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How To Get Cash For A Broken Car
If your car is broken down, you may wonder what your options are for getting cash for it. In fact, there are still a few ways you can sell your car and get paid. However, your options depend on how extensive the damage is and what type of damage it is.
For instance, if your vehicle needs a replacement engine or transmission, that could cost thousands of dollars to complete. Depending on the value of your car, it may be worth completing the repairs or you may need to junk your car for its scrap value instead.
If your car was severely damaged in a car accident, there’s a good chance you will only be able to scrap it or sell it for parts. However, if you are experiencing mechanical issues or electrical issues, you may have more of a chance of rebuilding and reselling it. Of course, you will have to keep the cost of rebuilding it in mind.
Here’s how you can get started selling your broken car for cash.
Assess The Vehicle’s Value
First thing’s first: figure out what your car is currently worth, and what it would be worth if it ran. You can use features like Kelley Blue Book, as well as searching local used car sales in your area, to determine what the going rate for your vehicle is.
One thing to keep in mind is you should assess the condition of your vehicle honestly. Do not compare vehicles in good or great condition to your car if your car is broken down — it’s not worth as much, no matter how much you love your car.
Additionally, take some time to check out what your vehicle would be worth if it was in good shape. In other words, get an estimate of what it would go for if you put the required work into it. You might be surprised how large - or how little - the difference is.
Get A Repair Estimate
Once you know how much your vehicle can sell for in its current condition and after repairs, bring it to a mechanic. Ask for an assessment of what work is required and an estimate of how much it would cost to perform the necessary work.
Consider asking for estimates for what it would take to get it in running condition, and what it would take to make it top-notch again. If the estimate is lower than what you can get for it after repairs, it may be worth completing them. However, in most cases the cost of repairs will exceed the benefit you will get from it in a sale.
Instead, you can use the estimates as a bargaining tool when talking to buyers. Someone who wants you to knock $2,000 off the price because of work required can be talked back up if you can show that repairing the car will only cost $1,000.
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Start Selling Your Broken-Down Car
Once you know what your car’s current value is and how much it would cost to repair it, you’ll have an idea of what you can get and how much you can sell it for. Now you have a few options: you can sell it for parts, sell it privately to an individual, sell it to a junkyard or scrap yard or sell it online.
Depending on the shape your vehicle is in, selling it for parts can theoretically net you more money than selling it as a whole vehicle would. However, it requires knowing how to disassemble your car and then advertising each part individually. It could take months before you finish selling all the pieces, blunting your financial gain.
You can also sell it to a private individual. However, this typically involves a lot of haggling as individuals buying a broken-down car know that it will require lots of work to get it in working order again. Additionally, you will need to schedule times that individuals can come see the vehicle as well as figure out how the vehicle will be transported away.
Junkyards and scrap yards will generally pay you for the scrap metal value of your vehicle. However, you may be able to shop around to get different price points. One thing to keep in mind is that some yards may have hidden fees or charges. For example, ask whether or not there is a charge for towing your vehicle.
Finally, you have the option to sell your car online to DamagedCars.com. This is the easiest way to get rid of a broken car for cash.
Why Sell To DamagedCars.com?
At DamagedCars.com, we specialize in buying less-than-perfect cars, no matter what shape they’re in. We offer FREE towing and FREE title transfer, and you won’t have to worry about any hidden fees or charges. Using our service is completely free.
All you have to do is click “get an offer” and provide us with information about your vehicle, including the damage to it. It takes less than 90 seconds to complete the form and get a quote. If you like our offer, we can help you schedule your free pickup in under 48 hours. The tow truck driver will arrive with a check in hand, and you’ll be paid on the spot. You don’t even need to leave your house.
Not quite ready to sell? That’s okay too. Offers from DamagedCars.com are guaranteed for seven days, so you have time to think it over. Once you’re ready to sell, all you have to do is get back in touch with us to schedule your pickup. There’s no haggle, no fuss and no worry.
Selling to DamagedCars.com is the fast, safe and easy way to get cash for your broken down car. Why wait? Get started today.