There comes a point in a car’s life – perhaps upon the fifth pricey repair in three years – when the owner has to make a choice. What will I do with my car? It might seem fairly obvious that you use a car for a certain amount of time and then get rid of it. After all, cars are depreciable assets, typically losing between 9% and 11% of their value the moment they are purchased. Tracked by things like mileage, age, and general condition, it is usually fairly obvious when the time has come to get rid of your car. But how do you get rid of it?
There isn’t only one option, and the various options you do have will not all make you the same amount of cash. The situation can also be made a little more complex if you have formed some kind of sentimental attachment to the car and you wouldn’t like to see it go or, if it must, would like to see it driven again by a second-hand owner.
These are the many considerations that arise when your car has broken down just one too many times. But what can you actually do?
Consider a Dealership
In the majority of cases, it is usually a dealership sale that proves the most popular for those looking to shift an old car. This is because a good dealership, such as Cash for Cars in San Diego, will be willing to take on your car in almost any condition, meaning there are no restoration costs for you ahead of the sale. The reason dealerships are so willing to take almost any car is that they not only have the resources to restore it ahead of a sale, but they also have the market reach and connections to nationwide outlets which allows them to find a buyer very quickly and very easily. If you are thinking that “I would like to sell my care in San Diego” or the surrounding area, Cash for Cars in San Diego is one such dealership with the expertise and market reach to make a sale happen.
Restoring the Car Yourself
Of course, there are situations when you might want to a restore a car yourself. The best time to do this though is when selling to private individual and when the car is a little newer. Thus, it is not actually the best option for a car at the end of its life. Without the restoration resources and facilities that a dealership can offer, and saddled with an unappealing old car, you are unlikely to be successful when selling privately. Even if the restoration you perform restores the car to a sealable state, it is unlikely the money spent on the restoration will not exceed the extra you ultimately make on the sale.
Junk the Car
Junking your car does not mean throwing it away for hardly any cash at all. In fact, with a proper appraisal of its condition and, more importantly, the value of its intact parts, you can actually make a decent sale. This is especially true if your car has been recently serviced, meaning it perhaps has several valuable parts that are actually newer than the rest of the vehicle. In such cases you should seek out a professional auto-salvage business, and really get the proper worth of those parts.
Dealerships will also sometimes purchase a car in poor condition in order to strip it for parts. This is another reason why a reputable dealership will always take your car – regardless of the condition.