How to get rid of a car for cash

Tips on how to sell your car for cash

If you’re here it’s probably because your car had a major failure, you don’t want to fix it and you’re trying to get rid of the car for cash. Here’s how to do that.

Is it worth it to fix your car? See this article on when it’s not worth it to fix your car

If you want to sell it to another buyer and get the most cash

Let’s say your car’s value would be $9,000 if everything was in working order. The shop says it needs a used engine for $5,500. You want to sell it for the difference ($9,000 – $5,500= $3,500). Nope, not gonna happen. No buyer will pay you that because they can’t test drive the vehicle. You’ll a HUGE penalty any time a buyer can’t test drive it or have it inspected.

Smart buyers will consider the value ($9,000 in good working order) and then subtract the cost of the engine ($5,500). Then they’ll subtract an “estimate worry fee” of another $1,000 to cover additional repair costs that crop up when the shop really gets into the repair. Now you’re down to just a $2,500 cash offer. But wait, there’s more.

Since the buyer can’t drive the vehicle, they really don’t know what else might be wrong with the vehicle. That’s a risk they’ll want to cover in their offer. So they’ll decrease their offer by at least another 25% to 50%, leaving you with an offer of around $1,200.

At that price it might be worth it for you to fix the vehicle and then sell it. But there’s more to it than just the engine. See this article on when it’s not worth it to fix  your car.

Try selling your car to a mechanic

If the body is in decent condition try contacting mechanics to see if they’re looking for a nice rebuildable vehicle for themselves. Take pictures of the vehicle from all angles and stop by a few independent repair shops. Ask the owner if you can show your pics to the mechanics working there. What have you go to lose?

How to get rid of a car for cash to a junk yard

What’s valuable to a junk yard?

A junk yard cares about the value of body parts, tires, engine, transmission, and the catalytic converter. If your car is a late model (less than 7-8 years old), the body parts still have some value. But if it’s older than that, the body parts lose value quickly. Why? Because most insurance companies will total out an older accident vehicle because the repair costs exceed the value. In other words, 10-year old body parts have little value to a junk yard.

If your car is in the 7-8 year sweet spot, the body parts are in good shape and the vehicle has decent tires and the original catalytic converter, call several local junk yards and get quotes for a cash sale.

If your car is older, has body damage, is missing a catalytic converter and needs major repairs, it’s time to call a scraper

How to get rid of a car for cash with a scraper

Scrapers usually pick up your vehicle, remove the catalytic converter and then drive it right to a metal recycling plant where they get paid the current scrap price per ton. Scrap prices vary by the day and by location, but are usually in the $135 to $165 per ton range.

Start with online sources like cashforcars.com or junkcarmedics.com to get a rough idea of your car’s cash value from a scraper. The prices from the online sources will most likely be high and will drop once they come to pick up your car. So check with local scrap dealers next.

Or, look up current scrap steel prices at iscrapapp.com

What you need to get rid of a car for cash

You’ll need the title to the vehicle. If the title shows a lien (loan), you’ll need a lien waiver from the lender.

No legitimate scraper will pay you cash for your car without the title.

©, 2023 Rick Muscoplat