Who buys junk cars? If you are asking yourself this question, then we have the answers for you. This is what you need to know about junking a vehicle.
Did you know that there are more than 250 million vehicles registered in the U.S. alone as of 2020? With a number like that, it’s understandable that many reach a point where they are no longer operational. At this point, the only option may be to junk it.
There are some benefits to junking an old car that you might miss out on. These benefits are both monetary and for taxation purposes. Read on to learn about who buys junk cars and how this can benefit you.
Who Buys Junk Cars?
While you could find a third-party buyer for your old vehicle, there are several avenues for junking a car. Which one you choose depends on whether you want money or a tax deduction. These options include:
Salvage Yards
Salvage yards buy used cars and often break them down into parts that are resold. Because of this, they often pay considerably more than recycling companies that will just junk a vehicle.
Metal Recycling Companies
Not all metal recycling companies take cars, so you’ll want to look around to find one that does. These companies typically don’t offer as much as salvage yards, but with the recent supply shortages, that may not always be true. Rather than price by model, these places may offer a price based on the weight of a vehicle.
How Much Should You Ask For?
Before you part with an old car, you need to know what it is worth, so you get a fair price. There are several free online tools you can use to estimate its worth. Keep in mind that these tools might refer to cars that are still operational, so the price you get might not be equivalent.
What To Look For Before Junking Your Car
Before you junk a car, there are several steps that you should take. These steps can protect you from paying additional fees and keep the disposal environmentally conscious.
Paperwork
Depending on the jurisdiction you live in or even the individual company you are working with, some paperwork is likely to be required. The most obvious is the car title, which many companies require for you to turn the old car over. You may also use your registration and drivers license.
Valuables
You should perform a major sweep of the car as one last self-check to make sure that you aren’t leaving any valuables behind. Valuables left in the car may include money, car repair and maintenance kits, and important paperwork. Some of the areas you should search include:
- Trunk
- Glovebox
- Middle counsel
- Under the seats
Disposal Process
If being environmentally conscious is a concern, you could review how the car is disposed of. This will ensure that items like fluids and the battery won’t affect the environment. If a company’s standards do not match yours, you may consider recycling these items on your own.
Are You Ready to Junk Your Old Car?
Now that you know who buys junk cars, what are you waiting for? There are several options available, depending on what you want in return. Always make sure the paperwork is handled properly and that there are no valuables left behind.
If you’re ready to scrap a car, contact us to get started.