3 Ways to Get Money for Your Old Car
If you have an old, near-worthless vehicle, you can usually make a few extra hundred dollars from it by doing some research and using a few simple online tools.
Here are a few ideas to consider when getting rid of your old car.
1. Car donation.
You won’t get any cash for donating your vehicle, but with Donate Car USA, you can get papers that prove the value of your donation. At tax time, you can deduct your donation to save yourself a nice chunk of cash.
Dozens of charities take car donations, including many well-known national organizations and clubs. Even if your car isn’t running, you can usually donate at a solid value, but make sure that the relevant paperwork is in order before finalizing your donation in order to secure your deduction.
2. Father and son projects.
If you have a collectible car or if your vehicle’s model has a good reputation for safety and reliability, you can often sell it to families looking for a project vehicle.
If your old car doesn’t run, they won’t pay much money for it, but you’ll get the satisfaction of knowing that your vehicle’s giving a father-and-son mechanic team some quality bonding time. To sell your vehicle as a project car, write a brief ad describing what’s wrong with it and post the advertisement online. Check out services like Craigslist and eBay. You can also post an ad in your local paper.
3. Junk yards.
Some junkyards pay for vehicles. When you give them your vehicle, they’ll tear it down and sell the parts one at a time.
When you junk a car, you generally don’t get very much money for it. In fact, your local junkyard might not pay for anything other than a tow depending on where you live and your vehicle’s model and condition. Still, if you’re willing to search online for nearby junkyards and call them individually for a few minutes, you might find a local junkyard that will pay a modest amount for your vehicle.
With any of the options above, you’ll need your vehicle’s registration and title. Be sure to get money or a proof of donation before transferring these documents to your vehicle’s new owner. Research your options thoroughly and check the value of your car on websites like Kelley’s Blue Book before you make a decision. Even if your vehicle isn’t worth much, it’s still worth your time to get as much money as possible.