We’ve all been there. You are driving along minding your own business when out of nowhere you hear a horrible noise from inside your engine. Boom. Glug. Glug. Chug! You’re now left coasting down the road after your car has completely broken down with you at the wheel. You pull off to the side of the road and think to yourself “ Not again!”. You’re now left with a broken car. This probably isn’t the first time this has happened to you and it probably won’t be the last time it happens either. It’s time to think about getting rid of your junk or broken car!
There is an old saying that says “Cash Is King” and that’s never been more true then when it comes time for getting rid of a broken car. Usually owners are looking for the fastest way to get cold hard cash so they can put that money directly into purchasing another car. For many owners, their car represents their livelihood. Their ability to get to work and put food on the table for their families. This is why it’s so important to get the cash you need, even if your car is broken, old or damaged!
In this article we will answer the question “Who buys cars for cash?” and what is the best option for you to recover the most money, in the fastest way possible.
Why Sell Cars For Cash
Chances are if you are looking to get cash for your car, you have made the determination that it is no longer worth it to fix your vehicle. If you have not, the best place to start is a professional analysis of your car and the appropriate repairs needed to get you back on the road!
It’s best to get at least three estimates for the proposed issue with your vehicle. Once you have a solid estimate of what it will cost to repair your car, it's best to compare this repair price against what your car is actually worth. Utilize a variety of resources (KBB, Edmunds, etc) to determine the fair market value for your car in WORKING condition.
Then you would take the fair market value of your car, subtract the repair estimate and see where you’re at. You’ll need to determine the likelihood of the issue again, as well as other pressing issues with your car to determine if a cash for cars option is best for you.
Now let’s determine the best cash for cars option!
The first place many people think of when it comes time for selling their broken or damaged car is the local classified website Craigslist. Craigslist is a free tool that allows people to sell items of all types. It is by far the largest and most common way to sell a used car throughout the United States. There is no fee to use the service and the website is generally easy to use. Sounds like Craigslist is a great place to connect owners with buyers who are looking to buy cars for cash, right? Think again!
Yes, on its face, Craigslist is an awesome option for getting the most out of your broken or used car. However, this is absolutely a classic “seller beware” type of scenario. There are hundreds, if not thousands, of stories out there about people who have been scammed by selling their cars on Craigslist. Everything from thieves who rob unsuspecting owners of cars, to complicated wire scams or cashiers check scams.
In addition to scams, buyers on Craigslist are often hustlers who are looking to take your broken car, fix it and sell it again for a profit! Why does this matter to you? Well, these buyers are often going to immediately grind you down on price so they can turn a larger profit when they resell the car later on! These buyers are often expert negotiators and will use a variety of tactics to get you to lower the price of your vehicle.
In truth, Craigslist is full of buyers where are looking to give cash for cars but the amount of cash you get and the hassle involved don’t always add up to a good idea for you!
If you’re a savvy automotive enthusiast who is able to take apart a car and also put a car back together, then parting out a car may be a good option for you. This basically means that you are going to dismantle your car and then sell off the individual parts for cash. As you can imagine this is quite an endeavor!
First off you’re going to need the room to dismantle your car. If you live in an apartment or congested urban area – this may not be the best option for you. Not only will you need space to dismantle your car but you will also need space to store the parts that you have taken off your vehicle.
You are also going to need a multitude of tools to complete the job. You’re going to need everything from wrenches and breaker bars to electric impact guns and saws. Most cars have a variety of different types of bolts and fasteners that make dismantling very challenging. Depending on the make and model of your car, you may even have to get special parts from the manufacture to remove certain pieces from the car.
Once you actually remove the parts from your car you have to go about selling them! Typically you can use sites like craigslist or eBay to accomplish this. Keep in mind that the same issues of selling your car in craigslist will apply if you’re selling parts alone. eBay is also a lengthy process where you were may not get paid for weeks after selling the part! Yes, weeks.
Unless you are an extremely savvy automotive enthusiast, I would highly advise not partaking in a parting out process. There are much better ways to get cash for cars.
