When it costs more money to fix your car than you think it is worth and you doubt anyone else may be willing to buy it, consider selling it to a junkyard. A lot of people find this idea intimidating, perhaps because of the mental images conjured up by the term junkyard. It could be a profitable decision, especially if you know what to look out for. Here`s a quick guide to negotiating with junkyards.
Beware of the Buying Tactics
For you to sell a car to a stranger, you would try to convince them the car is worth more than you`re asking. When dealing with scrap catalytic converter buyers and junkyard owners, their strategy is to convince you that your car is worth much less than it actually is. Without you doing your homework on the vehicle, you will buy into whatever the owner offers. Don`t fall for this trick.
Know the Value in Your Car
You may not understand the scrap business, but that doesn`t mean you don`t understand the value of your car. You will have to do some research, but if you find out what the average value you could make from your car at an auction, what kind of valuable parts still work, and the value in any recyclables, you will get a better estimate of what the scrap value could be for the vehicle.
Check Out the Blue Book Value
Look up what your car may be worth according to its Blue Book value. Even if it isn`t running, you will get a feel for what the car might be worth if it were able to be repaired. You can also use the value of the car to determine what kind of tax deduction you could get if you decided to donate the car to a charity instead. When you can show the owner of the junkyard the difference, they may be willing to raise the price.
Don`t get ripped off thinking your old car is junk. There is more value in it than you think. You just need to know what you are dealing with.