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Maybe it’s your first, or perhaps it’s your second. However long you’ve owned it, sometimes you own a car that’s just collecting dust.
Sometimes it difficult to decide what and how to get rid of an old car, but it’s doable. If you have a clunker hanging out in your garage, read on to discover the best way to get rid of an old car.
How to Get Rid of An Old Car
Old cars can retain their value, but it’s hard to determine which ones. Follow these steps to get the most money for old cars.
1. Talk to A Mechanic or Research Online
Before you do anything, it’s best to speak to an expert on cars, especially if your vehicle is in the vintage category. A mechanic or online platform can give you an estimate once you plug in the specifics of your car. Knowing the value of the vehicle is essential because you’ll be able to decide if it’s worth fixing or not.
2. Trade It In
One of the most natural and most widely used methods of getting rid of your old car is to trade it in for a new one. The value of your trade-in usually is applied to the cost of the new vehicle.
Though it’s an easier route, trading the car in doesn’t always yield the best deal. Typically dealers will give you a price for the car with little room for negotiations. However, if you’re ready for a new car anyway, you can avoid the hassle of dealing with the old vehicle further and trade it in.
3. Sell The Car
Selling the car yourself will likely give you the most money because you control the price. It’s important to be fair and truthful when listing your car as well, so be sure to research and check the car’s value before selling it.
This option comes with a lot of work. You’ll need to have it inspected, detailed, maintained, cleaned, list it, and gather all the necessary paperwork or forms. You’re also responsible for any listing fees and any other advertising tools you decide to use.
Also, it would be bad luck dealing with a buyer who didn’t follow through on the sale, so keep that in mind as well.
4. Sell it For Parts
If the car is entirely unusable or unrepairable, you’re not out of luck. Cash Cars Buyer states that many junkyards may be interested in the car’s parts or other scrap metal. If you’re crafty and economical, you could even scrap your vehicle and create some fantastic DIY projects.
Sometimes it just feels good to do the right thing. Donating the car might not get you a large chunk of change, but you can write it off on your taxes, and it goes to a good cause. Just remember, you can only write off what the charity makes if the car sells.
What to Do With My Old Car?
There are several options if you’re wondering how to get rid of an old car. Some take more time, but the best option is the one that works for you.
Are you looking for another way to earn or make more money? Visit our financial page to find out more!