Sometimes cars overstay their welcome. Maybe your vehicle has been dragged along for years, barely holding onto its frame. Maybe you were in an unfortunate fender bender, putting the car out of commission. Selling a car on its own can be difficult; therefore, selling a broken or junk car can be burdensome. How much is your broken car worth? It’s crucial to know before you start the process.
Broken or Junk?
The first step to figuring out how much your broken car is worth is to decide the overall status of the vehicle. The difference between a downright beat-up or junk vehicle can be tricky.
Simply put, a car is considered junk when the costs of repairs are more than the overall price. This determination is usually made by your insurance company, which will then sell it for scraps. Usually, electrical, structural, or engine-based damages are the quickest way to total a car.
Sometimes you may not have insurance on the vehicle. It may be sitting in your garage wasting away. In this case, it’s useful to get the car checked out by a mechanic. They should be able to determine if the car is considered junk. A good rule of thumb is fairly simple: if it’s old and doesn’t run, it’s probably close to being junk (unless it’s classic or rare).
All of your questions can be answered by taking the vehicle to a used car inspector. For usually under $100, a specialist can let you know the condition and what to do next. They may also be able to do the repairs if it will lead to more profit. It never hurts to get a professional opinion.
Have no fear. Not all junk cars are dust in the wind. Plenty of vehicles with salvage titles have made it back onto the road. Therefore, it’s paramount to find out before making your next decision.
What is the Make and Model of Your Broken Car?
How Much is it Worth?
The make and model of your car can play a colossal factor in its overall worth.
You know what? It’s a really cool car. Even if it doesn’t work!
After all, a broken or junk car does not mean it is old or unwanted. Things happen. Plenty of newer cars finds themselves in salvage yards. It’s rare, sure, but it is possible. Along with that, some older models are more popular than others.
If your car is a unique model, has a great interior, or is fairly new, it most likely has a higher value despite its condition. It’s tough to find the exact value if it has problems, but you can use websites like Kelley Blue Book and Craigslist to keep an eye on what it’s currently going for. Deduct the cost of repairs, and you should have a valid estimate.
How Much Mileage Is on Your Broken Car?
The mileage, along with the make and year, is a crucial factor in determining worth. If your car has been considered totaled and is junk but still has a lot of mileage left on it, it may be worth the fix for someone.
Furthermore, the mileage will not matter much to a scrapper planning on selling the car in parts. But, you’re better off selling if it has limited miles on it and looks good aesthetically.
A junk car with 50,000 miles on it is a lot more advantageous to a buyer than a car with 200,000. It all depends. After all, not all junk is the same junk.
Where Is Your Broken Car?
Location, location, location.
Think about it. If your vehicle is in an area with a multitude of broken and junk buyers, your asking price can always increase. These buyers will be competing with each other, especially if the vehicle still has value. If it is broken down in a one-stoplight town, you will probably only get what one buyer offers.
At the end of the day, selling a broken automobile is not a simple task. Not everyone is climbing over each other to buy it. You have to work with what’s around you and who is offering. The pool will be a lot smaller than a normal, working car.
Also, actual physical location matters, too. If your broken automobile is sitting in your driveway, you’ve got a better chance of selling it. If it’s off in some deep woods, expect some trouble. Some companies will come tow your car for free, though, like Sell My Car Colorado (wink, wink).
As stated, the product is not necessarily desirable. So, little factors like location really do make a difference.
Is Your Broken Car Worth More Than Scrap?
When all else fails, scrapping the vehicle is always available. On the contrary, automobiles are always worth something, even if they are completely inoperable. Selling the metal, parts and interior separately or scrapping the entire thing is always an option. In fact, automobiles can now be up to 98% recycled. So, it’s better for the environment than sitting in the open.
If you’re balancing a fine line between making zilch or a little cash for your broken vehicle, keep an eye on scrap metal prices. They are always fluctuating.
If the automobile is in truly bad shape, scrapping it may be your best option financially. It all comes down to doing the research and seeing what method is more profitable.
When in Doubt, Sell it Online
If you’re ready to get the broken car out of your garage but don’t feel like dealing with the hassle of figuring out its worth, you can always sell it online. Companies like Sell My Car Colorado will offer you cash for your used or junk car. In fact, we will even come to pick it up for you, free of charge.
Companies like us have an array of established and insightful brokers that can determine the value of your vehicle and make sure you leave with the best possible price. We even offer $100 more than our competitors
There’s nothing wrong with an extra couple of bucks.
Reach out to us! We can give you an offer and discuss your options before you make a decision. Let’s take care of that junker today. It’s better for your health. Though, I am no doctor.