- Selling Car For Scrap- Salvage Yards
- Selling Car For Scrap – Car Dismantlers
- Selling Car For Scrap – Preliminary Steps
- Selling Car For Scrap – Selling The Car Part By Part
- Selling Car For Scrap – Donating Your Car Is Another Option
- Selling Car For Scrap – Conclusion
Attachments vary from person to person. And no, we are not talking about e-mail attachments here! Some are attached to their career, some to their girlfriends, some to their beloved pets, and many guys, to their snazzy cars. But then whether human or non-human, everything on this earth has a limited lifespan, and cars are no different. Be it a Jaguar, a Merc, or a souped-up Audi, like the ones in the “Transporter’ movie, the time does come when the car has delivered its best and it’s time for the car to be retired, or to be consigned to the car graveyard. Sounds awful, isn’t it? But that day will come for your car, no matter how sleek or powerful and expensive the car is. And then it’s important when you do decide to rid yourself of your car, what value will it fetch. Cars that have long since passed their reselling rate, have to sell as ‘scrap cars’, but this doesn’t mean that just because it has the tag of ‘scrap’ that when selling car for scrap, you cannot make a good deal out of it.
Exactly how much will this deal bring you when you are selling car for scrap, varies from State to State in the US and some States offer more than others, but it’s best to sell this locally, as the travel costs to another State, even if you are getting some extra bucks, outweigh the marginal cash benefits you reap. But if you are feeling sad at junking the car you have used for so many years, bear in mind the fact that nearly 15 million cars in the US are reaching their End of Life each year, commonly known as EOL, and out of these approximately 13 million are sold to junkyards.
Selling Car For Scrap- Salvage Yards
These scrap cars are sold to the ’Salvage Yards’, which then dismantle the car, piece by piece, and then sell the parts separately. Some agencies like ‘Auto Wreckers’ or ‘Dismantlers’ are engaged in this business, full time. Wellington is one such company that has been in this business for some time and is well known.
But how can you say with some surety that your car is ready to be scrapped? Of course, without any doubt, age is the single most important factor, but many other considerations come into play too.
Selling Car For Scrap – Car Dismantlers
When you try to sell damaged cars, if the car is missing some important parts, or they are damaged beyond repair; for example, car tires with the tread faded out, probably so badly worn that you cannot even run the car. If it is been standing parked in some remote place for very long and is gathering not just dust but worse, rust, then you need to take action and hand over the car to the car “wreckers” or “car dismantlers”. The question then arises – can you sell damaged cars? Of course, you can, but the car trading company or junkyard will do a quick assessment of how much it would cost to repair the damage and deduct that much from their payout to you. If the car is damaged not only does the car suffer damages, but so do you. At least, financially!
Sometimes, it is not just the age that wreaks havoc on the car. It could have met with an accident or been a casualty of some fire. In such a case, it can, and should be junked too, but in such unusual cases, all the necessary paperwork needs to be done by the owner, so that the next party the car is handed over to, does not have to face any kind of legal or police inquiry.
Selling Car For Scrap – Preliminary Steps
But before you hand over your car to these specialized professionals, it is important that you take some preliminary steps.
(1) Selling Car For Scrap – Get The Vehicle Registered
Can you sell a car with expired registration? Your vehicle, or what’s left of it, is not going to fetch much value if you are not the owner of the car. If you are thinking, can you sell a car with expired registration, yes, you can, but it will never fetch as good a price as a car sold by the registered owner. So without any further delay, get your car registered as the answer to – can you sell a car with expired registration. Many will not purchase a car with expired tags because they are afraid that maybe there is something drastically wrong with the car or because there are tickets holding the registration. This stems from a historic tradition of lemon laws which state that if the car is declared unfit for use (or labeled as a ‘lemon’), then the earlier owner is burdened with numerous requirements that vary from state to state, but which need to be addressed.
(2) Selling Car For Scrap – Do Some Preliminary Groundwork
Get a figure, if even a ballpark one, of what your vehicle is worth in the market. And then use that figure (or figures which you have obtained from many prospective buyers) as a base from which to bargain with the scrap purchasers. See, before selling the car for scrap, whether it will fetch a decent price if you carry out essential repairs. If the cost incurred in doing up the vehicle is not worth the extra revenue that it will bring in, then don’t do it. To sell damaged cars is twice as difficult and since you will rarely meet your buyer more than once or twice, don’t go for the extra trouble. You don’t have to worry so much about his or her feelings or satisfaction. Follow the old laws of the market and see if the expenditure incurred is less than the profit gained. If so, go ahead with the repairs. Otherwise, sell your vehicle in a “take as is ”position. Don’t confuse “cash for cars” with a federally administered “Cash for Clunkers” program that is presently dysfunctional.
