Should I Repair or Replace My Beat Up Car?
Crucial questions come to mind when deciding if it makes sense to repair a car or not. One wonders if the value of the vehicle increases with repairs vs. how much the car can be sold for as-is. It's even worth considering how important it is for you to have a working car today.
Everyone's situation is different, and that's why we want to uncover what's most important to you and your needs to see if repairing that old clunker makes more sense than getting rid of it.
To repair or replace
It's shocking finding out the estimated costs to repair a car after an accident or much-needed maintenance. Costs to fix a damaged vehicle can add up quickly, even if it's wear and tear on the vehicle. Not all repairs are worth it. If your repairs cost more than the value of your car, you may want to consider replacing it. First, figure out how much your car is worth: Kelly Blue Book is a well-known resource. Also, look into local sales to see where your car value stands based on your current location.
Doing the math
If you have to sink $4,000 into a car that is worth $8,000, you need to determine if those repairs net you an additional $4,000 in value or if the car value will remain close to the same to get it running. Ask yourself if the amount you're about to sink into your old car is an amount you can use to get a newer or better running vehicle. Lastly, car-buying doesn't always happen overnight, and thousands of dollars to buy a car don't appear out of thin air. You have to decide how many weeks you can be without transportation in car-buying limbo and if the new vehicle is going to be worth the wait.
As you have a better idea of how much your car is worth, you can decide if selling the car or repairing it makes the most sense.
Selling your car when it's not worth repairing
Selling your vehicle to any of the following places can net you more than repairing your car:
Car junkyards or scrapyards
Car dealership
Private sale
Online car buyer
Car junkyards often offer cash payment for scrap metal and parts that are valued in your vehicle. Pricing depends heavily on the make, model, and year of the car. This can be the best offer if you want a quick, no-hassle sale of your vehicle. Finding a junk car removal company that offers free towing is best, so you don't have to worry about any upfront costs.
The dealer
Car dealerships sometimes accept damaged vehicles for a trade-in on a new car. If you're worried about not having a new vehicle right away, this can be an option. Make sure to negotiate the price of your junk car separately from your new vehicle and get the amount in writing. If you're happy with the value of your trade-in, ask if they'll honor that even without the purchase of a new vehicle if you want to keep shopping.
Private sale
Another car selling process is selling to an individual or making a private sale. This often takes longer since the individuals have to do the research themselves and make sure the purchase they are making fits their needs. Scheduling time for them to see the car and deciding who will pay for towing if the vehicle does not run are things to consider in this option.
Online Car Buyer
Selling your car through an online car buyer can be fast, easy, but sometimes impersonal. Be careful of scams and only exchange money if you're comfortable. Don't accept any odd forms of payments other than cash or a cashier's check that you can verify passes through a teller's hand at the time of sale, meaning it's best to meet at a bank.
If you are in the Phoenix Metro area and want a no-hassle cash offer on an old, wrecked, unwanted, salvage or burned car, SUV, van or truck, give us a call at I Buy Junk Cars. 480-771-8290.