Should I Sell, Scrap, or Trade My Car In?
You have options to sell a junk car, but which choice is best for you? Let’s check out the possibilities.
- If you are short on time, you should call a ‘cash for cars’ service or a junk car removal provider. You might be giving up a portion of the proceeds of the sale but you’ll be able to sell your car quickly.
- If you’re planning on purchasing another vehicle from a dealership, you should look into trading it in at the dealer. Your trade-in value might be lower than you’d like, however, you’ll save the taxes on the value of your trade-in. Plus, you could be eligible for additional incentives from the manufacturer.
- If your newer car is damaged or it’s a vehicle the dealership could potentially wholesale or retail, you could sell it to the dealership. Unlike a trade-in, there aren’t any added tax benefits for selling your vehicle to the dealer.
- If you have time and patience to advertise your car, you may be able to command a higher price by selling your car privately. This isn’t a bad place to start and if you don’t get any takers you can still call a ‘cash for cars’ service to haul it away.
How Much Do You Get for Scrapping a Car?
Should you choose to pursue the quick sale and sell your car to a scrap yard, how do you know if the price you get is fair? You’ll want to find out ahead of time how much you can get for scrapping a car in Canada.
The problem is that scrap car values are regional. It depends on the demand for scrap cars in your city and province. Scrap yards are only interested in the raw materials your car contains, whether it’s the steel, aluminum, catalytic converters, or other valuable metals. They pay by weight.
Nailing down an exact value ahead of time isn’t what you should expect. Rather, determine how much your car weighs altogether, then call local scrap yards to get their current rate per pound on complete cars.
For most vehicles in Canada, you can expect between $100 and $600 for a scrap car.
How to Scrap a Car for the Most Money
It’s possible to get paid more for your car than the typical per-pound rate if major components are still in good working order. If the engine still runs, the transmission shifts, and the car drives under its own power, you might be able to collect more cash for your scrap or junk car.
To get the best offers for your scrap car, you’ll want to look for a scrap yard that sells used parts. Then, make sure your car works as well as possible—charge the battery, inflate the tires, etc.
You may need to negotiate with the scrap yard for a higher offer on your car, pointing out the parts that boost its value. It might only be a couple of hundred dollars extra, so don’t invest money into your car with the intent to increase its value