Scrapping Your Car for Cash - Important Tips to Know

If your old car is barely running, or even if it has broken down completely, all the pieces that make it a car are still valuable. You may be able to get a fair amount of cash for the car seats and the stereo. In fact, scrap yards will even melt the metal frame of your car down in order to sell it to refining companies and the like. You can make extra money by simply selling these individual pieces to a scrap yard for cash. Just make sure you have the title for the car in your name. Salvage yards will not be able to pay cash for a vehicle unless you can prove that you own the title for it.

Before you start breaking your car apart, consult an automotive guide like Kelley Blue Book in order to determine the value the old car. Enter the make, model, and year of the vehicle in question on their website, and clarify your search by entering your zip code and the car’s condition in order to receive the most accurate price value. If your vehicle has stopped working, you can skip this step completely.

From here, if your car is working or not, make a list of damages the vehicle experienced. Include both internal and external damages, and don’t forget the minor damages like dents and corrosion. All of these elements will influence the value of your scrap parts. You will want to research online auction and classified sites in order to assess the local market trends of your vehicle and how prevalent the parts are. If your vehicle is too common, do not expect to make as much if it were in high demand. Finally, before you scrap the car, call the insurance company and cancel your plan, requesting a check for the unused premium.

Now that you’re aware of the blue book value of your vehicle and its damage history, you can start calling your local salvage yards to ask if they are currently accepting old cars. Call as many yards as you can in order to compare offers and choose the best one. Keep in mind that you will earn more cash back for a vehicle that still runs than if you have to tow your broken car to the lot.

Instead of selling your car as one single piece of scrap, you may find that each piece, when sold separately, proves more valuable. If the wheels are in decent condition, you can sell them as a set, pairs, or one by one. For the windows, contact a local auto glass companies to see if they are interested. The stereo will pull in a decent price, especially if you bundle all the wires, amplifiers, and subwoofers into one package deal. The big-ticket item in your junked car will be the catalytic converter. Found in the exhaust system near in the engine, and typically made of platinum, gold, palladium, or rhodium, this little piece will often bring you more than you would get for your whole car at the salvage yard.

As for the engine, motor, and transmission, list them online or in newspaper classifieds on their own. Interested buyers will often come and remove these parts themselves, or hire a mechanic to do so, so you will not have to worry about taking them out yourself.

Finally, when all that is left of your car is the shell, have it towed to the local salvage yard and sell it for scrap metal. Ask around because some salvage yards will collect your car free of charge or for a small, inexpensive fee.

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