We all have been there, having an old car in the garage that becomes a hassle to own and operate. That car has been signed over to you when your friend moved, or the one you and your spouse thought you would enjoy restoring but never had the chance to. Well, most car owners will rush in getting rid of it and quickly free up garage space by trading it in, which might not be the best decision from a financial point of view. Here are some options to consider if you want to make more money out of your old car:
Sell your car instead of trading it in
Try selling it yourself through a private market rather than a dealership option. That will get you the most out of your car as it can help you earn up to 25% more than the dealer’s price.
Today, you do not need to deal with dodgy car dealers and scammers anymore. Online car markets have become well-known and diverse; not only can you sell your old working car, but you can also sell non running cars, damaged, and even wrecked cars. Conveniently enough, most private online companies will provide you with a quotation.
There are more cars advertised online than anywhere else, having a great impact on the car resale market, as prices became fair and stable, which will make it easy for you to know your car selling budget.
Here are some tips that will help your running car make a fast sale:
- Fix only what is necessary
- Polish every detail
- Communicate with the buyer about the exact car condition
- Show your buyer the extra paper for an extra chance: user’s manual, car’s manufacture brochure, and maintenance records
Dismantle your car and sell the parts
What if your car is not attractive enough to put up for sale? There is value in each and every detail of your car. If you have the space and care to have the knowledge on how to remove all valued parts from your vehicle, then go ahead. Parts like sound systems, windshield, trim pieces, axels, light and engine parts, will make you good money.
So how can you sell those parts? You can find part pickers, car hobbyists in your neighborhood, or you can sell it online. In all cases, value your pieces by looking at other sellers online.
What should you do with the car body? After stripping everything out of it, it’s time to call the local salvage yard to take that metal away. They will most likely not charge you for taking it away if what is left can be sold for scrap metal.
Transform your cheap car’s Value
Consider exchanging classic cars for extra cash. Some people make a career out of this while others make a hobby out of buying lower priced cars. With simple maintenance, a paint job, new flooring, and seat covers, they resell those cars at higher prices.
Consider all your options when buying or selling cars; there are many different routes you can take to make more money out of your old car. Whether you exchange it, sell parts, or even sell the whole car, you’ll definitely make some cash.