If you've been driving an old clunker and feel you are finally able to afford to buy another car, don't try to use your clunker for trade in value. Many car dealerships do not accept old clunkers as trade-ins or, if they do, they provide very little in monetary compensation. Instead, here are several things you can do to get rid of that junker and pad your wallet at the same time:
Part It Out
If you are mechanically savvy, part it out and sell the parts individually. Obviously, you won't be able to sell the damaged component of the car, such as the transmission if your clunker finally died because of a bad transmission. If the engine is good and runs strong, you'll likely be able to find someone to buy the engine. Body parts, tires, and wheels can also be sold as long as they are in good condition. Place online ads on Craigslist and in Facebook selling groups in your area.
Some parts are worth more if you sell them to recyclers, particularly catalytic converters. In fact, the catalytic converter may be worth more than any other part in your clunker, and may even be worth more than what a dealership would offer you as trade-in value of the entire vehicle. The reason for this is because catalytic converters have precious metals in them, particularly palladium, platinum, and rhodium. Other parts to sell to scrap metal recyclers include aluminum rims, alternators, starters, and copper wiring.
Whether you go through the process of parting your clunker out or simply want to get rid of the entire vehicle in one fell swoop, junk it. Sell your clunker to a junk yard or to a company that pays cash for junk cars. Typically, the cash that is paid for junk cars is determined by the condition of the car and the value of the scrap metal by weight.
Be sure to remove any and all personal belongings and effects from the vehicle before junking it. Many junk car buyers will not accept vehicles that have these types of things in them. More importantly, people may rummage through your personal belongings if your junker ends up in a junk yard, especially items that contain personal information on them, such as receipts from ATM transactions and financial and ownership documentation from your glove box. Be sure to look underneath the seats and in all the cracks and crevices to remove personal items.
Contact a company like Edison Automotive for more information and assistance.