Do you have an old, unused, damaged or wrecked vehicle that you want to get rid of, and make money in the process? Contrary to what you may be thinking, there is money to be made from what might now be considered junk. From selling it to someone else who might want to fix your unused, damaged vehicle, to sending it to a junkyard, there are options for you to choose from.
OBTAIN A SALVAGE TITLE
First off, you will need to have your wrecked vehicle inspected to verify whether it is unfit for the road. If that is the case, you will have to obtain a salvage title for the vehicle. Every state has different rules and regulations for obtaining one, and your local Department of Motor Vehicles can let you know what those are, but basically, it has to be inspected by someone who will deem the vehicle unfit.
The person who has inspected your damaged vehicle, and who is typically a highway patrol officer, will then issue and give you a special document that will allow for the obtaining of a salvage title from your title company; now you are ready to sell.
SELLING TO SOMEONE WHO WANTS TO REPAIR IT
If you plan on just selling your wrecked vehicle outright because you think someone might want to take on the task of fixing it up, you should make sure you have a few things ready.
First, make a comprehensive list of what will need to be repaired on the car. This is for the potential buyer. You will want to ensure that they know what they are getting themselves into. In that respect, be completely honest when detailing every aspect of your damaged vehicle. Lastly, know the price you want to sell the vehicle for, be reasonable, and be ready and willing to accept a lower offer.
If you sell your vehicle in this way, be sure you have a witness, a notary, on hand when signing over ownership.
SELLING FOR THE PARTS
A great way to make money on your wrecked vehicle is to sell it off in parts. There are a lot of people out there looking for parts, and there are a few sure-fire ways to ensure you sell those unused parts from your vehicle.
One tried and true way is to post an ad, or several. For instance, there is the always free and highly effective Internet. There are several sites that post ads both locally and regionally. Simply determine which ones are going to suit your needs, and do not just stop with one free online ad, post to as many sites as you can find in your area. Want even more exposure than online ads? Try posting ads in the local newspaper as well.
Another fantastic way to sell your wrecked vehicle’s parts is to find an auto auction. If you cannot find one of those, then your next best bet is to go globally with an online auction forum. They are free to join. It costs a minimal amount to get the parts you want to sell set up for bidding, and the best part is that with most online auction forums, you can set a reserve price for the parts you are selling.
SELLING TO THE JUNKYARD
Selling your damaged vehicle to the junkyard is an absolute last resort. By choosing this option you are accepting much less for your vehicle than those options mentioned above. Make some phone calls and find out what you can get for your vehicle. In addition, if you choose to sell to the junkyard, you will not need to obtain the salvage title.