How To Dispose Of A Wrecked Vehicle And Gain Cash In The Process

How To Dispose Of A Wrecked Vehicle And Gain Cash In The Process

How To Dispose Of A Wrecked Vehicle And Gain Cash In The Process

In today's confusing and frankly terrifying economic climate, everyone is looking for some extra money to see them through the hard times. So if you have an old wrecker sitting in your front yard that you've been wondering how to get rid of, don't do anything before reading this post. If you play your cards right, you might be able to achieve two goals at once, get rid of the wreck and make some Benajmins in the process!

Find A Local Junk Dealer To Take It Off Your Hands

The most efficient and arguably easiest option when getting rid of a wrecked vehicle is to contact your local junk dealer and let them take it away. This is often the most desirable option because they handle all the risks while you pocket the money and free up space that you can use for better purposes. Nevertheless, you must ensure that the company you want to use will accept your vehicle, whatever its condition. You can usually find this information online at their website. At, this Florida-based business clearly shows on its site that they accept a vehicle in pretty much any condition, from a basic blown engine to completely trashed. However, you should also understand that although you are often selling for scrap prices, the state it's in will dictate the amount of money you'll receive. Furthermore, you should be prepared to provide any pertinent information they may need to prove ownership and ensure everything is done legally. Nonetheless, if you are simply looking for a quick, reliable, and hassle-free method of getting rid of your junk car, this is probably your best option.

Turn It Into Art And Sell It (If You Are Artistically Inclined!)

The second option you have is related chiefly to those who have an artistic bent and don't mind waiting to find a buyer for their art! Nonetheless, it's still an option that could net you some serious cash if you are a well-established artist or have connections with deep pockets! OK, so this tip isn't actually likely to earn you anything, but it can be a fun project to mesa round with and see what you can create. In fact, there's a high chance that if your creation ends up looking fabulous, you'll probably want to keep it all to yourself and display it proudly where once its former shell sadly sat.

Fix Her Up And Sell Her On (Just Be Careful About Your Costs)

This tip kind of follows from the previous one, but it has a higher chance of making you some money. If you happen to be someone who enjoys mechanical things and has been looking for a project to get your wrenches stuck into, look no further. Although fixing it up will depend heavily on your skill and the condition of the wreck, if you are able to breathe new life into it while keeping your costs low, you might be able to sell it for a tidy profit. The key is choosing what you want to do with it once you've repaired it. For instance, if you are dead set on selling it for a profit, you'll need to avoid spending too much on the very best parts (unless the car is valuable enough). 

Conversely, if you think you might want to hold on to it, you are free to invest a little extra to make it exceptional. The idea is to treat it like you might when renovating a rental home. In other words, if you will live there, go nuts. If you'll rent or flip it, only put in the amount you hope to make back.

Scrap It Yourself And Sell The Parts

Another option you have at your disposal if you're a particularly handy person is to scrap it yourself and sell the parts individually. Since most components are made using relatively rare materials these days, you can often sell them for a pretty penny. Things like catalytic converters are absolutely rammed with these substances and fetch such a high price that thieves will risk lengthy prison sentences and rip them from modern cars, sometimes in broad daylight. Moreover, if your vehicle is no longer manufactured, you might find a market selling parts like doors and lights to other enthusiasts.  

Donate It To Charity And Claim A Tax Deduction

This final option is a little less obvious, and to be honest, you should consult with your accountant before choosing to add it to your tax return. However, if everything is legitimate, you can sometimes gain a deduction on your tax rate by donating to charity. Nevertheless, as stated, this might not be the best choice and will be determined by the condition of your vehicle. Most charities don't want the hassle or expense of accepting complete junk, and it's really bad; they might politely decline your offer. It's still worth considering though hence why it made the shortlist!

It's relatively easy to dispose of a vehicle wreck, but what's more challenging is profiting from it. While some options in this list might be a little outlandish (you probably won't sell your car art), others, like selling to a dedicated scrap dealer, can yield more than you might think.