With the exception of classic vehicles that have been rebuilt and are only driven on special occasions, all automobiles have one thing in common: They eventually wear out. However, just because a vehicle is no longer drivable doesn’t mean that it has no financial value. In fact, salvage lots (a.k.a. junkyards) are often willing to pay hundreds of dollars for an end-of-life vehicle.
If you own a vehicle that is no longer useful as a mode of transportation, selling it to a salvage lot may be the quickest way to get paid. But there are some steps that you should take before you offer your old set of wheels to a junkyard. Following the steps below will help you liquidate your vehicle with the least amount of hassle and help to ensure that you receive the biggest profit.
Consult State Requirements
States have different requirements for selling junk vehicles. For example, some states require sellers to fill out special paperwork before their vehicles can be junked or salvaged, and mandate that license plates from the vehicles be relinquished. Your local branch of the Department of Motor Vehicles (DMV) can inform you of state requirements that apply to selling your car.
Locate Proof of Ownership
Before a salvage lot buys your junker, it will almost certainly require you to prove that you own the vehicle. Most drivers prove ownership by presenting an owner’s title, although the following documents are also sufficient for proving you own the car you want to sell: an auction sales receipt, a mechanic’s lien, a storage lot lien, or a repossession affidavit.
Receive Several Price Quotes
If your vehicle is no longer drivable, you may have a hard time estimating its value using an auto industry price guide such as Kelley Blue Book. In this situation, the best way to assess the worth of your junker is to receive several price quotes from different salvage lots. The more quotes you receive, the likelier you are to receive a highly competitive offer.
Inquire About Free Towing
Many salvage lots that pay cash for junk cars offer free towing services to sellers. The reason why is obvious: Paying for towing services would leave many customers with no profit from the sale of their vehicle. Receiving free towing services is essential for retaining a meaningful profit.
Exchange Ownership for Cash
If you sell your vehicle to a salvage lot that offers cash for junk cars, the business should pay you in cash in exchange for taking ownership of the vehicle. After you relinquish ownership of the vehicle to the buyer, you should be paid in cash before the car is towed to the salvage lot.
If you are looking for a salvage lot that offers cash for junk cars, Wrench-A-Part is the company to call. We consistently pay some of the highest prices for junk vehicles and assist customers with the sales process in any way that we can. We also provide free towing to sellers, and pay for junk vehicles in cash as soon as we take ownership of them.
For more information about our services for sellers of junk vehicles, contact one of our Texas locations in Austin, Belton, or Lubbock. We look forward to hearing from you!