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Reasons Why Junk Cars Can Be an Investment
Not sure what to do about a junk car rusting on your property? You’ve probably seen plenty of signs advertising, “We buy junk cars in Florida,” but may not know exactly how the system works or just how easy it is. The fact is, you might be able to get more money than you’d expect from your old car, no matter what condition it’s in.
What Is a Junk Car Worth?
You can’t always determine the value of a junk car from a resource like Kelley Blue Book, since it’s hard to factor in how all the damage will affect the price. There are 2 main ways to get money from junk cars: selling any working parts or selling the metal to be recycled. Businesses that pay cash for cars in Florida know that they can often make a profit by adding your vehicle to an auto salvage yard and selling your car piece by piece to customers looking for used parts.
Before you sell your junk car, it’s always a good idea to see if you can sell any of the parts for a profit on your own. For instance, if you have custom hubcaps or a tricked out new sound system, you might be able to sell them to private buyers for much more of a profit.
What Types of Cars Can You Sell?
Junk yards will take just about any vehicle in any condition. One important thing to keep in mind is that junk yards don’t usually pay more for high-end vehicles. It actually tends to be the opposite: the more common your car is, the greater demand for its parts. Since the salvage yard will be more likely to make a profit off common cars, they’ll be more likely to pay you a higher price.
Where to Sell Your Junk Car
There are plenty of people who will buy junk cars in Florida. Some individuals will buy junk cars in order to restore them–either as a hobby, or to sell them for a profit later on. However, your best bet is usually to visit junk yards in your area and find out what they’ll pay you for your vehicle. Look for salvage yards or signs that say, “We buy cars in Florida.”
Benefits of Junking Your Car
Selling your junk car is a convenient way to make money quickly. Junk yards buying a car with cash in Florida will typically give you your money on the day you drop your vehicle off, unlike getting a loan from the bank, which requires a lengthy waiting period.
What Do You Need to Junk a Car?
Selling your junk car is a fairly straightforward process. Make sure you have the vehicle title to make the process go as smoothly as possible. However, in many places you can sell vehicles–especially older ones–even if you no longer have the title. Once you agree on a price with the junkyard, you can arrange for delivery of the vehicle and pick up the cash that day. Most salvage yards will include free towing if your car isn’t able to be driven.