There comes a time in the life of every vehicle when it is not practical or safe to use any more. Should you sell your car, scrap it for cash, or donate it? It’s not always easy to make that decision. Take a look at these eight do’s and don’ts of getting rid of your aging car before you begin the process of disposing of your old car.
Do your research
Put some thought into how you’ll sell your car. Will you use online and print advertisements to list your car for sale? Will you turn to eBay.com/Motors or Craisglist.org for help? Will you search for a reputable junkyard? Whichever option you choose, it’s worth it if it means unloading your unwanted vehicle for cash.
Don’t undervalue your car
Even if your old car is dilapidated or broken down, you can still recoup some money for it. Don’t let anyone tell you that your car has no value. People often sell cars for cash to junkyards if they don’t want to try to sell it outright.
Do get the title
The most important thing you need to do so you can transfer the ownership of your vehicle is a valid title to your car. If you’re selling to junkyard that doesn’t care if you don’t have the title, be wary. If you fail to transfer ownership of the vehicle, you are still responsible for the car and may incur liabilities because technically, you still own it.
Don’t forget to take the license plates
When you’re in a hurry, one thing you don’t want to forget it to remove the license plates from your car. Many states require you return the license plate to the DMV before you can cancel the registration, and you may have to turn in the plates before you can cancel your insurance policy too.
Do cancel insurance
Cancel your car insurance; once the car belongs to someone else, you no longer are required to hold insurance on it. The company will need the date of sale. Make sure you hold insurance up until you hand off the keys – canceling your policy too soon is illegal in most states.
Don’t accept a check
When selling your old car, the payment is often an area of concern. Cashier’s checks may be counterfeit and personal checks may be written to a bank account without sufficient funds. The best option for payment is cash. If the buyer won’t agree, you should meet at a bank to complete the transaction.
Do make your car look nice
Make it a point to clean up the inside and outside of your car. To help improve the chances of finding an owner and get the most bang for your buck, make your car look as new as possible. Wash and wax it so it’s shiny, get it detailed, and remove any stains or mend any scratches.
Don’t spent an exorbitant amount of cash on repairs
If you’re selling your older car to a junkyard, they’ll pick the car up just like it is, and still give you the best price possible. Make sure you think through any repairs and whether or not they’ll actually increase the value of your car before spending your money.
Selling your car may feel like a chore. Apply these do’s and don’ts to the process to free yourself of your car and get the amount of cash in your pocket that you feel is fair.