Are you thinking about trying to scrap your car for money?
That’s a fantastic idea! Not only will getting rid of your old car free up some space in your driveway, but it’ll also pad your pockets with some extra cash you can use toward a new vehicle.
At the same time, if you’ve never scrapped a car before, the process can be confusing. But don’t worry, we’ve got your back!
In this guide, we’ll walk you through everything you need to know about scrapping your old car, so keep reading.
Collect the Necessary Paperwork
Before you can profit off of your old vehicle, you’ll first need to prove ownership. It’s time to hunt down your title!
Not only does your car’s title prove ownership and registration, you’ll have to sign it over to the buyer to finalize the transaction.
So, what if you can’t find your title? Not to worry.
Hop online to your state’s Department of Revenue website and order a replacement. All you’ll need is your driver’s license number, proof of registration, and a payment method for the fee.
Expect to wait between one to two weeks before your new title arrives. However, it may be longer if you’re ordering right before a major holiday.
Consider Selling Your Vehicle Piece by Piece
Depending on the make, model, and condition of your car, it may be more beneficial to sell individual car parts instead of the whole vehicle.
Choosing to go this route means selling to private buyers. As a result, it might take longer to make money off of your old clunker. However, you could end up making more in the long run.
It’s a trade-off that largely depends on your vehicle and your ability and willingness to haggle. Some people don’t mind going back and forth with buyers to find the right price, just remember to be fair.
Sell Directly to a Business
While you could wait for an interested buyer to find you online, you’re better off selling directly to a company that specializes in purchasing junked cars. Not only do these companies offer fair compensation, they often offer free towing which can save you money.
These services are everywhere, so head online, type in ‘junk my car,’ and find the right service near you.
When negotiating with these companies, remember that most junking companies pay per pound instead of based on the make and model. As such, it might be difficult to gauge how much you can get for your vehicle ahead of time.
Scrap Your Car for Money Without Getting Ripped Off
Getting rid of a vehicle is never easy, whether it’s because of sentimental value or lack of interest. But rest assured, you can scrap your car for money without having to take a loss.
Follow these tips and don’t be afraid to haggle!
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