At some point, everyone finds themselves at a time in life when they are ready to part with a car. The challenge then becomes figuring out what the best method for doing that is. Without a doubt, the most ideal situation is being able to trade in the old car for a new one. If, however, the car has been driven into the ground, chances of a dealer accepting it are very slim. At this point, the best bet is usually selling the car to a salvage yard.
Find the Right Salvage Yard
The first step in selling a car to a salvage yard is figuring out what that salvage yard needs to be able to provide. Does the salvage yard offer cash for junk cars or some other form of payment? Will they be able to come get the car or do they require the car be brought to them? While none of these options are necessarily better than the others, it is important to know whether the yard buying the car is able to provide the needed services.
Know the Vehicle
The next step in finding the right salvage yard is gathering important information about the vehicle to be sold. Some of this information includes the make, model, year, mileage, and whether the car has any problems. We do want to remind sellers that just because a car has a lot of mileage or comes with a lot of problems doesn’t mean the salvage yard won’t buy it. On the contrary, most salvage yards will even buy cars that don’t run! While the condition of the car doesn’t determine whether the salvage yard will accept it, it usually does determine how much they will pay for it.
What Determines Price?
The reason the condition of the car has any bearing at all on how much a salvage yard will pay for it is that salvage yards do different things with the cars they buy. If a car still runs, or only requires minimal repairs to get running again, a salvage yard will often fix and resell the automobile. If, however, the car is severely damaged or extremely old, the yard will usually just pull its parts and sell them to mechanics (hobbyists or otherwise). So, the amount a salvage yard pays for a car is directly related to how much they think they can get for it.
Don’t Be Afraid to Negotiate
A secret tip for sellers is that, in this situation, negotiating is totally acceptable and usually a very good idea. In most cases, salvage yards will quote a price lower than they are actually willing to pay. So, it is up to the seller to increase their profit. It is definitely worth trying!
Find the Right Price
After gathering the needed information, the best thing to do is call around to various salvage yards and see what they will offer for the vehicle as described. In most cases, the salvage yard and the seller come to an agreement about price over the phone. After finding the salvage yard that best meets the seller’s needs, the only step left will be scheduling pick up or delivery. It really is an extremely easy way to get the car out of the driveway and cash into the bank.
By doing these simple things, junking a car can be much more lucrative than is commonly thought. The key is knowing what the car is worth and finding the salvage yard that is willing to pay at least that or maybe even a little bit more!