How To Get Rid Of Your Old Car
Sometimes your old car is like a pair of shoes you’ve always had. You have definitely seen better days, you have to admit. But they’re familiar and you just hate letting them go. Still, you know it’s time to think about something new. Shopping for a new car is part of the job. How to get rid of the old one is different.
Here are our tips for finding a new home for your old car. When you know it’s time to let it go, think about your options and watch out for the pitfalls.
Get Rid Of Your Old Car
4 East Solutions
1. Sell it yourself
You usually get the most money on your old car if you sell it yourself. However, it is best to consider non-monetary aspects.
Advertising costs may apply. Some of the larger online advertising sites charge fees, although there are many free online options that you can use to put your car up for sale. But remember, you will also do all of the following yourself:
Negotiate the sales price.
Dealing with the title papers.
Get paid for your car.
If that seems daunting, it may be worth selling your car to a dealer. There are merchants who advertise cash for cars, or you can just exchange it. If you choose this route, you will receive at least a few offers to ensure that you get a fair price.
2. Trade it In
When you buy a new car or a replacement car from a car dealer, trading your old car seems to be the best option to get rid of your old car. In any case, there are a few traps to watch out for.
Dealers usually make more profit with used vehicles than with new ones. This is often because they receive trade-ins for far less than their actual value. So you should research in advance and know the value of your car. Check all review pages including –
Kelly BlueBook (KBB)
NADA (National Auto Dealers Association)
BlackBook (real wholesale prices for retailers)
BlackBook does not provide direct online values to the public. You can sometimes get access through your local library or other websites. If you are able to determine your car’s BlackBook value, you will know what dealers at auction only for dealers are actually paying for cars like yours.
Visit your dealer with a good idea of the fair value of your car. Make sure your car looks as good as possible. And be ready to play one trader against another on your trade-in value.
3. Get rid of your old car – Donate It
Do you have a high tax bite because you don’t have a lot of deductions or depreciation? Then consider donating your old car to charity.
The nonprofit ultimately turns your car into cash by selling it. Regardless of how much you receive, you can deduct the full amount from your tax return. You should check with your accountant before choosing this option. But it could turn out to be an easy and financially smart way to get rid of your old car.
4. Junk It
Sometimes this old car has more value as a part than an operating vehicle. If there are more problems than you can imagine, there are car removal options that take it out of your hands.
You could consider this your “green” option. This old ride could provide useful parts that keep a similar car on the road longer, or could be the source of the scrap metal that is recycled into a new product.
Take into account the advantages and disadvantages of your disposal options for the old car that you are just finished with. Then choose the one that makes the most sense for your situation.