For the majority of people, selling an old car is the logical step once it is no longer of use and you plan to move on to the next vehicle. However, what are you supposed to do in a situation where selling your previous vehicle is not such an easy task? How do you get the most value out of your old car in this particular scenario? Here are several ideas worth considering.
1. Sell it to a mechanic
Selling your old car is definitely the best way to get rid of it. Now, you might have to fix it a bit, but the problem with fixing an old vehicle usually lies in the fact that you might not be able to sell it either way. So, where does that leave you? Not only will you not get the money for the vehicle, but you might still be down for money you’ve spent to repair it. However, if you were to offer a car to a mechanic, they might be willing to consider buying it for the parts. This way, you at least get some value out of it.
2. Lower the price further
Keep in mind that if you can’t sell the vehicle, it might be worth your while to lower the price even further. Remember, the asset is only worth as much as people are willing to pay for it. However, if no one is willing to buy the vehicle and you have no intention of using it ever in the future, its value is actually quite close to $0. This means that getting any monetary gain for it might be a deal of the century (like making money out of thin air). In other words, you might be able to justify selling the vehicle below the price range that you considered realistic. It is a situation far from ideal but one in which you gain at least some value out of your seemingly worthless asset.
3. Look for car removalists
Sometimes, selling the car might not be a viable option. What if the vehicle is damaged beyond repair? What if it’s damaged so that it would take a fortune to fix it in order to drive it again. Some vehicles could be in such a poor condition that no one would actually buy them from you even if you were to offer them for free. Now, there’s always an option to look for local car removalists. For instance, if you are somewhere in the Sydney area, you can always look for businesses providing car removal in Sydney and contact them about your car. This way, you can get your car taken away and even get paid (up to $7,999) in the process.
4. A potential to become an old-timer
The value of the vehicle cannot always be observed through its model and mileage. In the previous section, we’ve mentioned the likelihood that your vehicle is in such a state of decay that you might not be able to sell it. Now, this can only happen for three reasons – your expectations are unrealistic, the car is severely damaged, or the vehicle is too old. If the last part is true, there is a chance that the vehicle may actually classify as an old-timer. This way, you might be able to sell it to someone willing to restore it.
At the end of the day, you can always donate the car, take it to a junkyard or even rework it in order to turn it into a piece for your garden. However, you shouldn’t be too quick to abandon the idea of generating some value out of the vehicle in question. Keep in mind that the money in question may be needed elsewhere and that letting an opportunity slide just because you’re afraid to invest a bit more effort might be an instance that you will later come to regret. With the above-listed four options on your side, there’s no reason why it should ever come to that.