Ways to Make Money off Your Old Car

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Winters are often seen as dangerous for the elderly and other vulnerable members of society. Winters are also bad for cars. Cars tend to kick out under the bad conditions brought on by the colder weather. If your car has started to give in, it might be time to get rid of it.

You want to make money from your car. Here are some of the ways you can do just that.

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Sell It 

This is the simplest method of getting rid of your car and making some cash at the same time. Brands like We Buy Any Car offer a simple way of selling your car quickly. You won’t get the same price as you would if you sold it on the open market yourself, but you can get some quick cash in a matter of days.

Alternatively, you could try selling it using classified ads websites. This will put you in direct contact with buyers. You might get the market price, but it might well take months to sell.

Scrapping It 

If your car is particularly beaten and battered, selling it might not be an option. Just because your car is broken doesn’t instantly make it worthless. Scrap yards will happily take the vehicle off your hands.

You won’t get a particularly large amount of money scrapping cars, but it’s still better than nothing. The metals in the various components of the car can be sold on by the yard for a profit. Scrap metal prices have never been higher, so there is a market for it.

In the event you still have any working parts, you might want to sell them on yourself. It doesn’t particularly matter how you do it. You’ll get the same price regardless. Consider using eBay, but using classified ads websites will do just as well.

Resale Value 

Sometimes we simply want to get rid of an old car because we want something new. Take your car into a local dealer and see what the resale value is. If it can be sold again, you can trade it in for credits. In other words, when you trade your old car in, the value you get from your old car will be transferred to the price of purchasing a new car.

It’s an easy way of getting a new car when you don’t have the money to hand to pay full price.

Make sure you choose the dealer carefully. Different dealers will place different resale values on the car. Furthermore, you’ll have to buy a new car from the same dealer you sell to. There are plenty to choose from, though. After all, the used car industry has grown back to pre-recession levels of 41 million cars per year, according to CNW Market Research.

Of course, some dealers still deal in cash, but many prefer to take away the resale value from the price of a new car.

Paperwork 

Always ensure you have the appropriate paperwork with you when you go to get rid of the old car. The used car industry has had to clamp down on illicit purchases, so they have to check everyone they deal with. If you’re unsure about what the dealer wants, either call them or just bring everything you can think of.

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James Patrick
James is a financial expert who has contributed several business and finance related articles. His expertise and first-hand knowledge of economics makes his blogs and articles informative and helpful for those looking out for guidance and assistance in matters related to finance. He has an active schedule of TV and radio interviews He is co-host of the popular VT Radio show Jim and Gordie Show. latest-articles-buttonJim comes from an old military family dating back to the American Revolution. Dozens of Confederate ancestors fought for the South in the War Between the States. Uncles fought in WWII and Korea. His father was a WWII P-40 and later P-51 Mustang fighter pilot. Vietnam found several uncles serving, a cousin, and brother Wendell as a young Ranger officer. His mother was a WWII widow at 16, her first husband killed with all 580 aboard when the SS Paul Hamilton, an ammunition ship with 7000 tons of explosives aboard, was torpedoed off the coast of Algiers. He has been writing, speaking and doing public relations, television, consulting and now multimedia work for a variety of American heritage, historical, military, veterans and Intel platforms. Jim’s only film appearance was in the PBS Looking for Lincoln documentary with Prof. Henry Lewis Gates, and he has guest lectured at the Army Command and General Staff School at Fort Gordon. Currently he is working to take his extensive historical video archives on line to assist his affiliated organizations with their website multimedia efforts, such as the Military Order of World Wars, Atlanta, Sons of the American Revolution, Sons of Confederate Veterans , Assoc. for Intelligence Officers, the Navy League, Georgia Heritage Council, National Memorial Assoc.of Georgia.

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