How To Maximise Your Profits When Selling Your Old Car To An Automotive Wrecker
Got an old car? Ready to turn it into cash? Then, it may be time to sell it to a wrecking service. First, to make sure you are getting a good deal, ask yourself a few questions such as the following:
1. Is the vehicle repairable?
Before turning over your vehicle to a wrecker, you need to ensure that it has really completed its working life. Take it to a mechanic and see if it could be repaired. If it is just a small part that will get it running again, you may want to invest a little cash and then keep or sell the vehicle instead of handing it over to the wrecking yard.
2. Is there anything of value in the vehicle?
The metal on your vehicle may make it valuable to a wrecking yard, but if you want to maximise your profits, you need to strip anything that has value in addition to the intrinsic value of its metal. For example, if you have a stereo, a set of speakers or even some fancy floormats, take those out and sell them separately.
3. Can you turn the vehicle or its parts into a tax write off?
Even if you don't sell the valuable parts of your vehicle, you may be able to get a bit of extra money by donating them. Donating things does not put cash directly into your pocket, but if you donate the items to a deductible gift recipient organisation, you can write off the value of those items on your tax return.
That offsets your tax burden and ultimately saves you money. If the car is in good enough condition, you may even be able to donate the whole thing and get an even larger tax deduction.
4. Have you chosen the best wrecker for your wallet?
If you decide to sell your car to a wrecking service, don't just take it to the first wrecker you find. Instead, make sure that you call around, get a few quotes and choose the wrecker who is going to have the biggest impact on your wallet.
5. Have you looked for a specialist wrecking service?
In some cases, it may make more financial sense to find a wrecker who specialises in certain types of vehicles. For instance, if you have a Nissan and the wrecker specialises in that type of car, the wrecking company may be more likely to salvage parts and pay you a premium for them before wrecking your vehicle.
For more information, contact a car wrecker, such as Just Nissmaz Pty Ltd.