The Value of a Junk Car – A Short Guide for Inexperienced Sellers

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It’s quite common for people to feel a strong attachment to cars. After all, their cars have been with them everywhere they go. But at some point, you may need to let go of your older model to give room to a newer and more functional one. Instead of leaving your car unattended on your property, think about selling it. You can potentially earn thousands of dollars for your old auto. This way you can raise funding for your next purchase. Below are the key factors that buyers look at when assessing the value of an old car.

The model, make, and manufacture year

Three of the main things that buyers of junk cars in Fort Lauderdale look at are the car make, model, and manufacture date. The shop owner will ask for your car’s paperwork in order to have a full grasp of the item for sale. Most shops have a list of pricing for various models and makes. They used that pricing guide and their assessment of the vehicle to provide a quote.

The total weight of the scrap metal of your vehicle

Sometimes, if the car is beyond repair, the car buyer can quote for the total cost of scrap metals. An average car can have around 300 lbs. of aluminum and 2400 lbs. of steel. You can sell that for a small sum at your local junkyard. They can use your metal parts again to manufacture all sorts of things such as car parts, furnishings, and house decor.

Your location

The demand for certain car parts and models tend to vary depending on the location. That’s why it’s good practice to ask around first before you sell your vehicle or its spare parts. See to it that you compare the prices around your locality as well as neighboring cities so you can find an ideal selling price.

The overall condition of your vehicle

The majority of old cars are sold off because their parts no longer function. Most of the time, it cost so much more to have the issue fixed than paying the down-payment for a newer and more functional model. If you’re selling your auto for the same reason, then you should definitely set a more realistic expectation for the selling price.

In most cases they accept junk cars for no more than 40 percent of the original purchasing price. If your car is too old and worn out, then you shouldn’t expect the purchasing price to go over 20 percent of the original value of the vehicle. Use your negotiation skills when selling your car so you can get the most out of it.

Key takeaways

You’ll never know how much money you can get out of an old car until you have it assessed by a buyer.  If you’re planning to buy a new one, then you might as well consider selling your old auto so you can have a bit of wiggle room in your budget. Use the guide above when negotiating the selling price of your vehicle.

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