Cars are terrible investments. New cars depreciate about 20-30% in their first yearand continue to lose value after that. Eventually, your car bottoms out in terms of resale potential and stays there for a bit before descending into its final form: the beater. Of course, the value of a car is not measured solely in financial terms. There’s also the use you make of it, and many people are perfectly happy driving an old car as long as it serves its intended purpose..
Hang on to a car long enough, though, and it will eventually just refuse to start or start running so badly that you really can’t drive it anywhere. When this happens, it’s time to buy a new vehicle, and know what to do with the old one. The easiest option is to throw it away, as the junkyard will send a tow truck and pay you (a small amount) of money for your car. But there are other options that might make more sense if you want to maximize the value of your non-functional drummer.
Redeem it in
Believe it or not, you box sometimes trade a drummer that doesn’t even spin. If you’re buying a new car, your car dealership will be your best friend until the deal is done, so they’ll be ready to help. Even cars that don’t drive have some value, so a dealer eager to make a sale can happily throw you more than a junkyard would pay in exchange. However, dealers may not be willing to pay to have the vehicle towed, so this may only be an option if your drummer can handle one last ride, or you have other means of getting it there.
If you are mechanically capable, consider disassemble your mixer yourself and resell the parts. Even an old car that no longer drives is worth more as a set of parts than as a complete vehicle…that’s why the junkyards will pay you for a car that doesn’t drive. It requires tools and timewhich are non-monetary costs that you must take into account, and there is more involved than just remove and clean the parts. You will also need to research how much to charge for each parts and then to find buyers for them. Still, if the reason your drummer has lasted decades on the road is because you love working on cars, this could be a great way to turn an old car into cash.
Try apprivate sell
You’d be surprised how much interest an old car can generate. In today’s crazy used car market, some people with mechanical skills and experience may be looking for a cheap car that they can fix themselves. Others will look for pieces they can use for a business or hobby. Whatever the reason, it might be worth tossing your junk pile in the classifieds or a online forum To see if there is someone ready to outbid the dumps and come haul your pile.
give it away
Because even old ruins contain valuable parts, charities are very happy to accept car donations even if the car is not running. They will usually pick up the car, but won’t pay you directly. Instead, you get the tax advantages of a charitable donation based on the paper value of the car, which is usually not very high. That’s why it’s attractive to the charity – the real value of the car is usually higher if you’re willing and able to put in the time and effort to sell it some other way. But this tax relief is not nothing, and you also get the eemotional benefit of knowing that you have helped a good cause. Just make sure you know what the charity is actually doing – some of the charities looking for car donations obscure their true purposeso a little research to make sure you’re supporting a cause you want to support is worth it.
In the end, even a car that has recently transformed into an immobile sculpture of a car retains a certain value, and you owe it to yourself to make the most of it.