How to Sell a Car to a Salvage Yardby Kenneth W. Michael Wills
If you are looking to remove that unsightly vehicle that requires a hefty investment to get it running again, but has no problem taking up space on your property, do not despair. Depending on the current condition of the vehicle; a salvage yard will give you some extra spending cash to take it off your hands. Here is what you need to do to get that wrecked vehicle banished in short order.
Contact salvage yards in your area. Inquire whether they are interested in buying your vehicle. If a salvage yard expresses interest, they will do so in the form of asking you several questions regarding the car. Contingent upon the facts gathered, the representative from the salvage yard will provide you with an initial quote for your car, pending an inspection.
Remove all personal items from the vehicle and take out all equipment you might want to keep, such as a stereo. Once the salvage yard takes ownership of the car, you no longer have the right to secure anything from the vehicle.
Arrange transport of your car to the salvage yard. In some cases, a salvage yard may offer towing free of charge from your premises. Be sure to inquire during the initial conversation.
Present your car for inspection. The inspection will be performed by a representative from the salvage yard and depending on transport arrangements, can either take place at the salvage yard, or on your property. Upon conclusion of the inspection, the representative will make a final offer that is usually non-negotiable; your options will include acceptance or refusal of the offer.
Relinquish the title and keys to the salvage yard. You will be required to sign over the title to the salvage yard and the title status will be changed to "salvage." Upon signing over the title, the deal matures to completion and the salvage yard will remit payment for your vehicle.
- check Different salvage yards will likely provide you with varying quotes, so be sure to secure several quotes before accepting a final offer.
- close If the wrecked vehicle still runs and estimation to fix does not exceed the cars value, a salvage yard will not yield as much cash as selling the vehicle retail or even using it as a trade-in. Only contact a salvage yard if the vehicle does not run and the cost of repairs negates any potential gains from selling retail or severely diminishes trade-in value.
Items you will need
- photo_camera wrecked car image by hazel proudlove from Fotolia.com