Have an unwanted car sitting around the yard or garage? It might be an eyesore or a pile of cash in waiting. You will need to take a few simple steps to turn your old car into money.
Here are a few tips you may use when recycling a junk car:
• Make sure to remove all items of importance from the vehicle before salvage. Most recyclers aren’t gentle during the dismantling process and valuables left in the vehicle may find themselves discarded, incinerated or in the crusher.
• Confirm that the vehicle’s documentation is up to date and reflects correct ownership to avoid any potential legal issues down the road.
• Do a bit of research on the vehicle to ascertain its worth. Search on-line or speak with more knowledgeable friends as some vehicles may be in high demand for one reason or another, whether they be a classic model or have high value parts.
• Determine if it is better to sell the vehicle as a whole or as parts. At times, expediency is the enemy of profit. With some patience, mechanical aptitude, and entrepreneurial savvy, owners could become their own salvage yard by pulling down the vehicle and advertising the individual parts locally or on eBay.
• Consider an intermediary, such as a trusted mechanic or friend to handle the situation. Moving the vehicle to their location for either a full or part-by-part sale could cut down on any personal time spent having to manage the enquiries.
• Call around to get the best deal possible. Recyclers tend to pay by the weight.
• Search for a specialist. There may be salvage yards that specialize in the specific brand or model to be junked which may maximize the price.
• Look out for pick-up charges. It may cost to deliver, remove, or for the recycler to pick-up the car.
• Convert the vehicle to a tax right-off by donating it to a charity like Cars 4 Charity. They, like several other charities, accept salvage vehicles. If you follow the Internal Revenue Service guidelines, you could end up with either a $500 tax credit or that of the selling price, whichever is higher.
• Another man’s junk may be another’s gold so giving it away for free is an easy recycling option.
• Make sure to follow the local regulations in relation to recycling the vehicle.
• Look into environmental considerations. If there is no plan to operate the vehicle then drain it of the old fluids such as coolant and engine oil.