In many of our blog entries, we’ve discussed how buyers of junk vehicles benefit car sellers by offering cash for wrecked cars. However, junkyards also benefit from this situation. If you’ve ever wondered how junkyards profit from offering cash for wrecked cars, below are the answers. For more information about how a professionally operated junkyard benefits from offering cash for wrecked cars, please contact Wrench-A-Part, and we will answer any questions you have.
1. Less Cash Kept Onsite
Offering cash for wrecked cars helps junkyards keep less cash at the business location, which helps to protect against internal and external theft. Because many of the parts they sell cost well under $100, it isn’t uncommon for junkyards to routinely receive cash payments from customers.
2. Lower Administrative Costs
When a junkyard is paid in cash, the administrative staff in the business office has to count it, store it in a temporarily secure location, and then move it to a safe to secure it after business hours. Then the money has to be transported to the bank and deposited in the right account. Paying customers in cash helps simplify administrative processes for managing cash payments.
3. Acquire More Junk Vehicles
Junkyards may not like having lots of cash in their pocket, but sellers of junk vehicles do. Being paid with a check always entails the risk that the check will bounce. A driver who is selling a vehicle to a junkyard for the first time is naturally concerned about this, as he or she isn’t too familiar with the business that’s doing the buying. A cash payment eliminates the concern.
4. Sell Quality, Used Parts
The more vehicles that junkyards acquire, the more parts they can sell. Because offering cash for wrecked cars creates an incentive for vehicle owners to sell their end-of-life automobiles, it helps junkyards acquire more vehicles, which thus helps them sell more quality, used parts.
Plan to Sell Your Junk Car?
If so, you’ve come to the right junkyard. Wrench-A-Part is a professionally operated junkyard that constantly needs to acquire new vehicles. So, chances are that we would like to buy your end-of life vehicle, even it it is wrecked, has legal memon status, and simply fails to operate due to recalcitrant auto parts that cost more to replace than the vehicle is worth on the fair market.
To receive a free quote for your end-of-life vehicle, contact one of our Texas locations in Austin, Beton, Holland, and Lubbock — whichever one is closest to the location of your junker. We look forward to making you a competitive cash offer for your end-of-life vehicle. Contact us today!