How to Sell a Car for Scrap
Old, inoperable vehicles that have no market value are often worth something to salvage lots that pay cash for junk cars. If you have an old jalopy sitting in your garage or driveway, why not liquidate it to a salvage lot and earn hundreds of dollars for a machine that you never use? If inexperience is standing in the way, rest assured: it isn't that hard to sell a car for scrap. By following the rules below, you can sell a car for scrap like a professional.
Establish a Fair Price
Establishing a fair price for an inoperable vehicle can be challenging, as there are no official resources for pricing cars that have no market value. Because sellers can use this fact to their advantage, the best way to establish a fair price is to receive offers from more than one salvage lot. Receiving three offers is usually sufficient to establish a ballpark value for a derelict vehicle. Although it may not run, the vehicle likely contains several operable parts.
Arrange For Free Towing
Some businesses that offer cash for junk cars may hit you with a towing fee for removing the automobile from your property, while others will offer towing services free of charge. Because towing a vehicle could easily cost hundreds of dollars, it makes no sense to sell it and then hand over the money for a service fee. Before you agree to have a salvage yard remove the vehicle, be sure that it offers free towing and is willing to state this in the sales contract.
Get Paid On the Spot
Another way that disreputable salvage lots rip people off is by promising to pay them later. Because selling your vehicle requires you to sign over its title to the buyer, you should be paid when you hand over the title. This is one reason why salvage lots offer cash for junk cars instead of sending sellers a check in the mail. Because they own the vehicle after receiving the title, they should promptly pay for acquiring it. Before a salvage yard sends a tow truck to your property, be sure that it agrees to pay you cash on the spot.
Conclusion
If you plan to sell a car for scrap to a salvage yard, be sure to establish a fair price for the vehicle, arrange for free towing, and arrange to get paid on the spot before you have a salvage yard dispatch a tow truck. By taking these measures, you can profit from liquidating an automobile that seemingly has no value.
Establish a Fair Price
Establishing a fair price for an inoperable vehicle can be challenging, as there are no official resources for pricing cars that have no market value. Because sellers can use this fact to their advantage, the best way to establish a fair price is to receive offers from more than one salvage lot. Receiving three offers is usually sufficient to establish a ballpark value for a derelict vehicle. Although it may not run, the vehicle likely contains several operable parts.
Arrange For Free Towing
Some businesses that offer cash for junk cars may hit you with a towing fee for removing the automobile from your property, while others will offer towing services free of charge. Because towing a vehicle could easily cost hundreds of dollars, it makes no sense to sell it and then hand over the money for a service fee. Before you agree to have a salvage yard remove the vehicle, be sure that it offers free towing and is willing to state this in the sales contract.
Get Paid On the Spot
Another way that disreputable salvage lots rip people off is by promising to pay them later. Because selling your vehicle requires you to sign over its title to the buyer, you should be paid when you hand over the title. This is one reason why salvage lots offer cash for junk cars instead of sending sellers a check in the mail. Because they own the vehicle after receiving the title, they should promptly pay for acquiring it. Before a salvage yard sends a tow truck to your property, be sure that it agrees to pay you cash on the spot.
Conclusion
If you plan to sell a car for scrap to a salvage yard, be sure to establish a fair price for the vehicle, arrange for free towing, and arrange to get paid on the spot before you have a salvage yard dispatch a tow truck. By taking these measures, you can profit from liquidating an automobile that seemingly has no value.
