Getting rid of your car is never an easy decision; especially it has served you and your family well for many years. However, as is only natural, with time, the cost of maintaining it rises, and it becomes a bother to ensure reliability. If you have held on to your car for too long a time, you will not be able to trade it in for a new car. The only thing you can do is to junk it. The good thing is that even if the vehicle is no longer serviceable, you can still get good money by selling it to a junk car dealer or salvage yard. They buy junk cars to salvage the steel and other valuable components that can be reused and recycled for profit. Since the market for junk cars is unregulated, the price you can get for your old vehicle will depend on various things, including your ability to correctly value your car and deal with a reliable junk car dealer. Some of the top things you can do to ensure you get the best price for your junk car:
Get Your Vehicle Evaluated
Before making up your mind to junk your car and start looking around for buyers, it is sensible to consult an independent car mechanic to evaluate your car. You can find out whether you can easily and inexpensively repair it to prolong its service or to trade it in. The mechanic will help you identify parts, components, and accessories that you can remove to sell independently, if the inspection does return a verdict that you would be better off by junking the car. The mechanic will also help you arrive at a fair valuation you can use to negotiate with the salvage yard so that you don’t get cheated.
Look Around for the Best Offer
If you are keen to get the best price for your vehicle, striking a deal with the first salvage yard you come across may not be sensible. You will get more lucrative offers if you take the trouble to look for dealers that will pay close to what the car is worth. To help you to understand how much you can potentially get for your car, you need to make a market assessment. A higher offer may not necessarily be better if the dealer is far away and you are responsible for delivering the car to them. If the vehicle is not in running condition, you can end up spending a hefty amount on towing charges. When negotiating with junk car dealers, you should ask whether their offer means cash in hand or you need to bear any expenses. If the dealer offers a towing service but will charge you for it, you may be better off by arranging the towing yourself. A reputed junk car dealer like https://www.junkcargenie.com/ will be clear about the terms of the sale upfront.
Remove Valuable Parts and Accessories before Selling It
Junkyards make money in two ways; they extract the steel, wires, and plastic components to sell as scrap for recycling and they may also be selling valuable parts, components, and accessories to car owners who cannot afford to buy new stuff. If the junkyard you are dealing with is interested only in the scrap value of your car, it can be a good idea to remove accessories, parts, and components. You can sell them independently either to a dealer of parts or individually, piece by piece on an online marketplace. Some of the typical things you can consider removing from your junk car include wheels and tires, alternators, batteries, starter motors, seats, windshield, headlights and taillights, and accessories like music systems, security systems, and navigation systems. You must the items safely because it can take quite some time to sell them off.
If you do not want to take the trouble and effort of stripping your car and selling the parts and accessories yourself, it is better to hunt out a salvage yard ready to buy your vehicle for scrap and parts. The mechanic’s evaluation will help you identify the valuable parts and accessories so you can negotiate better.
Cancel Your Insurance Policy
Now that you have decided to junk your car, you must also cancel the existing insurance policy to avoid being charged automatically at the time of renewal. You can call up your agent or the insurance company directly and explain why you do not need the policy coverage anymore. You can request a refund if there is time left for the policy to expire. Alternatively, you can ask the policy be transferred to a new car if you are buying one to replace your junked vehicle. Typically, such transfer requests need to be made within 30 days. According to Forbes, driving a car without insurance is illegal in most places. By staying with the same insurance company, you are likely to get better rates that can represent a handsome saving over a policy from a new company.
Staying Calm and Composed During the Sale
Salvage car dealers tend to negotiate hard and generally offer you low prices when you contact them. You should not be taken aback by these tactics and prepare to bargain hard for better prices. By knowing the make, model, and year of manufacture of your car, its condition, and having all the documentation at hand, you will be able to bargain better. You mustn’t appear desperate and be prepared to walk away from lowball offers. Make sure that you have all the documents because otherwise, the dealers will use it as an excuse to drive down the price.
While these are all valid and effective strategies to get the maximum price out of your junk car sale, there is only so much time and effort you can devote to the exercise amid your hectic work schedule and family life. You can make the process easier and less stressful while remaining confident that you will get good value for your junk car by approaching established dealers who have a good track record and a reputation they need to protect. You will normally find them more approachable, and their processes will be more transparent and not geared to cheat you.