Old Clunker Sucking You Dry? How To Turn Your Beat-Up Car Into a Profit

Friday, March 31, 2017, 6:00 AM | Leave Comment

If you have an old car that is in constant need of repair, it could cost more than it is worth to keep on the road.

The good news is that there may be ways that you can make money from your vehicle that may help you pay for a newer model.

Let’s look at some specific ways that your old junker can go from a money pit to a money maker.

Old Clunker Sucking You Dry? How To Turn Your Beat-Up Car Into a Profit

  • Sell Parts Individually

    One of the best ways to make money from your vehicle is to sell individual parts. While you may only be able to get $500 for the car as a whole, someone may be willing to pay $100 for the motor and another $50 for spark plugs or other engine components. This is because collectors may be looking for specific parts that are hard to find or looking for components that they can restore and sell for a profit themselves.

  • Sell It As A Whole

    Some people may be looking for the perfect project car and could be willing to buy the whole thing off your hands. There are also companies, like U Pull & Pay, that will buy and haul off the entire car to sell it for parts. Whether it’s to an individual or a company, if you can sell your car as a whole it will save you time and hassle.

  • Sell the Metal to a Processing Plant

    Your car’s metal frame may be worth money to a company that will melt it down and resell it. If there is any copper wire inside of your vehicle, it may also be worth money. In some cases, the scrap metal company that buys your frame or other car parts may be willing to haul away whatever it buys.

  • Give the Car to Charity

    When you donate a car to charity, you generally get a tax deduction. Therefore, you get an indirect financial benefit while also helping a good cause at the same time. Most charities don’t care what condition your car is in, which means that even your old junker could qualify for a charitable deduction.

Just because your car is old doesn’t mean that it doesn’t have any value. Whether you choose to part it out, sell it to a junkyard or give it to charity, there are many options available to help you get rid of your car while also making a profit.

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