Click here to get this post as a PDF and read it later!
When trying to get rid of a car that is old and in disrepair, it can be tempting to give it away for free. After all, nobody wants to buy a car in poor condition, right?
Wrong. Even if a car does not run, there is often value still there. Some people are happy to put the work in to restore a car if it means that they can pay less upfront. Others buy broken cars to strip for parts – which can be sold on for profit. All in all, there is a market for cars in poor condition.
But just how do you find buyers for these vehicles? This post offers a few tips.
Invest in the right repairs
If your car is still running and drivable, you may still be able to charge a few hundred dollars for it. Making a few repairs may even be able to increase the value to over $1000 – but you need to make sure you don’t spend too much money in the process. What are the best value-boosting repairs that don’t cost too much? Repairing small dents and scratches, replacing missing rims and even getting new floor mats can have a notable impact. Replacing heavily worn tires or brakes could also allow you to increase the price tag. Don’t worry too much about fixing other mechanical issues unless you have the expertise and tools to do it yourself.
Be honest in your advert
When selling a car privately, you should always be upfront about any issues. If you sell to a buyer without disclosing faults, they may take legal action against you. Honesty is the best policy – being open about issues may put off a lot of buyers, but it may gain the trust of others who are willing to put in the investment to fix it. Just make sure to be reasonable with your pricing – you cannot expect to charge $10k for a car that needs numerous repairs, unless it is a rare car or a sports/luxury car. Getting your car valued by a dealership or online valuation company may help you to get an idea of the price you should be asking for (aim to set the price a little higher than their valuation).
Consider specialist dealerships
A lot of dealerships won’t agree to buy a car that is in very poor condition. But there are specialists out there that are willing to take on old and battered vehicles, restore them and sell them. Classic cars could be particularly valuable and sought after – don’t be surprised if a Porsche 911 valuation is quite high, even if it is in disrepair. Of course, it’s essential that you visit a classic car dealership for the best valuation, as a regular dealership may charge less. Consider collecting a few different valuations to help you find the best offer.
Explore online car buyers
There are now a number of online car buyers that are willing to buy any car immediately. They will generally give you a very low offer – less than you might be able to get from selling privately or selling to a dealer. But you’ll still get some money, and it is a much faster and more convenient way to sell a vehicle. It could be particularly worthwhile using this method if you’re missing documentation or if you need a company to take away your vehicle because it is not running. Be wary that online car buyers may sell vehicles to scrap companies in some cases – some of which may charge more.
Sell your car for scrap
If your vehicle has quite a lot of faults and has a very high mileage, you should consider whether it’s at the end of its life. Scrapping the vehicle may be the best option – this involves selling your vehicle so that it can be stripped for parts. Fortunately, there are many companies willing to pay you to take away your vehicle. They won’t offer a lot of money, but it could still be a lot more than if you gave away your vehicle. Take the time to compare quotes online. Scrapping is not recommended with vehicles under 10 years old or classic cars unless they are severely damaged from an accident – such cars usually still have life left in them and you’ll be able to get more for them using other routes than if you were to scrap them.
Conclusion
There are clearly lots of different ways to sell a car in poor condition. When assessing the best option, consider just how bad the condition of your vehicle is. A vehicle that still runs may still be possible to sell privately. A vehicle that doesn’t run may need to be sold via other means.
