Are you planning to dispose of your broken car? There are many ways to sell a broken car in the US. Many companies specialize in buying damaged, salvaged, or broken vehicles.
Selling broken cars is not an easy process. You have to find the right junkyard in your locality to get a reasonable deal for your vehicle. Only a legitimate company will offer the best rate and a free pick up of your car from your home.
Here are the five best tips to help you sell your broken car.
- Check the State Rules and Regulations
If you decide to sale broken car in the US, you have to learn about the lemon laws applicable in your state. Cars that have major defects and are broken beyond repair are known as lemon, hence the name.
For example, suppose your car turns sour within 18 months of the vehicle’s delivery in California. In such a scenario, you can try to replace it or get a refund from the manufacturer based on certain conditions.
Hence, before you try and sell your damaged car, it is essential to know if you are eligible for a refund or a replacement from your manufacturer.
- Prepare the Necessary Documents
If your car has been deemed unfit for repairs, you have to prepare to dispose of it. It is essential to gather certain important documents to start the selling process.
Some paperwork that you may need include:
- Title of ownership document
- Insurance papers
- Odometer disclosure based on state laws
You must connect with your local Department of Motor Vehicles (DMV) office to get the necessary forms to get these documents ready.
- Select the Right Buyer for Your Car
There are three types of buyers you can find for a broken car.
Private Party: Some car enthusiasts may purchase your broken vehicle, repair it, and sell it at a higher price for profit. These transactions are primarily paperless and a quick way to get money for a damaged vehicle.
You can also sell your automobile through an auction. Here, possible buyers will quote their rates and compete to buy your car. You can choose the highest bidder and sell it for maximum profit.
Damaged Car Buyers: You can choose to sell your car to online or local car buying companies in your area. You have to fill a few forms, submit the necessary documents, and get the best quotes for your broken vehicle.
Based on the extent of damage and the current market value of the model, these companies will offer the best price in exchange for the repaired car.
You can also try to sell it to reputed car dealers. They can help you get a brand new car in exchange for discounted rates.
Junkyard Companies: It is one of the safest and easiest ways to sell a car. A professional junk car dealer will inspect the car and offer to take it at the best price possible.
These companies also offer free pickup services and give you cash in return.
- Remove and Sell Valuable Components
Another good tip to sell a broken car is removing valuable parts and selling them separately. Although your car is severely damaged, some parts may be in working condition, like the battery or alloy wheels.
You can disassemble these parts and sell them to get a higher value for your car. The rest of the vehicle can be sold as scrap.
- Report the Insurance Company and DMV
Once you have sold your broken car, you must inform the insurance company to cancel the policy. If you fail to inform the company, you may still be charged premium payments for your vehicle.
It is essential to submit the license plate and get a DMV junk slip from the state authorities. It ensures that you are no longer the owner of the vehicle.
It keeps you safe from penalties and charges for future damages and legal issues related to the car.
You can use the above tips to safely sell your broken car and sign the best deals in the market.