(3) Selling Car For Scrap – Get Several Quotations
You will be amazed at while this seems only too obvious, how many sellers actually engage in this exercise. Try and get quotations from a minimum of three nationwide as well as local van and truck wreckers. Then once you have compared the quotes from those of the other buyers, you will have a realistic estimate of selling a car for scrap and the cash that you can make out of it. A proper dealer is going to request certain information from you, which you need to have ready. The facts that they are going to demand from you are:
Your car model, make, and year
Whether it has a title or not and
If it is damaged, further details about the kind of damage
It is vital that your car has a title. A title is proof of ownership and makes the whole transactional process easier and more transparent. If you don’t have a title, you can always call the Department of Motor Vehicle (DMV) and claim a request for one.
But remember, if they are asking for information, you need to demand some from them too. Most important, is whether the junkyard is licensed or not. Whether they have a permit or not. You are of course free to sell it to a non-licensed junkyard, but a lot of problems could ensue later, as a result of this decision. Also, almost every organization nowadays has an online presence and junkyards are no exception. Do an online check of their bona fides, and most important, look at the customer satisfaction and reviews, and you can use social media to good advantage here also. Check out the social media sites and their reviews, comments, likes, or dislikes about the company you are planning to sell to.
(4) Selling Car For Scrap – Leave Your Vehicle At The Junkyard
If your vehicle is in a fit condition to drive, then you should definitely try to leave the vehicle at the junkyard. That will save you the additional cost of the dismantlers (usually done by Wellington) coming and picking up the car and charging you a fairly exorbitant amount for it. Many, however, do a towing job either for free or at a nominal price. Before you bid a final goodbye to your old mechanical friend, do remove the license plates before you leave. This may seem unnecessary when you will have nothing more to do with a vehicle, but it is a legal requirement that you need to comply with. Also before you do a final hand over make sure that you have gone over your vehicle with a fine-toothed comb and ensured that none of your personal belongings or anything of value is there. It also makes sense not to drive down to the junkyard with a full tank, since you are not going to see it again, should you close the deal, so why the generous gasoline gift?
(5) Selling Car For Scrap – Never Give Up On The Final Price
The final price is not written in stone. You can always bargain with the buyers for a few extra bucks. Naturally, the greater your bargaining potential, the more cash in your pocket on the way home. The kind of cash you can pick up for your car depends upon its completion, mileage covered, any damages to the car either on the exterior or internally, but as a rough estimate you can hope to pick up about $200 to $500 from the Junkyard.
Selling Car For Scrap – Selling The Car Part By Part
All the tips we have given are for the car to be sold as a single piece. But it can also be sold piecemeal – part by part. Again you need to do your homework here and either through the Net or by word of mouth, find out whether it is more profitable to sell part by part or as a single functional unit. Market research shows that there are greater chances of securing a bigger price for a car that is in running condition than a car that is so badly and heavily used, that it can only be sold as parts. Having said that, are there any definite advantages in selling car for scrap? Turns out, actually, there are quite a few…
Maybe by selling it as a whole, you stand to gain a few extra dollars, but in any case, with all your bargaining, it is doubtful if you will get very much more than $500. So it worth the extra headache, all that arguing, and bargaining? Once you know that your car is only worth as scrap, or to use a cruder word, junk, then it’s best to get in touch with a used parts dealer and try to clinch the deal as soon as possible.
Furthermore, if you have taken the plunge and decided that it’s not worth the time and trouble to find a buyer for a running car, and if you have decided in selling car for scrap, then most scrap companies will pick up your car from your house, and what’s more, not even charge you for it.
But it is not always necessary to fully trash your car, or sell your car as scrap. If it is in a reasonably good running condition, then you can think of trading it in for another vehicle. Maybe you don’t get a very good price for the trade-in, but you can save taxes on the value of the trade-in.
Selling Car For Scrap – Donating Your Car Is Another Option
Another option that some people also opt for is donating the car. Of course, unlike selling a car for scrap, where you will walk away with ready cash, in this situation, you get nothing except maybe a good feeling in your veins and heart. But it is not a complete financial write-off. If donated, you will be issued a donation receipt by the new owner, which you can use when you file your tax returns to get some tax exemption, which even if slight, is still welcome.
Selling Car For Scrap – Conclusion
It is not an easy decision to scrap your car. And if you, the owner see the actual process in the junkyard where the entire car or two-wheeler is crushed and then dismantled to extract scrap metal, the experience can be a horrendous one. But vehicles have a limited life span and sooner or later, you either need to trade it in or think of selling the car for scrap. But if you follow some of the advice given, do your homework, ask around and make a wise and informed decision, then not only can you be spared headaches and inquiries later on, but can also walk away with a decent amount of cash in your pocket and a smile on your face.