"Trade-In Value" - What a car dealership claims your car is worth when they are buying it, which seems to usually be around $50. OK, so maybe I made the definition up and exaggerated a little bit, but you know what I mean. We all know that a car dealership isn't going to give you the most bang for your buck when you're selling your car. In fact, it's probably the worst place to sell your car. And what if the car your selling doesn't actually run? They probably won't even talk to you. Is it considered junk? Would you be lucky enough for someone to haul it off without having to pay them? Actually, you can still make some money, even if your car doesn't run. Here's how...
pile of junk broken down car!
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Photo Credit: Zombieite / JJ the Jester / Badjonni / Teena Collins / Webhamster / Marc Ben Fatma
1. Sell Your Car "As-Is"Yes, you can run an add on CraigsList or a local Facebook swap shop page, but be completely honest about the condition of the car. Want some motivation? Here's my CraigsList success story... I owned a 2003 Ford Focus. I bought it new (don't judge me, it was a long time ago). But I owned it for over 10 years. Which means that I put thousands of dollars into it in repairs...because it's a Ford Focus. Eventually, I came to a point where I knew it didn't make sense to pour anymore money into it. What was wrong with? Let me just name a few things...
- The driver-side window didn't roll down
- The air conditioner compressor was broken
- The engine "threw a rod" (which is really expensive to fix)
2. Parting Out Your Car"Parting out" your vehicle is a great way to make money if there is a serious mechanical condition and you know how to use a screwdriver. There is someone in the world who needs a specific piece off your car for their car. And buying those "dealer specific" parts new can be outrageous. So you have the option to sell each piece of your car. eBay is a great place for this, which, by the way, is a great place to find specific used piece for your car when you need them. What kinds of pieces can the average mechanically-illiterate individual pull off and sell? Here are some ideas...
- The mirrors
- The steering wheel
- The Instrument cluster
- The cd player/radio
- The center console
- The wheels/tires
- The caps to engine fluids
- The Headlights/Tail Llights