1. Sell it to a private party. Your car has the most value to a private seller. Selling via private party will generate the highest return in the Cleveland, OH market, by getting you closest to the current Kelly Blue Book (KBB) price. The disadvantages are: the length of time before you find a buyer and the problems and time required to advertise and coordinate meetings with interested buyers and negotiating a final price with potential buyers. If your car is running, it is not a truly “junk” or “scrap” car and is valuable to someone for basic transportation.
2. Give the car away as a gift. Maybe an acquaintance is in dire need of basic transportation? This will allow you to get your scrap or junk car moved with minimal problems.
3. Donate the car to charity: Cars can be donated to charitable organizations in most US states. The market value (price) is deductible as a donation for income tax purposes. With the current US tax laws getting increasing complicated, it is best to gather information to insure eligibility for the full deductible benefit amount. You should consult your tax professional before moving forward.
4. Automobile dealership trade-in: If you plan to purchase a vehicle from a dealer, they will have an incentive to buy your old car, junk car or scrap car as part of the deal. The reality in these cases is that the dealer offer to buy it is likely to be 15-20% under what can be gained via a sale to a private party. Another common negative is for the dealership to make a fair market value based price for your car, but in reality the sale price of the new vehicle that you are buying there is inflated to insure a large profit. (often they will “bury” the cost in the financing in many cases)
5. Sell your old, non-running vehicle for scrap: US cities all have salvage sites with car shredders. This option is best if the car is a not running or needs costly repairs. Most major metro areas have several “cash for car buyers”. The scrap or junk car buying industry usually will include towing of the vehicle as an extra benefit to sell your car for scrap.
6. Are the components on your car valuable? You may be fortunate enough to find a private vehicle owner or auto items house that is actively searching for expensive items for that specific vehicle.
7. Fixing your old, junk or non-running car, truck or van and using it yourself. If the above options are not feasible, it may be best to keep it. Some vehicle repair sites will apply new paint and fix minor body wear for as low as $450. If you shop around and find a service technician, you may find an affordable enough solution to fixing the remaining mechanical problems and simply retain it.