Looking at your vehicle and realizing it’s approaching the end of its life, you must start weighing your choices about its future. If you have the means and the wherewithal to continue with the maintenance (expect it to be really high) of your old car then good for you. But if you think getting rid of it would give you the most benefit then you should consider your options.
Just because it's non-running doesn't mean it's worthless
Here are some cost-effective ways to take care of an old run-down vehicle:
1. Sell it online
Selling your old car may require a lot of work but it can give you the chance to sell it for a fair price or a price that is more than the worth of your car. You can also maximize your margin since you’ll be the one controlling your overhead costs for selling it. You can try selling it traditionally such as putting a newspaper ad or put up flyers with the details of your car, or do the typical Naija rubber-on-car gimmick. However, the most effective way to sell it is online. You can try selling it in sites like Naijaut, the Facebook marketplace, Craigslist, or other websites that will allow you to post your product for free and can generate more views that can guarantee it will be sold.
2. Sell it to a dealership
One of the fastest and most effective ways to sell your car is through a dealership. If you really are willing to sell your vehicle to a dealer, try going to a dealer selling the same make. If you're not pleased with their bid you could always check out an off-brand dealer. Consider asking around and see what different dealers are willing and able to pay.
There are some good dealerships that can eliminate the hassle and will give you a good price for your vehicle. These establishments will give you a good price if you sell a non-running car and you can check out the quotes online. You won’t have to deal with dodgy dealers outside or in the scrapyard and you’ll have your money in no time. They will also be the ones to take delivery of your car for free to save you the cost and the burden of transporting a non-running vehicle.
Your non-running car has to be in reasonable shape before a dealer can buy
3. Trade it in
If you’re interested in buying a new car or a used car, you might consider trading your car for the car you want rather than selling it. You will reduce the price you need to pay for your new or used car by trading it and avoid the hassle of having to sell your own car.
The trade-in offer of the car you receive will depend on the value of your vehicle, on whether the dealer already has similar cars, on the condition of your vehicle, and on whether repairs will be needed. Remember that if you don't like the offer trade you 're getting, you're not obliged to accept it. Also, make sure you do your due diligence and thorough research first before you make the sale This will prepare you and get you the best possible deal!
4. Scrap it
If your car is in near-terminal condition and no longer usable, you might not want to attempt to sell it to a car dealer or an individual. That would be unethical and it could also open you up to questions of liability. The best thing to do for this vehicle is to scrap it. You'll be getting some cash, and your car won't be the source of any future problems. Indeed some of it will be recycled, giving other cars new life.
Scrapping a car is always the final solution
5. Give it away
There are other organizations that would be willing to take your non-running car, sell it, and donate the money to charity. In this way, you can just take off the burden that you have from your unused car and at the same time, you can lend a helping hand to someone.
Besides supporting those who are in need, donating your car could save you money on your taxes as the IRS will allow you to claim a tax deduction. Usually, the deduction is proportional to the price the car is selling for. If it is not auctioned, you can assert the fair market value, or a certain amount in the region of $500 (₦190,000), whichever is higher, but you really should seek a tax professional for details.
6. Sell the Parts
Attempting to sell parts of a junk car may be one of the most common things individuals do with junk cars. At times, the individual parts are more valuable than the car as a whole. You can sell parts to various individuals more easily than trying to find one person to buy the entire haul.
Here are some of the parts that are usually in demand as replacement parts or spare parts:
- Electronics (power door locks, window motors, and radios)
- Tires and Rims
- Windshields or Windows
- Metal Body Panels
Never underestimate any single part of your car's overall worth, even if you think it's "junk." But before you dispatch your old car, you should consider the pros and cons of all options available to you. You should not only consider money but also convenience as well.
Would you believe even luxury supercars are abandoned? Feed your eyes with the video of expensive abandoned cars below!
Abandoned cars in Dubai-multi billionaire’s edition (Ferrari, Bentley, Audi r8,G wagons)
Right, so you need to lose the attitude that your non-running car is no longer valuable. Of course, you may have to up on your thinking cap to find a proper way to monetize it. The ideas shared above are just a tip of the iceberg in ways you can get your money back from a car that once served you well but is no longer running. Take a positive action today and you may end up with a useful empty space (where the car used to park), and also of course money in your pocket. Enjoy!