How Can I Get Money For My Old Car

How Can I Get Money For My Old Car

Do you have an old vehicle just standing in your garage, taking up valuable space? Not knowing how to get rid of it can be tricky. Let us tell you that this old and rusty car is worth a lot more than you think.

Yes! Even if it is no longer road-worthy.

But do you send this car to the scrap metal yard, sell it, or just give it away?

This article will discuss how your ticket to a handsome amount of cash might be just outside your door. Let’s see what you can do with a car that is of no use anymore.

How Can I Get The Most Money For My Older Car?

You will be surprised to know that there is a great market for old cars even if they are not running. And thus, the same old car can be your way to haggle the most money.

There are scores of options to get rid of an old vehicle. Still, the best way to go about it is to assess all your options properly. That helps you make an informed decision about how to sell your car and meet your objectives.

6 Ways to Get Rid Of an Old Car

When an old car starts compromising your and your family’s security, it’s time to get rid of such a car. And not to mention, you should start working on an action plan that helps you put good cash in your pocket.

Options are plenty for selling a car. However, here are the best ones you can choose from based on what’s your end goal:

  • Trade-In The Car

A great option for disposing of a vehicle is trading it in for another car.

A lot of companies offer the option of trading in a car for a brand new one as payment. These companies need certain cars’ models and characteristics, so they give you a trade-in option.

The value of a trade-in is the amount your dealer will offer you for buying a new vehicle in exchange for the current one. Usually, the trade-in depends on your car’s market value.

Here are the factors that help decide the trade-in value of your car:

  • The popularity of your car’s model and make
  • The condition & age of the car at the time of bringing in for trade
  • The number of similar vehicles already on the dealer’s lot

 

  • Barter the Car

Barter is the least used option by the sellers, but this is also a quick solution to your problem. It means exchanging your old car for another one on equal terms.

But barter has a few drawbacks, like you may get a car lower than yours in exchange. But the process eliminates the middle man from the whole thing.

  • Donate the Car

Donating a car is an easy and quick way to get rid of an old car. You can put your used car towards a good cause.

Programs like donate your car help raise funds for the causes you care about. Giving away your car for donation is easy. You contact them. They pick up the vehicle and auction it.

The proceeds go for the cause and help save lives.

  • Dismantle the Car

Australia has large markets dedicated to buying and selling used car parts in good condition. You don’t even need a permit or license to dismantle a car.

A professional should do the dismantling job. All auto parts have their value. You can even make money from selling the tin.

A younger car part can get you more money. The more the demand for an auto part, the more cash you will make.

Here are the most sought-after car parts:

  • Doors
  • Fenders
  • Airbags
  • GPS system
  • Catalytic converters
  • Rims
  • Oxygen sensors
  • Brake discs
  • Radiators
  • Fuel pumps
  • Battery
  • Widescreen

 

  • Sell the Car Privately

Selling a car privately in paper or online is also an option. It can even bring more money than trading in a vehicle.

If your car is registered and still running, you can make good money by selling it privately.

However, this method can be hectic. You have to post the ads and then respond to queries and make time for strangers visiting your house to have a look at the vehicle.

If you want to sell the car quickly, then you might have to take a step back and consider other options.

  • Sell Car for Cash

An ideal way to sell a car is through cash for cars service. If your car is at the end of its useful life and no longer in a condition to drive, you can sell it for cash without lifting a finger.

Cash for cars is your best bet if you want to earn big while saving the environment. These companies buy your car for cash, then disassemble it and recycle the usable parts.

Moreover, if you are in a hurry or dreading the selling process, cash for cars is the best option.

When Should You Retire A Car?

No matter how much you love your old car, there comes the point when selling your vehicle becomes unavoidable.

But how do you know that it’s time to sell the oldie? There is no hard rule, but here are a few signs that point out that it’s about time that you replace this car.

  • The car repair costs have started to exceed your car’s current value.
  • Your car no longer seems safe to drive.
  • The service engine light of the car is on frequently.
  • Your car isn’t working with your current lifestyle anymore.
  • Your car’s fuel tank is draining quickly.
  • The safety features of your current vehicle are outdated.

What To Do With A Car That Is Not Worth Fixing?

Compare the cost of repairs to your vehicle’s current market value. If repair cost outweighs the value, your car is not worth fixing.

Therefore, you should donate it or sell it to an online buyer, dealership, private buyer, or a cash for cars service.

What To Do with Old Cars that Don’t Run?

If a car no longer runs, the question arises what to do with it? You can sell it to a dealership or a cash for cars service, depending on your financial objective.

If you want to choose a hassle-free way, you can choose Speedy Cash for Cars. We offer quick cash and the free car removal.

What Should I Do With My Old Car: The Final Verdict

Even if your old car is just a hunk of metal, you can turn it into cash. The best option for quickly selling an old car is to sell it for cash to a local company like Speedy Cash for Cars.

But there are also other options like donation, selling it privately or to a scrapping yard. Depending on your end goal, you can choose the option that suits you well.