You can sell a car for parts and quick money by stripping the car on your own and selling parts individually to private buyers or selling the entire car to a local scrap metal yard. The amount of money you can make depends on various factors, such as whether your car is new or old. But according to the National Automobile Dealers Association (NADA), most sellers get $2,337 for a used car.1
If you need money quickly, you may wonder whether it’s better to sell your car or keep it. In this article, you will learn how to sell your car for parts and how to afford a new vehicle.
Why Sell a Car For Parts?
The individual parts of a car can still be utilized to repair other cars, so you can still make some money from a vehicle that no longer runs. When a car is totaled or extremely old, you may stress about trying to pay for car repairs with no money. But by selling the remaining parts that are in good shape, you can get some money to purchase your next car.
What’s My Car Worth?
If you need money and have a car you wouldn’t mind selling, you may ask, “ What’s my car worth?” The value of your car depends on various factors, such as the current mileage and year. Most buyers will use the following factors to determine the market value of your car.
|Make and Model
|The brand and specific model of the vehicle. Some brands and models have higher resale values.
|Newer vehicles tend to have higher values, but classic cars in good condition can also be valuable.
|Cars with lower mileage typically have higher values as they may have less wear and tear.
|The overall physical and mechanical condition of the vehicle, including any damages or issues.
|Accidents, regular maintenance, and ownership changes can affect a car’s value.
|Some vehicles are more in demand in the used car market, affecting their resale value.
|Vehicles might be valued differently based on regional demands. For instance, 4x4s may be more valuable in mountainous areas.
|Color and Features
|Popular colors and additional features (e.g., sunroof, navigation system) can increase a car’s value.
|Economic downturns or upturns can influence the used car market and vehicle values.
Best Options For Getting Money From a Dead Car
Once you’ve accepted that you have a junk car on your hands, you have two options for selling your car for parts. You can either sell the entire vehicle for someone else who wants the car’s parts, or you can keep the vehicle, breaking it down yourself and selling parts piece by piece.
Sell The Car As a Whole
The quickest and easiest solution for getting rid of a junk car is to sell it as a whole for someone else to handle all the messy work. You can sell it to a small business mechanic shop or a salvage yard.
There are even many private buyers who have a passion for cars and love taking them apart. Selling your car will give you some kind of compensation, and the old vehicle will disappear, so you don’t need to worry about it anymore.
Selling Individual Parts
The other way you can sell your car for parts is a little bit more involved. If you put in the time and effort to take your old car apart piece by piece, you might be able to make significantly more money.
Selling the individual usable parts and scrap metal rather than shipping the whole thing to a salvage yard could yield a handsome chunk of cash. However, in order to be successful in harvesting the usable parts, you will need a fair amount of mechanical skills. If you don’t, you will need the help of a seasoned mechanic.
How To Tell Which Option Is Right For You
Which option you choose to get rid of the car is entirely up to you. Figuring out how to sell car parts will depend on your priorities and skill set. It’s also important to know how to sell a car with a loan.
Here are a few reasons you might want to go with one option over the other:
When To Sell The Whole Car
It will likely be a better idea to sell the whole car when you need to get rid of it quickly. If you are looking to get it off your hands and your mind, you won’t want to hold onto it for the time being, it will take to harvest all the valuable parts and sell the car parts one by one.
Additionally, you will do better to sell the car for parts as a whole to a salvage yard or to a private buyer on Facebook marketplace rather than selling parts individually if you are not particularly mechanically inclined. It’s necessary to be a skilled mechanic to harvest a vehicle to sell parts, so you’d need to hire someone to help you if you can’t do it yourself.
When To Sell Individual Car Parts
When you are not in a hurry and can take your time, selling the car parts individually may be able to make you a higher price for your car overall. You can ask for top dollar for the used car parts that are in excellent condition, but you need to have a lot of free time and be in no hurry to get rid of the dead vehicle.
If you know your way around a car and can remove parts with ease, it could be well worth your effort and make more sense to get the best price for the salvageable parts so you can get that new dream car you’ve always wanted.
How To Budget For a New Car
Having to purchase a new vehicle unexpectedly can put a significant strain on your budget. Most people don’t just have the cash laying around to buy a brand new car, especially when you weren’t able to sell your car for its total trade-in value. You can’t be reckless with your money, but transportation is non-negotiable, so here are a few tips for buying a new car with bad credit:
Use The Money From the Junk Car
Put the cash you made from your old car towards purchasing your new one. Even if you only made a small amount by selling it to one of the local car scrap yards, every dime counts and can minimize the damage this unexpected expense has on your monthly budget.
Buy Something That Will Last
Though it might be tempting to be drawn in by the cheapest price you see on a new car, you need to keep in mind the possible costs that might come after the sale. Some vehicles might be incredibly cheap, but you end up needing to take them into the mechanic constantly, which will cost you more cash in the long run. It is wiser to spend a bit more cash to buy cars that you know will last a long time.
Do Your Research
Whether you are buying your vehicle from a private seller or a dealership, make sure to do thorough research. Look up the Kelley Blue Book trade-in value to know you are being offered a fair price. If you are purchasing the vehicle with an auto loan, do some comparison and rate shopping to get a good deal with interest rates.
Stay Within Your Means
Don’t spend more on your new car than you can actually afford! Before making any big decisions, sit down with your monthly budget and calculate precisely how much you can afford. Like other installment loans, auto loans will affect your credit. When purchasing your new car, you must ensure it fits your budget alongside all your other necessary expenses to avoid late payments.
FAQs About How To Sell Your Car for Parts
It’s essential to assess the condition of your vehicle, especially the essential components. You can also consult online platforms or local salvage yards to get an estimate of your car’s value based on its make, model, and condition.
Some scrap yards might offer free towing for junk vehicles, while others might charge a fee. It’s always a good idea to inquire about any potential shipping or towing costs upfront.
Not all salvage yards provide free recovery. It’s crucial to check with potential buyers or yards in advance. Some might offer this service, especially if your car has valuable vehicle parts they’re interested in.
Selling your car privately might fetch you more money as you’re dealing directly with the buyer. However, selling to scrap yards can be quicker and more convenient, especially if they offer free towing.
Engine parts, transmissions, exhaust systems, and electronic components are often in high demand. Ensure these components are in good condition to attract potential buyers and get the best price.
If you’re selling to a salvage yard, many offer towing services, sometimes for free. If selling your car to a private party, you might need to arrange for a tow truck or discuss the logistics with the buyer.
Always do your research. Check reviews and ratings of scrap yards or potential buyers. Ensure all transactions are documented, and avoid accepting offers that seem too good to be true.
What CreditNinja Wants You To Know About Selling Your Car
Know that you know how to sell your car for parts, you can decide which selling option is best for you. If you know the ins and outs under your car hood, you can strip the car yourself. But if you lack knowledge of car repair and maintenance, it may be better to sell the entire car to a scrap yard.
If you only want to sell your car because you need money, consider applying for a CreditNinja personal loan instead. While it’s possible to get a personal loan by using a car as collateral, our online loans do not require collateral! You could get quick cash loans without using your car!
Read our online reviews to learn why we have so many satisfied customers, and fill out our quick online inquiry form today!