Once your car is paid off, the hope is that it’ll last forever. But every car has a life span.
Your car can turn into an opportunity to earn extra cash if you sell it at the right time. Here’s an overview of how to know whether to sell your car or trade it in.
Is My Car a Junk Car?
What makes a car a junk car? There are three ways to know whether your car is a junk car:
- The car no longer runs and can’t be repaired
- The vehicle has no paperwork or registration
- Cost to repair is more than the value of the car
If your car meets any of the above criteria, it’s probably only worth money as a junk car. Under these circumstances, the car is valuable to buyers who want the car for its parts and not to use as transportation.
The amount you get can range from a couple hundred to thousands of dollars depending on the make and model of the car you own. Call a place that offers cash for junk cars to get a quote on your vehicle.
It’s not necessary to tow your car to the place for an accurate quote in most situations. There are places that offer cash quotes over the phone or online as long as you can provide enough detail on the car’s condition.
Some places will pick up the car once you decide on the cash offer that you want to accept.
How to Sell Your Car if it Still Runs
There are many ways to sell a working car. A common way to get a new car is to trade-in your old vehicle and apply its value to the purchase price.
This is a great way to avoid having to put money down on a new car. The amount you get from a dealership, however, can be much lower than what you’ll get from a private buyer.
Research sales prices of similar cars using online marketplaces to find out how much you can make. Dealerships are often strict about the types of cars they’ll accept.
Your car might have too many cosmetic issues to qualify for a worthwhile trade-in. Check at least through sales methods before making a final choice.
You never know when a buyer is looking for exactly what you have to offer based on their personal needs or preferences.
Is it Time to Sell My Car?
Unless you’re in desperate financial need, it’s a good idea to take your time when selling a car. You can sell your car and change your mind later, the title transfer is a permanent process.
Cash for junk cars is a less emotional process that is often easier to move through than a working vehicle because your options are few. Make sure you’ve thoroughly researched trade-in options before settling on the first deal you receive.
Dealerships are sure to put their own needs above those of sellers looking to trade-in a vehicle. For more information and tips, visit our blog for updates.