In our line of business, we get a lot of people that ask when they are supposed to junk their cars for cash. It’s not a cut-and-dry question, but it still gets asked quite a bit, so we’ve prepared a few of our most common answers so that you might be able to tell if it’s time to junk your car.
Question: when should I sell my junk car for cash?
Answers: Most often, it makes sense to junk a car when the car is worth more as metal than it is as a working vehicle. What this means, is if it needs a repair that would cost $2,000, but the vehicle itself is only worth $1,000 in good condition, it wouldn’t be worth the time or money you put into it.
In the case, it’d be a good idea to just cash it in and start over. Another good situation to junk a car is when an old project has been sitting around for awhile. A lot of people buy old cars with full intentions of fixing them up, but when the budget or time runs out, there’s nothing to do but let the car sit.
For car owners in this situation, it’s often a good idea to recoup some of your losses by junking in the car and getting $500 or so back. Most times, you’ll end up taking a loss on what you put into the car, but for the most part, this is a far better solution to seeing the car sit in your driveway or yard for months, even years.
A recent survey revealed that nearly 30% of rural households have old vehicles or large appliances in their yard, and when you take these numbers at face value, we’re talking about thousands, maybe millions of dollars worth of metal.
So instead of joining that group, why not junk in the car, take the money and free yourself up for other projects?
These are just two of the most common answers we give to this question. Depending on your situation, there could be plenty more options, but in the end, you have to ask yourself: is your car worth more in your possession, or as scrap metal at a local junkyard? If you have any doubts, this can be the best way to decide for yourself when to junk in your car.
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