If you have an old car, you might think your only choice is to call the junkyard. Thankfully, that doesn’t have to be the case. Here are seven smarter things you can do with your current clunker.
1. Trade Your Car In
It’s a dilemma that every driver will face – you’re in the market for a new car but don’t know what to do with your old one. The simplest way to get rid of your old clunker is to trade it in when you buy your new car. You won’t get top dollar, but the dealer will take it off your hands, and the money you get could lower your car payments going forward.
2. Restore Your Car
If your old car is a classic, why not restore it to its former glory ? Since there are a limited amount of old cars out there, the value of quality classic vehicles could go up substantially in the years to come. And if you do a good job, you could end up with a vehicle that is both valuable and fun to drive. Not every car belongs in a junk pile.
3. Sell Your Car Privately
There’s always the option of selling your old car privately , whether through classified ads or social media. Just be honest about its problems and set a fair price – you can’t expect to get top dollar for a car that will need constant repairs.
4. Take Your Car to a Consignment Lot
Want to get rid of your old car hassle-free ? This may be the option for you. All you do is drive it to the lot, park it in the assigned space and let the lot owner do the rest. In exchange, the dealer will take a commission when the car sells and send you the balance.
5. Sell Your Car to a Dealer
If the consignment route isn’t for you, there’s the option of selling your vehicle outright. Many used car dealers specialize in buying private vehicles, fixing them up and reselling them for a profit. You may even be able to get an estimate online by entering a few key details about your vehicle.
6. Sell Your Car Parts
Even if your car is no longer in great mechanical shape, the parts in it may still be valuable. Selling your car for parts could yield more than you might think, so don’t write off this option. Just call the local auto-recycling centre, provide the make, model and year of your car, and see how much they will give you.
7. Donate Your Car
If none of the previous options work for you, don’t panic. There are plenty of charities that take donations of cars, then auction them off or sell them to raise much-needed funds. You will even get a receipt for tax purposes so you can write off the value of the donation when you file your return. Donating to a charity helps you both get rid of your clunker and help a worthy cause.