Your car’s old, so you don’t owe anything on it and it doesn’t owe you anything. But even though it’s old, beat up and barely working most times, it won’t take a ton of cash to get it going…at least, for a little longer.
On the other side, it’s throwing good money after bad. Whatever you do to it isn’t going to increase its value much, and there’s no guarantee something else won’t immediately break on your piece of junk car. What should you do? Maybe you just sell it. But then you’re answering the question in your head, “Should I repair my car before selling it?” Again, Catch 22. You’ll need to sink some money into it to sell it, and sometimes car repairs cost more than car is worth. There’s a good chance of that for your heap of nuts and bolts.
Putting money into repairs on a junk car will not often yield returns when selling it. Instead, selling your junk car online might be the best cash value you can get.
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Here are a handful of tips to help you choose: should I fix my car/fix my truck, or should I sell my car instead?
Should I Fix My Car?
You might be able to fix your car so you can use it again, sure. Some issues are minor and can be relatively inexpensive to fix. Maybe you need a wheel hub replaced, a wiring repair, or your brakes changed so your car is safe to drive again. For a few hundred bucks, you might be able to get a car fix, even if it’s temporary. It buys you more time to make the right long-term decision.
Car Repairs Cost More Than Car is Worth
If you’re driving a beater, though, you’ll find many car repairs cost more than the car is worth. No, really. It doesn’t take much between the price of parts and labor.
For example, a blown engine, a head gasket leak, a slipping transmission, or an engine computer are all way more expensive to fix than most junk cars are worth. And let’s get one thing straight: by spending that money, you are not doubling your car’s value, no matter what you might think.
If the repairs are worth more than the car itself, regardless of the year, make, and model, it’s not worth it, and you should just junk it.
How Can I Get My Car Fixed with No Money?
On a budget? Spend the last of your scratch on the ponies, or pick red on the roulette wheel? Wondering if there’s a way you can get your car fixed without any liquid assets? There are two answers:
- Take out a payday loan. You can borrow money to pay for your car fix, but it’s going to cost you WAY more in the long run. Payday loans charge several times more in interest annually than the money you borrow.
- The other answer is simply no. Unless you’re a magician. Then maybe.
Should I Sell My Car?
If you’re a normal, level-headed person, there are only so many old, beat-up car issues you can deal with before you just sell it. Is your car not worth repairing, or has it left you stranded too many times? Bail on your heap of junk and make it someone else’s problem – sell it!
If you have a car that has issues, you can immediately discount the price. A blown head gasket will cost the new owner hundreds or even thousands to fix. A replacement transmission? Even a used one could be $1500 with labor, or more.
And unless someone wants your car for parts, there aren’t many ways you’ll sell your car for more than its value in scrap metal. Plus selling a car for parts can be a hassle.
Should I Repair My Car Before Selling It?
Hey, if you like to gamble, go for it – fix your car now before you sell it. But here’s the problem with that decision. With most car problems, you’ll get a repair estimate. It’s only an estimate, though, and the price can increase. With old, crappy cars, there’s a high likelihood the repair estimate will climb while the repair is in progress – much too late to stop the job and junk it instead.
If you have the time, space and knowhow to do it yourself, it’s a different question. But if you’re like most people, you don’t have all three of those things. Plus, what’s your time worth? Do you want to spend it fixing a rusty junkpile to save a few dollars?
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Do I Junk My Car Instead?
You know, the smart decision you can make is often, “I think I’ll junk my car.” If you find your car too expensive to repair, you don’t trust it anymore, or you don’t have any money to fix it, you can just junk it.
There are benefits to junk it instead of deciding to fix car now. Junking a car is almost like selling it – you get money for it, and it’s no longer your problem.
Signs You Should Just Junk It
Not sure if your car is worth another chance (yet again)? Or are you leaning toward sending it to the junkyard? Here are a few signs you should just junk it.
The engine won’t stay running. - The transmission slips or won’t engage in drive or reverse (or both).
- There’s white or black smoke from the tailpipe.
- There’s smoke from under the hood.
- Your car’s exterior is badly dented.
- You’ve been in an accident and it hasn’t been fixed yet.
- The engine overheats or won’t start.
- Your car shakes violently while you drive.
- You don’t feel safe when you go anywhere and won’t carry passengers because of it.
I think you get the idea. If your car isn’t trustworthy, the repairs cost more than your car, you can’t afford the repairs, or your car isn’t safe, you might want to just junk it.
The Damaged Cars Solution
If you’ve decided to junk your car, there’s a better option than calling all your local junkyards. Damaged Cars is the best way to get a fair price for you junk car, and it’s the best way to sell it fast. You’ll receive a guaranteed offer in about 90 seconds with Damaged Cars. If you accept the offer, you’ll receive a check for the price you were promised, and your car will be picked up from wherever it is at no cost to you. It’s easy, it’s fast, and it’s free to use Damaged Cars!