A junk car sitting on your property can be many things, an eyesore and waste of space in the best case and an environmental hazard in the worst. There are many ways you can deal with an old car you’re no longer using, and many people are unaware that you can make money with junk cars!
There are creative ways to turn a clunker into cash, from selling it to a scrapyard or selling off valuable components to donating or renting it out.
This blog will look at the 10 best ways to make money with junk cars in 2023.
10 Best Ways to Make Money With Junk Cars in 2023
1. Sell The Car As a Whole to a Scrap Yard
One of the most common and straightforward ways to make money with your junk car is to sell it to a scrapyard or scrap car company. They will evaluate the make, model, age and condition and give you an estimate based on market rates of how much they think your old car is worth.
The advantages are clear: You get cold, hard cash for your car, and they will come to your property and tow the vehicle, so it’s a win-win situation.
When researching online, check the websites and customer reviews to understand the company’s services and reputation better. After all, you want to ensure you’re dealing with an honest company, not someone just trying to rip you off. Most scrap car companies offer free estimates, so use that and get at least three quotes to ensure you’re getting quoted fair market rates.
2. Sell Parts Separately
If you have the tools and experience to take your old car apart, you can consider separately selling any salvageable parts in good condition. Mechanics, auto enthusiasts and do-it-yourselfers are potential buyers for these parts. You can use online platforms to research the value of each component and list them for sale to maximize your earnings.
Valuable parts are transmissions, fuel pumps, catalytic converters, starters or alternators, and add-ons such as navigation and stereo systems or accessories.
Also Read: How to Sell a Car for Scrap?
Depending on the parts and car, you could get more money out of it than selling the whole car. However, you must remember that you must be able to dismantle the vehicle safely and will have leftovers that you must dispose of environmentally friendly.
3. Sell the Car to a Private Buyer
You can use many online platforms to advertise your old junk car. Just take some pictures, write a good description of the vehicle and its condition, and you’re good to go. If you need some help them figure out the value of your car, you can check other listings on used car websites or local classifieds to get an idea of how much your scrap car is worth.
The main downside of this option is that you have to deal with people who may not even be interested in buying the car, and you might have to do a fair bit of research to determine a reasonable price.
4. Scrap the Car for Metal
Many junk cars contain some valuable precious metals like platinum, palladium or gold, which can fetch a premium. The catalytic converter mainly contains these metals, so you can make some nice money from them. Generally, if your car has a catalytic converter, it will have these metals.
When trying to figure out who might buy these metals, a quick Google search will provide you with a list of scrap metal dealers. Many will offer free estimates, so you can call a few of them and get a good idea of your metals’ worth.
However, you must find a way to safely extract these metals from your old junk car, which can be challenging if you don’t have the tools or expertise.
5. Donate to Charity
Many charitable organizations accept old junk cars as donations. Depending on the condition of your car, they might sell it to generate funds for their cause or recycle it to support their programs.
While you don’t get cash for it, reputable charitable organizations will give you a tax receipt that you can try to claim on your next tax return, and you know that you’ve supported a noble cause.
6. Rent Out the Car for Events or Films
This is an unusual way, but if your old junk car is a rare or old model (and in movable condition), you might be able to rent it out to film and photography production companies to be used as a prop for photo shoots or movies.
Before doing so, however, you have to ensure that your car is safe to move, has no loose parts, and isn’t leaking any fluids.
7. Turn it Into Art
One of the most creative ways to turn your car into money is to repurpose it into art. You can use grilles, hubcaps, rims, wheels and much more to create pieces of art that are unique and original. There are collectors of fantastic art out there that value these pieces.
8. Use the Car for Parts or a Project
Depending on the state of your car, you can make a DIY project out of it or its parts. Get creative, use parts for decoration, or use your car as a planter. If it’s in good shape still, use it to hang out, the possibilities are almost endless.
9. Participate in Car Recycling Programs
Some cities and organizations run car recycling programs that offer cash or other incentives for turning in junk cars to be responsibly recycled. Some programs provide free pickups to help get old, useless junk off properties.
10. Fix and Resell
If you have the right tools and mechanical skills, you can try to fix your car and resell it. Sometimes it doesn’t take much to transform an old eyesore into a drivable and marketable vehicle. If you have a talent for this, you can even buy junk cars at a low price, fix them, and resell them for a profit.
Your old junk car doesn’t have to be a burden or an eyesore. With a bit of creativity and effort, you can turn it into a valuable source of income.
Explore the options available to you to see which best fits your situation.
Contact Scrap Car Removal Ontario today at (833) 659-4141 or fill out our convenient online form today to get the best price for your scrap vehicle, and we will stand by that price when we come to pick it up, no questions asked.