Posted on: 7 June 2021
Selling your car to a junk car buyer is by far the quickest and easiest way to convert an old clunker into a financial windfall. While the process for handing over your keys is undoubtedly straightforward, there are still a few pitfalls that can impact your resale value. Avoiding these three potential traps will help to ensure that you get top dollar for your beater.
1. Trying to Time the Market
An old beater's primary value lies in its scrap metals. Your car contains thousands of pounds of common and significantly less common materials, including small quantities of high-value metals in the catalytic converter and electronics. Since the bulk of your offer will come from the value of these materials, it can be tempting to try to time your sale with the ups and downs of the scrap market.
Unfortunately, this may end up costing you more money than it will earn you. Junk buyers are also interested in stripping your vehicle for parts, and letting your car sit and rust away can reduce the value of functional components. It's also challenging to determine the perfect time to sell, and the price offered by a scrapyard may not even reflect immediate market prices.
In most cases, selling sooner is almost better than selling later. Not only do you get an old car off your property, but you'll ensure that you don't lose money by letting valuable components rot away.
2. Not Properly Preparing for a Tow
Most scrap buyers will arrange to send a tow truck to pick up your old car. Having this process handled for you is convenient, but it also means that you need to be ready for the driver. For example, if your vehicle is inaccessible, the driver may need to take special steps to get it onto their truck. Even worse, they may need to leave and come back another day if the vehicle is unrecoverable.
Always ensure that a truck can reach your vehicle with relative ease. If there are any special considerations, such as flat tires or missing wheels, be sure to let the scrapyard know in advance. Most junk car buyers know how to handle these situations, but they may need to make special preparations.
3. Providing an Inadequate Description
One of the best parts about selling to a scrap buyer is that you don't need to deal with tire kickers and no-shows. Instead, you'll typically describe your vehicle in detail and receive an offer by phone, eliminating most of the hassle of selling a car. But, unfortunately, the scrapyard may rescind or adjust their offer if your description leaves out essential details.
To get the best value for your car, always describe its condition in as much detail as possible. Try to include information about missing panels, damaged windows, or any parts that you've removed. The more information you provide, the more accurate your final offer will be.
Contact a buyer who can offer you cash for your junk car for more information.Share