Selling To A Dealer
Here’s another classic example of seller beware; the automotive dealership. You will often see signs at local dealers saying that they will buy your car for cash. For many sellers, the convenience of selling a vehicle to a legitimate dealership or group of dealerships can seem like a great way to offload a broken or non working car. While these are legitimate operations, you are often saddled with a few sobering realities.
Much like a buyer on Craigslist, a dealership is going to give you minimal amount possible for your broken or non working car. Their intention is to take your broken car, fix it and sell it on their lot. Alternatively, they may be looking to auction your car. Either way, the dealer is going to be looking at making a profit. This means you are going to be out!
Also keep in mind that you will need to get your car down to the dealership for inspection. Often times dealerships will verbally give you a price over the phone and then completely change the agreed upon price when you get in the door. This ‘bait and switch’ tactic is shady, yet extremely common. It unfortunately prays upon people in desperate situations.
Lastly, we need to address Carmax, which is the largest used car retailer in the Country. They make a very clear point to indicate that they will buy your car, no matter the condition. While this may be true, there are several things to keep in mind if you are trying to determine if they buy cars for cash.
Carmax does not provide a cash payment for your vehicle. Instead, they will exam and price out your vehicle and then provide you a check that you will need to cash or deposit for access to the funds. Depending on your own needs and your own scenario, this may not work for you. Also, you will need to get your car down to Carmax and also few with the lowball offer you are bound to receive.
Can you really afford to keep moving your car from place to place? Rest assured, although selling your car to a reputable company, this probably isn’t the best scenario for you either.
Junkyards are a decades old business and often claim to buy cars for cash. While true, these businesses operate under the same conditions and pretenses as a dealership or even like a a buyer on a platform like Craigslist. They buy cars for cash and provide owners a valuable service but this service is not without its downfalls.
Junkyards typically operate a parts for cash or metal recycling business that is supplied by owners of vehicles who are looking to sell their cars for cash. The junkyard takes in the car and then dismantles the vehicle, selling off its valuable parts and pieces. You’d be amazed at just how lucrative a junkyard can be!
As with other methods of getting cash for cars, you must consider that this is a business that intends to male a profit! You must also consider that you will need to transport your car to a junkyard and deal with a pressured negotiation upon your arrival.
Overall, this is just another way to get cash for cars that is riddled with difficulty and the opportunity for a savvy company to take advantage of you while you deal with maximum hassle!
Depending on the condition of your vehicle, you may consider selling your car to a metal recycler. These operations are similar to junkyards but they are not in the business of removing parts. Essentially, they crush and melt your car In order to sell the metal for scrap. Most vehicles have a variety of materials within them and metals like steel and aluminum do carry quite a bit of value on the open market.
As with other businesses, The primary goal of a metal recycler is to make money! You will need to transport your car to the metal recycling yard, which are often outside of city limits, and then deal with a lengthy negotiation process once you arrive. The amount of money you get for your car is often dependent on the market price of scrap metal. Since this is a commodity, the price is often completely variable depending on the time of year. Recently, steel and aluminum have seen a surge in pricing.
Much like the other methods of getting cash for cars, you need to consider a hassle any amount of money involved if you decide to go to a metal recycler. Depending on the type of car you have, you may be giving away thousands of dollars in value by only considering what your car is made of.
What About Selling My Car to Cash Cars Buyer?
Unlike the frustrating process of trying to get the most cash for your car, Cash Cars Buyer is easy to use and fast! Simply request a quote for your vehicle in ‘as-is’ condition. Based on your vehicle’s information and condition, we will offer you a fair price. Once you accept the offer, we’ll pay you for your vehicle and have it picked up. There’s no charge to use our service, and you’ll get money for your broken-down vehicle. You don’t even have to hassle with taking your car down to a location! How great is that!
What is your time really worth? That’s the question that really needs to be considered when looks at the best cash for cars option. If you have extensive time to devote to working on selling your car, then ignore this advice. Chances are high that your time is valuable and that you have no desire to waste your time.
This service can be exceptionally helpful to those that are looking to get the most they can for their vehicle and put the cash into something they actually want to drive and fast. Cash Cars Buyers is a fast and seamless process that gets you the cash you need today.