get a good value on these parts because they simply make life easier for the buyer. Essentially, used car parts can be compared to prefab construction, as they are already built and ready to go. About 90% of engineers, 84% of contractors, and 76% of architects favor this type of construction. This process requires less work from them, just as used parts require less effort from scrap buyers.
No matter what you decide to do with your broken down car, you need to try to keep a clear head. Don’t get frustrated, and focus on making as much profit as you can. This will soften the blow of the car breaking down in the first place.