Are you tired of looking at that old, beaten-down vehicle in your yard? What about spending thousands of dollars each year on repairs, only for your hunk-of-junk to keep breaking down on the highway?
Sure, you love your car. But part of loving something is knowing when to let go. It’s time to steel your nerves and prepare for your car’s last voyage.
Even if junking your car isn’t your first choice, it might be the best option out there. Keep reading to find out why!
1. Your Junk Car Is Worth Money
Depending on the condition of your vehicle and its make and model, your junk car is likely worth somewhere between $100 or $500 according to estimates.
Though that might not sound like much for a car, think of it like this: If your broken-down car is sitting in your driveway, it’s just taking up space without providing any value to your life.
That’s free money sitting in your driveway.
You can also scrap your car and sell its parts to private sellers. Sometimes this is more profitable than selling your vehicle as-is. This is particularly true if your car isn’t manufactured anymore.
Also, selling your car to a dealership can cut down on your costs if you’re looking to buy a new car. Most dealerships will give you a little extra if you agree to use the funds toward one of the cars for sale on their lot.
2. Keeping Your Vehicle Could Lead To Problems
While it might night seem like that junkyard car is hurting anyone sitting on your lawn, there’s a good chance that your neighbors don’t feel the same way.
Most homeowners’ associations have regulations that forbid residents from leaving trash in their yards. Unfortunately, your junk car would likely qualify.
By refusing to move it, you could find yourself hit with ridiculous fees.
Aside from annoying your neighbors, keeping a broken vehicle in your driveway or on your lawn could actively harm your property value by destroying the grass or driveway. That means that you’re losing money by keeping your junk car.
3. The Cost of Repairs Will Only Go Up
According to one report, Americans would rather do taxes than shop for a new car. While shopping for a new car can be a tedious and stressful experience at times, doing so may save you money.
While the average vehicle owner spends a few hundred dollars per year on upkeep and repairs, that cost can skyrocket if your vehicle continuously has problems. What’s worse, those costs will only increase and your vehicle’s mileage continues climbing.
You may save money by purchasing a new vehicle.
Junking Your Car Just Makes Sense
Ultimately, junking your car can be a great move. You’ll stay in the good graces of your local HOA and you can make some money to put toward a new vehicle that won’t break down every 100 miles.
Before you start the junking process, make sure to look up your vehicle’s value so you can get a fair estimate.
For more tips on appraising your car’s value, keeping up with repairs, or shopping for the latest vehicles, make sure to check back with our auto blog!