If your car no longer runs, you may be wondering what you should do with it. Depending on your financial objectives, resources in your area, and the amount of time you want to devote to the project, there are several options you may want to consider. In most cases, car owners choose one of the following five ideas.
1. Sell the Vehicle
Even if your vehicle isn't running, it may be repairable, and you may be able to sell it. If you take this route, be honest when describing the car in online ads. Let buyers know that it doesn't run, and outline any issues that you believe it has.
Someone who is handy with vehicles may pick it up to repair and use. Alternatively, some used car dealers or mechanics are willing to buy old cars that they can repair and sell.
Remember that mechanical issues drive down the value of the car. You can't expect to get blue book value in these situations, but you still may be able to get some money.
2. Donate the Vehicle
Selling a car can take a lot of time—you have to post ads, field calls or emails, and meet with potential buyers. Depending on the potential value of your car, that may not be worth it.
In these cases, you may want to consider donating your car. When you donate a vehicle to a registered charity, you can claim the fair market value of the vehicle as a tax deduction on your federal tax return—in some cases, if the charity sells the car, you may only be able to claim the amount for which the vehicle sold as your deduction.
Note that some charities won't accept vehicles that don't run. To increase your chances of finding a charity that will accept your vehicle, consider looking for a charity that focuses on repairing cars such as a non-profit vocational school.
3. Salvage the Working Parts
In some cases, the parts of an old vehicle may be worth more than the entire vehicle itself. In these cases, you may want to remove and sell what you can.
For instance, new tires and aftermarket stereos are definitely items to consider harvesting, but in most cases, that is only the beginning.
4. Contact a Junkyard
You may also want to junk your car. Depending on the state of your vehicle, the junkyard may harvest working parts, or it may simply crush the entire car and salvage the metal.
In the former case, the junkyard may pay you a bit of money for selling your car. In other cases, however, you may have to pay the junkyard to take the vehicle.
To ensure you get the best deal, you may want to contact several area junkyards. Remember to ask about transporting the vehicle. If the junkyard has to send a tow truck to pick up your vehicle, that may lower the selling price or increase the price you are paying for the junk yard to take the car.
5. Turn the Car into Art
Finally, if your old car is a classic or has other aesthetic appeal, you may want to keep it and integrate it into your landscaping. When many people think of keeping old cars on their properties, they think of broken down cars on cinder blocks, but that's not the only option.
In fact, many clever people have turned all kinds of broken down antique vehicles into fun planters for flowers. In this case, make sure to remove all gas and fluids first, and then, get creative with flowers, herbs, and other plants.
Share5 May 2017
After my old car finally bit the dust, I knew that I needed something that would last for another 20 years or so. Instead of heading out to buy a car right away, I spent a lot of time doing my research. I test drove several different vehicles and I even checked consumer reporting agencies to see which vehicle had the best trade-in value. After I found a car that I felt comfortable with, I did my best to argue down the price. This blog is all about finding a great car and negotiating a great deal so that you don't have to deal with buyer's remorse later.