Who doesn’t like easy money? We are sure if we tell you a secret that can get you some extra bucks without you doing much work, you will not just like it, but it will be on your to-do list for the next day.
If you are intrigued and are keen to know, stay with us because we are going to discuss making money by selling broken cars.
Well, this might have made you laugh or you might dip into thinking, ‘another nonsense way to make money,’ but trust us, this is a thing and many Americans have been successful to make that extra cash.
As we get into the details, we will go through how to sell a broken car – how to start the process and get done with it, what documents will be needed, who buys the scrap cars, and how much money you will be making.
The Process of Selling Broken Cars
Do you own a car that is of no use anymore? Or maybe a vehicle that your grandfather bought during his youth and now that car is nothing more than a burden on you to keep it in your garage – One because no one would buy it, and number two, it needs too much repair work, that if you estimate could buy you another second-hand vehicle.
If you fit into the above scenario or nonetheless if you have a junk car in your garage for any other reason, you might be interested in selling it off to profit for some extra cash.
In this case, here is what you need to do to get started. With the help of available value calculators, get the value of your broken car. This might sound funny, but you can get this from many companies that buy junk cars. For this, all you have to do is, email your intent of selling your broken car to the company with the details and they will get back to you with a quote.
Sell Your Junk Car and Get the Cash
This may not be as easy as it may sound, but worry not, you won’t have to do much of a hassle. Once you get the quotes from various companies, you can easily shortlist the names and then contact each company and get details for the offer.
Pro Tip: We suggest before you decide on the company, take a thorough look at its authenticity and validity. Many scams act as though they are a reputed company but are fraud in reality.
Moving back to the point, once you choose the company and are done with the initial dialogue. The next step would be to gather the paperwork in order to start with the selling process. The below list of documents will help you out to ensure that you have all the documents in your possession.
Documents Required for Selling Broken Cars
The required set of paperwork depends from state to state, but some documents are must-haves to continue the process smoothly.
- Car Title – Proof of Ownership
- Your driver’s License
- Current Registration Certificate
- Proof of ownership transfer ( If the car was owned by a family member or anyone else before you)
These are the most important documents that you must have when planning to sell your junk car. However, the list is not limited to this. You may require some additional documents as per the state you live in. To check if you need any additional paperwork, click here.
Apart from these documents, you may also need to provide paperwork for the car’s model number, the year it was purchased, how many miles has it covered, condition of interior and exterior, etc.
Once you have gathered all the paperwork, the next step is to call the company to finalize the deal. However, before we head to the next step in the process, some of you might actually relate to the above-given scenario, which means, you might not have the title.
If your car is not transferred or you are missing the car owner title document, there is still hope for you. Just do this extra step of applying for a lost car title.
This might take a week or two but this is the only option left for you.
Give away the car and receive the money
The final step to sell your broken car is to let the company come to your place, let them have a look at the car, and finalize the deal. Complete the remaining paperwork for the sale and finally get your pockets filled with cash while emptying your garage for a new ride or drive.
If you are wondering, how will that scrap go away on its own, don’t worry because the junk car selling company will bring their towing services along with them.
Once the car is taken away and you have your money, don’t forget to inform the DMV and the insurance company about the sale. Apart from that, transfer the number plate of your junk vehicle to the new vehicle and remove the number plate from the sold car.
As of now, you know how you can profit from the junk car that is in your garage. But there is one last thing left. If you plan to go ahead with the idea of selling your broken car, find this list of the top five companies handy.
Top Five Companies that Buy Junk Car
With this list, we will conclude this post. We hope that this short and simple guide might help you to clear out the junk and earn some serious cash. Our purpose to share this idea with you was to ensure that you don’t miss out on this opportunity to get some extra bucks. Although it may not be enough for you to buy a brand new iPhone or anything expensive, we are sure that this petty cash will come in handy.
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