When you have an extra car sitting in the driveway that you’re not using, it’s just a waste of space – and money. Maybe you moved in with your girlfriend or boyfriend and don’t need the extra car. It could be that you got a great deal on buying a car outright, or perhaps you’re just ready to give up the car and start biking it to work every day.
Whatever the reason, you have a car that isn’t being used, so why not sell it and get some cash? There are several ways to get cash for your car regardless of whether your car is in good shape or if it’s been sitting on your lawn for a few years. There are various methods you can employ.
Sell It Privately
There is always the old fashioned way of taking your car to a dealer or selling it privately via an online or newspaper ad. A major pro is that you are in complete control of the situation as to who you sell to and for how much. The con is that finding a reliable buyer that will be interested may not be easy. There may be issues with financing if the car is new enough.
If the car just isn’t running or you don’t want to go through the hassle of selling it to someone or to a company, you can sell junk cars for cash. Junking a car for cash isn’t going to get a lot of money, but at least you know you can get it sold. The benefit is that they will definitely buy your car, no matter what condition it is in. Some places will even come to you, which is a definite benefit if your car isn’t in running condition. They will handle all the paperwork and even tow it back to the place of business. Junkyards are not the only places to sell your car directly for cash however. There are other companies that will buy your car, no matter what condition it is in.
If your car is in good shape and you own it, but you’re struggling to get rid of it, there is the option of a title loan. This is basically a short term loan that you promise to pay back with interest. The company will take the title and give it back to you once the loan is complete. According to CNN.com, if you are unable to make the required payments on the loan, the company does have the right to repossess your car. In fact, title loans often have high interest rates as well.
There is no sense in keeping an old car around if you’re not going to use it. Functioning cars can get some decent money, and even junk cars can be sold. If you’re looking for a little easy cash, look no further than that old car sitting in the driveway. It could be your ticket to a financial windfall.