Does your car need a new engine, a new transmission, or another new part that’s going to cost you a small fortune?
You might be wary about dumping a bunch of money into your broken vehicle. And you should be!
The sad truth is that most of these kinds of repairs are going to cost more than your car is worth. It’ll make you think twice about paying to have them done.
Instead of fixing up a beater car, you should strongly consider selling it to make a profit. Believe it or not, you might be able to sell an old car and get a nice chunk of change for it.
Here are some tips on how to turn a profit with your broken-down vehicle.
Consider Selling a Broken Vehicle “As Is” to Whoever Makes the Best Offer
When you first decide that you want to get rid of a broken vehicle rather than fixing it up, you should try to see if there is a market for it in your area.
You should either stick a “For Sale” sign on your car or, better yet, list it for sale online. You should also make note of the fact that you’re selling it “as is” to whoever can provide you with the best offer.
This might not seem like it would drum up much interest in your car. But it’s actually a very effective way to unload a broken vehicle.
Lots of people will swoop in and try to make you offers for it. You’ll be able to pit them against one another in an effort to get the biggest profit that you can.
Remove Valuable Parts From a Broken Vehicle and Sell Them One by One
Because your broken vehicle doesn’t run, you might initially be under the impression that it’s worthless. But the simple fact is that your car—running or not—is filled with potentially valuable parts.
For example, the catalytic converter that’s in your broken vehicle could be worth a pretty penny if it’s still in decent shape. Your airbags, your fenders, and even your battery could also be worth something.
With this in mind, you might want to kick around the idea of pulling parts from your junk car and selling them one at a time. It’ll be a time-consuming process, but it could help you make some serious cash if you’re willing to put a little bit of work in.
Tow a Broken Vehicle Down to a Junkyard and Scrap It for Cash
There are thousands of junkyards scattered all across the country at this time. And just about all of them would be more than happy to buy almost anything that you want to sell to them.
This is going to include the broken car that you’re trying to convince someone to take. They’ll usually be thrilled to take it off your hands if you can tow it to them.
But just a warning: A junkyard might give you a very low offer for your car if you’re not careful. It could reduce the profits that you’re able to pull in for it.
If you call around to a few different junkyards, you might be able to stir up some competition among them. It could lead to you making more money for your car than you may have originally imagined.
Contact a Junk Car Buyer and Ask Them to Purchase a Broken Vehicle
All three of the suggestions that we’ve made thus far with regards to selling a broken-down car for profit are great. But they’re each going to require you to do your fair share of work.
That won’t be the case when you sell a broken car to a junk car buyer! A good junk car buyer is going to make it super simple for you to sell a car to them. They’re also going to put cash right into your pocket when you do it.
To sell a car to a junk car buyer, all you’ll have to do is:
- Find the best junk car buyer in your area
- Let them know that you’re interested in selling a broken-down car
- Tell them the make and model of your car and the year it was made
- Receive an offer and decide whether to accept or reject it
- Arrange to have broken car removal done if you accept an offer
Want to learn more about how this process works? Visit cashcarsbuyer.com/ to gather additional information.
Donate a Broken Vehicle to a Charitable Organization
Technically, you’re not going to be able to make an immediate profit by donating a broken vehicle to a charitable organization. It will, after all, be a donation on your part.
But when you make the decision to donate a car, you’re going to get your hands on paperwork that will allow you to write it off as a tax deduction. This could very well help you save some money on your taxes the following April.
If you attempt to kick a broken vehicle to the curb by donating it, just make sure that you pick the right organization to donate it to. There are some organizations that aren’t going to have your best interests at heart.
These Are Just a Few Ways to Make a Profit From a Broken Vehicle
Your broken vehicle might not look like much at this point in its life. But that doesn’t mean that it doesn’t still have some value to it.
As you’ve seen here, there are lots of ways in which you can turn a profit with it. Think about which option might work best for you and run with it. It won’t be long at all before you’re padding your pockets, thanks to your junk car.
Are you interested in reading more articles about dealing with cars that are on the older side? Go find them by poking around on the rest of our blog.