What to Expect When Selling a Scrap Car – Jalopnik

Selling a junk car may seem like a no-brainer: find a buyer, sell the car, and pocket the proceeds. Nothing beats the feeling of a cash-for-clunkers deal, but will you get the most money for your junk car? Just like used cars that are actually running, salvage cars have value, and what they are worth comes down to many things, such as their state of repair (when the engine is running, the vehicle moves under its own power or cannot move), whether the car has a salvage title (which is different from a rebuilt title), and the amount and severity of damage the car has.

However, certain salvage vehicles can fetch higher prices from scrap yards, auctions, private buyers and online dealers, which comes down to their weight, metal content and demand for parts. For example, pickups are heavier than most cars and have a higher demand for parts due to their popularity, so you’ll likely get more money for a pickup than a sedan.

Diesel trucks are also in high demand and can fetch higher prices at salvage yards, while SUVs, minivans and hybrids have many usable parts, such as transmissions, differentials, interior parts, batteries and precious metals. The same goes for exotic and luxury cars with advanced electronics and aluminum frames.

Now that you know that larger, heavier junk cars typically command the highest price, here are other things you can expect when you get rid of the old, dilapidated junk car that’s irritating your partner to no end.

Your local dismantling company or salvage yard is another great option. Unlike most junkyards, salvage companies look for usable parts as well as the weight of the car, which could mean more money in your pocket. Meanwhile, private buyers looking for project cars could do better than a salvage company, but the toughest part is finding an interested buyer, as those willing to spend a lot of money will want to acquire highly sought-after, collectible models such as the old Honda Preludes, the transcendent Volvo P1800 (which earns the distinction of being the highest-mileage car roaming the planet) and Series II Ford Broncos.

On the other hand, you can donate your scrap car to non-profit organizations or charities. Yes, you won’t get any money for it, but you can get a tax deduction for your troubles. But in order to do this, the charitable, educational, or religious institution must be registered with the IRS. Consult your accountant or visit the IRS search tool to find all qualified tax-exempt organizations and government agencies near you.

The best part? Online scrap car buyers make it very easy to sell your scrap car. In most cases, free pickup and towing is part of the service, and when you get started, all you have to do is enter your car’s make, model or VIN to get an instant cash offer. It’s a great option if you don’t know much about cars and hate dealing with low ballers or cheap skaters. The free towing portion is like the icing on the cake, and most pay immediately after inspecting your ride.

Additionally, most states require the seller to have the title before they can legally sell to junkyards, wrecking yards, or private buyers, as without this title it will be virtually impossible to transfer ownership of the vehicle. On the other hand, it is legal for dealers to sell a car before the title and paperwork is known, so do the math. Other documents worth having include your driver’s license, registration, and insurance papers. It may sound picky, but having paperwork to confirm your identity and proof of ownership of the junk car will streamline the entire sales process.

Finally, there are two things you need to do after you sell your junk car. First, you may need to surrender the license plates to your local DMV to avoid future liabilities related to crimes, tolls, and traffic fines. The last part is canceling the auto insurance policy for the car (if applicable) when selling it online or to a local scrap yard, but there’s a catch: you’ll have to wait until the registration is officially transferred to the new owner if you sold the car to a private buyer who plans to restore or repair it.