If you have an old clunker lying in your garage, you probably might want to make some extra money from it. But, if you are confused about how to do it; this article is perfectly tailored for you.
You might already know the options like disposing it off or fixing it and donating, but today we have mentioned some of the other methods of dealing with your old car.
Earn some extra cash with the old clunker lying in your garage
1. Dismantle it
You can quickly get cash for scrap cars by using its spare parts, as the scrap market is booming.
If you have a good understanding of car parts and your old gas clunker is nothing more than a burden on you, then you may opt to part it out. You can do it yourself – take out each piece, and find out if any of these are salvageable which you can sell for cash.
If you are not comfortable with the process or do not have time, and don’t mind spending a few bucks, hire a mechanic.
2. Junk the car
In case your vehicle is not in a drivable condition, and the only option left with you is parting it out then the next best solution is to junk it. How much you receive depends on the company, the specifications of the model, and the condition of your car.
Most of the car removal Auckland companies often pick up an old car from your doorstep, but that will fetch you lesser money. So, drive it to the company and earn good cash.
3. Sell it to a dealer
If your car is in stable condition, the first thing you should do is it to find out the specific model’s valuation in the market. Then find a dealer as they are mostly ready to pay you well. These people either they fix the car to sell it off for a profit, or they use the parts for repairing other vehicles.
But, your car must be in a working condition so that you can at least drive to the dealer.
Selling it off to a dealer is a good option when you are in a hurry as it is not as high as selling it privately.
4. Sell to it an individual
This is one of the best options as you get the best rate when you sell your car to an individual. Check out the used car market, find out the price of similar models, hire a mechanic who can do a fair evaluation of your car, and give you a price estimation.
With pictures and description, list it out on the numerous online portals.
Without any middlemen, you are more likely to get a price lot closer to Blue Book value. But, what you need is – a lot of time, and the deal might not strike off immediately. So, if you are thinking of purchasing a new car after selling off the old one, you should probably avoid this method.
5. Consign it
A new trend in the auto market is consignment, which is for those who want to sell their cars but do not have the time for it.
So, you consign the car to a third party, who fixes it, sells it on your behalf, and then hand over the cash to you after deducting their commission for the service. These companies are generally fair, and they charge a flat fee.
You can hand over your car to them with all the documents, and they will take care of the rest of the things. In fact, they also help you in selling a car which you are still financing.
6. Rent it
In some states, you can let your car on rent – so you can keep the vehicle and earn from it too.
Your car needs to be in a working condition, and you must have your documents in place. But, before you proceed with this option, check the regulations of your state, as we don’t want you to land up in any mess.