Junking an SUV can bring in more money because there’s more material for the junkyard to recycle. Rashawn Mitchner is a MarketWatch Guides team editor with over 10 years of experience covering personal finance and insurance topics. In most cases, you will both sign and date a bill of sale, and you may need to file a “release of liability” form to prove that you are no longer the owner. Finally, you will sign and date the title and hand it over with the bill of sale to the new owner. You should also address any large mechanical issues unless you sell your car “as is” in exchange for a reduced asking price. As we mentioned earlier, each method will return a different value for your car. You can also lookup your car’s value on Edmunds or visit online dealers like CarMax.
The most you can get for your junk car depends on the model, size and condition. A small coupe or sedan that’s decades old and covered in rust may fetch $100 or $200, while a newer SUV could bring in $500 or more. You might think your car will end up in a landfill, but that’s not usually the case.
Now you will have your own caravan at the beginning of the game. This will serve as your starting point in the game and an excellent place to upgrade your vehicle. Your contacts in the region will help you to bring any car to better condition so that you can sell it later.
Be sure to ask each junkyard whether it will pay for a tow truck. Once you’ve found the best offer, sign the title over to the junkyard, factoring in towing expenses, and complete any after-sale paperwork your state requires.
Create a Paper Trail
There’s no such thing as exact pricing when it comes to a used car trade-in value. The exact appraisal amount will change based on local market conditions, the dealer’s inventory, and their ability to resell the car. To understand the value of your car, take it to multiple used car lots to see what they will give you for it. This will help you understand the high- and low-end values for your car. Different states have different requirements for selling vehicles, but the process can be relatively straightforward. Ensure both you and the buyer have the paperwork required, and make sure they know what they’ll need to transport the vehicle out of state.
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Sellers also must notify the county tax assessor’s office of the sale. This provides another layer of protection if the future owner fails to properly title the vehicle. If you are selling the car yourself, this is the list of paperwork you need for the sale. Buyers often want a mechanic to look at a car prior to a sale. One way to make this happen is by providing a pre-sale inspection from your own mechanic to help put buyers at ease. Getting a pre-sale inspection of your vehicle before selling it will put information in your hands that a buyer will find if they do their own inspection anyway.
Several websites allow you to do this, including Carvana, Craigslist, or our Favorite Facebook Marketplace. These websites are a great way to reach a large audience of buyers. Selling your car to a private owner means you’ll need to know how to negotiate the price. If you’ve given yourself some padding on your asking price, it gives the buyer room to counteroffer if they haven’t accepted it outright.
What do you need to junk a car?
Be sure to research the different sites before choosing one! This way, you’ll know that you’re getting the best deal for your car. They aim to sell at wholesale prices and offer you something below it so that they have a bit of wiggle room for profit. There are several websites that you can use to sell your car. It’ll help you with your money management by giving you an idea of how much money to save to pay cash for a new car. If the buyer still prefers their own mechanic, meet the prospective buyer only at visible and reputable businesses and drive separately for safety reasons.
The process of repairing a car will begin once you’ve found the essential parts. Once these parts are correctly installed, the vehicle will become operational. Read more about online car selling here. The biggest detriment to your used car’s value is its overall condition. Even surface-level scratches and swirls read as damage to prospective buyers, diminishing your car’s value. If you’re looking to sell your used car for more money, a paint correction is essential. We collected data on several providers to grade each company in five key areas.
