Are you trying to sell a junk car? You’re in good company. There are between 10-12 million cars that are scrapped each year, creating a big industry.
It may seem like a simple thing to do, but there’s a lot that you need to know before you sell your car.
Trying to sell your car without a basic understanding of how the process works can cost you money. Not only that, there are a lot of buyers who will try to low ball your car’s worth. Even if it is a junk car, it still has a lot of value.
How do you know if you’re selling your junk car to get the most out of it? Read on to learn the top mistakes sellers make when selling a junk car.
1. You Accept Less Than What the Car Is Worth
The biggest mistake that buyers make is that they think their junk car has no value because it’s junk. That’s not true. Your car has some value to buyers. Otherwise, the industry wouldn’t be a huge as it is.
You have to do a little research to find out the value of the car. Things like your location, the year, model, and make all play a role in the car’s value. Another factor is whether or not you have a clean title.
The more you know about how junk cars are valued, the better off you’ll be.
2. You Take the First Bid
It pays to be patient. You may want to get rid of your junk car as soon as possible. You may be in need of quick cash. That doesn’t mean that you should take the first offer that comes along.
That first offer could cost you quite a bit of money. You have an idea as to what the car is worth because you did your research. As long as you’re not in a hurry to sell, take your time a weigh a few offers before deciding on the best one.
3. Donating Your Car
Donating your car seems like an excellent idea. You get rid of your junk car, they tow it away, and you help out a non-profit. Plus, you get the tax write-off.
It sounds like a great deal, doesn’t it?
The thing to know is that charities often don’t see the benefits of these donations. You’re better off donating directly to the charity with cash.
4. Pay for Towing
Most junk car buyers will offer free towing. If they don’t you might be spending have of the money you just made from the sale on towing the car.
You’ll want to work with dealers who offer free towing.
5. Forgetting About Your Personal Items
You’re so excited about selling your junk car, it’s easy to overlook the little things. You have to do a clean sweep of your car before it gets towed away.
Do you have any accessories or add-ons like stereos or speakers? Get them out of the car. You’ll also want to get your personal belongings out of the car. Things like parking permits hanging from the rear-view mirror are easy to forget.
Check under the seats, the glove compartment, and the center console to make sure you got everything.
You’ll also want to remove the license plates from the car. In most states, when you sell your car, you need to return the plates to the DMV. If you leave the plates on, you’re going to have headaches with the DMV and your insurance company.
6. Title Issues
You may not have a title for your car or a clean title. If that’s the case, you’re going to have trouble selling your car because you can’t prove that you own it.
There are ways to sell your car without a title, like ordering a replacement title. You want to get this cleaned up before you sell a junk car.
One mistake to avoid regarding the title is signing it over before you get paid. Don’t sign it until you get the cash agreed to in hand.
7. The Buyer Suddenly Lowers the Offer
You have a buyer for your car. You have agreed to the price. It comes time to make the transaction and suddenly, the offer changes. Unfortunately, there are far too many buyers who will try to pull this stunt on you.
You may be tempted to take it just to get the transaction done. Don’t do it, you’re getting ripped off. Even if it’s only $100, the price you agreed to is the price you agreed to. Walk away from the deal if you have to. It’s better than dealing with a shady and lying buyer.
This is also why you want to wait to sign the title over to the buyer.
8. You Try to Sell for Parts
You may think that if you sell your junk car for parts, you’ll get more money than selling the whole car. That may be true, but think about the time it will take to do that.
First of all, you have to know which parts of your car are the most valuable. You then have to remove them and make sure that they’re in good working condition. You then have to sell the parts.
That could be the most time-consuming part of the process. You may get a buyer for one part and then another part. You may have car parts sitting on the shelf for months waiting for a buyer.
Your best bet is to save yourself the time and sell your car in one piece.
Need to Sell a Junk Car?
When you sell a junk car, you want to get the most value out of it. You also don’t want to spend too much time researching the value and figuring out if you’re better off selling for parts.
You just want it done. At the end of the day, you need to work with a buyer that can give you what you need – the best value, fast payment, and free towing. Don’t forget to do a thorough sweep of the car before you sell it!
Are you ready to sell your junk car? Contact us today for a quote.