If you have a car that you no longer use, there are plenty of ways to make some quick money. No matter how new your vehicle once was, every vehicle begins to age. However, there are various parts of a car that have great value and could see you receiving a good quantity of money. Here are 10 ways to make money from your old car.
Dismantling and Selling Key Parts
One of the best ways to make money from your old car is by dismantling and selling key parts. As every vehicle has several key parts, they can be used for other cars that are having mechanical problems. Some parts of your old car can be incredibly valuable, such as the sound system, trim pieces, lights, and more. All you need to do is remove the parts from your vehicle piece by piece, take photographs, and then list them on an e-commerce website such as eBay.
Selling for Scrap Metal
Another common method for getting some money from your old car is by selling it for scrap metal. Every car has a lifespan with it becoming junk in the end. If your vehicle is not in good working condition, it may be the perfect time to sell it for scrap. Companies like TakeMyScrapCar can do all the hard work for you and give you more information on how to ‘scrap my car’. If you visit their website, all you need to do is input your vehicle’s registration, your name, email, and phone number, and someone from the team will be in touch to assist you.
Selling to a Used Car Dealer
With the used car industry growing each year, the industry shows little sign of slowing down thanks to the growing consumer appetite for old cars. Take some time to contact several used car dealerships in your area to get more information on how much your old car could be worth. You will want to get the best possible price for your old car, so make sure to shop around rather than accepting the first offer.
Selling to Parts Pickers
Another unbeatable way to make some cash from your old car is to sell it to parts pickers. Dismantling your old car is not an easy process and will require mechanical expertise to separate and remove key components without causing any damage. There are also huge environmental and safety concerns that come with dismantling cars, so it’s best to speak to parts pickers who have the knowledge and training to assist you with your queries.
A simple way to make money from your old car is by going down the auto consignment route. This is when you hand over your old vehicle to a third-party who will sell the car on your behalf. The role of a third-party is to act as a mediator between the seller and buyer of the old car. However, be warned that you will need to pay a fee for this service.
Flipping Used Car
A car flipper is someone who purchases a vehicle at a low price before selling it at a higher price. A car flipper must possess the talent to identify and analyse reasonably priced vehicles that can go on to be sold at a higher price. Throughout the process, he or she must perform reconditioning marketing to attract as many buyers as possible.
Selling Your Car’s Number Plate
A unique method to earn some money from your old car is by selling the number plate. Also known as the vehicle registration plate, the type of plate you have can bring you great fortune, providing the vehicle owner proves that it’s unique in nature. If your registration plate includes a unique collection of initials or words, you could receive more money than you anticipated. There are several websites that you can use to get a free evaluation of your number plate.
Make Money with Your Old Tax Disc
Although it’s one of the rarer ways to make money from your old vehicle, you can still earn a fair bit of cash with your old tax disc. The tax disc is a small piece of paper found on the corner of your front windscreen. The disc indicates that the tax due has been paid. If your tax disc is in good condition, you may be able to make some money from it. There are people out there who like to collect tax discs with a 1921 one being sold for £810.
Sell Your Car to an Individual
If you would rather cut out the middlemen, you may be interested in selling your car to an individual. This can also help maximise your chances of retaining most of the total sale value. There are various websites such as auto trader which allow you to sell your car directly to interested buyers. However, be warned that you will have to invest more time going down this route before the deal can be closed. You should also be realistic in how much you want for your vehicle. Potential buyers will have a good idea on how much your car is worth, so it’s best to get an evaluation before you put your old car up for sale.
Rent Out Your Old Car
If you aren’t prepared to say goodbye to your old car just yet, you may benefit from renting it out instead. You can rent your car out to another person or even tourists to make some extra cash. If your old car is left to collect dust in your garage, this could be a fantastic option for you. It is useful for those who live in a big city or an area that attracts tourists. However, ensure that your car is in working condition beforehand, so drivers who rent your car can be assured their safety and security are the number one priority.
Instead of leaving your old car to gather dust, you may not realise how much of a goldmine it can be. Whether you choose to sell car parts, the whole vehicle or even rent it out to somebody else, there are all sorts of ways to make some extra cash from your old car.