Like most assets, vehicles age as the years pass by whether or not you like it. Sooner or later, it’s said that you’ll reach a point where you’ll either sell it, give it away, or let it sit in the backyard forever. The latter, however, doesn’t have to be the fate your car should face.
Fortunately, you can convert your old ride into cash by pulling a few tricks up your sleeve. If you have an automobile that you’re no longer using, why not sell it for cash? It’s way better to sell your vehicle than to let it age in your backyard unused.
That said, below are some ways in which you can make money with your old vehicle. Continue reading to learn more.
1. Sell Its Parts
Dismantling a car can be complicated. But it’s said that it’s worth it because you can sell car parts at great prices. There’s even an entire industry of car pickers and breakers who buy used parts and refurbish them for resale these days.
To dismantle the car, you should ideally look for a mechanic to help you. Once complete, you can then advertise the car parts online or sell them to car breakers. Mind you, a car has almost 30,000 moving parts – you might even make some decent money from selling some still usable parts!
How? What you need to do is sell those parts that are most valuable. Here’s a list of the most valuable car parts you can sell: engine, battery, radiator, starter, carburettor, springs, tires and rims, and catalytic converter.
Nonetheless, the ease with which you can sell some of these parts largely depends on the make or build of your car. It’s said that people prefer some car models over others. Yet if you’re patient, you’ll eventually be able to sell most parts regardless of your vehicle’s make.
For the remainder parts, perhaps you can consider sending them to car wreckers or car pickers. Don’t miss this opportunity to make extra cash off of almost every component of your auto.
2. Sell Scrap For Cash
Once you’ve removed all the parts from the car and sold what you can sell, you’re effectively left with a scrap car.
At this point, finding out your scrap car’s value should be your next priority. You don’t want to be paid less than your scrap is worth. Therefore, the best people to deal with are trusted scrapyards or scrap dealers. They usually pay scrap based on the weight of the car.
It’s recommended that you work with trustworthy dealers. Ideally, they should come to collect the old vehicle from you. If they don’t, you should rightfully suspect foul play and consider looking for a different scrapyard to work with.
Also, note that scrap metal rarely sells for much; hence why you ideally need to sell its valuable parts before sending it to a scrapyard.
3. Use Your Old Car For Advertising
If you’re no longer using your old car, you can partner up with a company of your choice to wrap your car with advertising stickers. Some business organizations out there are willing to pay you in order for them to use your ageing car instead of buying a new one for their promotional methods. Don’t hesitate to negotiate deals with establishments to make sure that you get your money’s worth with your old ride.
4. Help People Move
If you have an old truck or van, use it to help people move their belongings to and from different property locations. It’s a lucrative business venture for it’s believed that there’s always a high demand for moving services. People will need to move either into a new house, apartment, or city at some point. Therefore, you can use your vehicle to get extra money from offering moving services as a side hustle.
5. Use Your Old Car For Delivery Services
Delivery services are said to be in high demand these days. You don’t need to look far and wide to see how the delivery industry has developed over the years. It’s not an uncommon sight to see delivery trucks, vans, or motorbikes running across city streets, delivering goods to people.
Plus, think about the booming food delivery industry. Business analysts agree that there’ll always be a demand for food delivery services. Food is an indispensable necessity in order for humans to survive.
You may ask, why is this a worthwhile consideration? Delivery has one thing going for it: convenience and efficiency, and people will pay for those two things.
Now, depending on your area of residence, there may be some regulatory requirements that you may need to comply with. But it’s not a big problem if you’re working independently. You can also partner up with corporations and conduct delivery services on their behalf.
6. Renting Out Your Old Automobile Can Make You Money
In the event that your car is still in good working order and has its insurance all sorted out, you may consider it up for rental. You can send your vehicle to a car rental agency or simply advertise it by yourself. The latter is tricky because you’ll need to look for clients on your own, which can be time-consuming. Additionally, with older cars, it may be more difficult to find patrons.
Therefore, rental agencies are great because they have a wide customer base. It saves you the time and money you’d otherwise have to invest if you’re doing it yourself. All you need to do is find one that’s got favourable commission structures.
7. Sell Your Car To A Dealer
There are used automobile dealers to whom you can sell your vehicle, even if all that’s left of it is scrap. Some dealers don’t mind if the car is damaged but you have to mention it if there are any. These damages may affect the car’s value. So, it’s always a good step to take – to be transparent when advertising the car.
8. Sell Your Car To An Individual Buyer
As a final resort, you may sell your car to an individual buyer. The benefit of doing this is that you cut middleman charges. Yet it also comes with the risks of being scammed for there are a lot of individuals out there who pose as legitimate customers looking for a great auto deal yet turn out as fraudsters.
It may be a good idea to have an evaluator look at your car to determine the lowest offer you’re willing to accept. Remember, you’ll be negotiating with the potential buyers on your own. Henceforth, you need to know what the car is worth so that you can bargain for the best price possible.
Conclusion
If you have an old vehicle at home that you’re not using entirely or not as frequently, consider taking the abovementioned ideas into consideration and make extra money for yourself. Besides, the longer you keep your car, the less you’ll be able to sell it for in the future. Rather sell it now while you can and make some quick buck out of it right?
