What to Do When Your Used Car No Longer Works
You’ve had the beauty for many years, and it has served you well. You are now in a tough spot since it is an old model and worn. The car’s parts are failing, and it is to the point where you are spending more on repairs than the vehicle’s market value. There are several options you can consider.
You can sell the vehicle privately. There may be someone who likes to tinker with old cars and is willing to take on the challenge of fixing or restoring it. When you do advertise the car, never pass it on as being in good working condition. Be honest about the vehicle and mention all the issues you have had with the vehicle.
Check with a used car dealership to see if you can trade in your vehicle for the purchase of another car or see if they would buy the vehicle outright from you. The dealership will assess the vehicle, give you a quote, and deduct that amount from your purchase.
Have a mechanic check your car and determine your vehicle’s condition and life span. A professional mechanic will usually not beat around the bush and will tell you if your car is worth keeping or selling. They may even want to buy your car for parts.
Better yet, sell the car parts yourself. In some cases, car parts are worth more than the vehicle itself. It is the reason why many car thieves steal car parts like catalytic converters, instead of the whole vehicle. Other car parts that sell are the car battery if it is fairly new, tires and rims, stereo equipment, car seats, valve stem caps and car bumpers.
Consider donating your car to a registered charity that takes inoperable cars or car parts, or to a vocational school that offers courses on auto mechanics. When you donate a vehicle to charity, you will not receive any money, but you can claim the fair market value of the vehicle as a tax deduction on your federal tax return. Make sure you get a tax receipt.
If you do not want to spend time to do any of the above, you may just want to junk your car. Some junkyards will offer cash for broken down, nonworking vehicles, as they, too, can sell the vehicle’s working parts or crush the car and sell the metal. You may have to pay other junkyards to take your car, especially if they have to tow it to the junkyard.
When in the market for a used car, stop by Carousel Preowned. Carousel Preowned serving Iowa City, Cedar Rapids, Davenport, North Liberty, Marion, and Coralville, IA, is proud to be an automotive leader in our community. We do our best to ensure your complete satisfaction every time you step into our car dealership. This is why we offer the widest selection of used and pre-owned cars, trucks, and SUVs and provide true ease of purchase in Iowa.