5 min read
Selling a car can be tough in today's market. Between fluctuating used car prices and dishonest hagglers, it's hard to get your car's actual value when you resell. And even the junkiest cars have value.
When it comes to selling older cars, there are options, and they vary pretty significantly. Let's take a quick tour, shall we?
How much can I expect from a private seller?
If you've got a low or mid-market car (usually around $1,000-$3,000), you've probably considered private buyers first. Facebook and Craigslist make it easy to list your car online with a few taps or clicks. So you make the ad, but oftentimes you get a bunch of people—not to mention scammers—trying to haggle you down well below your car’s value.
Even finding someone who's interested can be the start of a whole new kind of headache—bombarding messages and calls, ghosting, or changing terms.
What about trade-ins?
Maybe you're in the market for a new car anyway and want to put the trade-in money towards a car you REALLY want. A great idea (at least in theory). Though it very much depends on the condition of your car.
You're more likely to get a higher return if your car’s in "clean condition," say our Car and Driver friends. If you've got a real junker, odds are that you can't remember the last time you washed it or bothered to clean out the interior and you have to ask yourself—is it worth the effort now?
A lot of dealers also won't offer much for an older model. At Peddle, we consider older cars to be like finely aged wine. Even if they’re not classics, they have value—whether it’s just for parts or scrap metal—and we’re pros at finding the highest value for your car.
How much can I make from donating my car?
Giving your old car away to a charity auction is a great way to support a cause you care about. You won't get money in hand, but you may be able to claim a tax deduction depending on how the charity uses the vehicle and whether you itemize your deductions.
The rules are a little different from a straight sale: if you take the standard deduction, donating won't add extra tax benefit, and if you itemize, your deduction is generally tied to the price the charity gets when they sell the car, which may be lower than full market value. Check out our buds at Turbo Tax for more on how that works for your situation.
If you're leaning toward donating, here's how one old car can help make a difference, including how to pick a cause, what to expect, and how the tax deduction works.
If money in hand is what you're after, selling to Peddle is a fast, straightforward option and we always factor in fair market value so your car (or its parts) find a good home.
How much will a salvage yard pay for my car?
Junk cars typically sell for a few hundred dollars or less, since they're usually not in running condition, often needing a new engine or transmission, dealing with structural damage, or carrying accident history.Getting the most for a car in this condition usually means calling around, comparing offers, and handling pickup logistics and junk car removal isn't always included. It can take some time to land on the right deal.That's where Peddle comes in. Your car might be on its last legs, but we'll help you get top dollar for it — fast. We compare offers from junkyards, wholesale buyers, and auction houses (even your local museum, if you've got a real dinosaur on your hands), so you don't have to do the legwork yourself.
Should I sell my car online?
Ah yes, who isn't attracted to the appeal of selling your car with just a few taps/clicks? New online car buyers have been popping up left and right, and it can be daunting to select the right shop. Many refer to “instant offers,” and then once they get your contact info, it’s the classic bait-and-switch.
And let’s say after a lengthy phone call, you accept their offer. You usually have to drive a decent distance to drop it off and then wait weeks for them to process your car to receive your payment.
That’s. Not. Cool.
This is where Peddle comes in. There had to be a better way and there just wasn’t. So we created one. An actual easy way to sell your used car—with actual instant offers (based on market car value), free pickup, no tricks, no hoops, no gimmicks. You get an instant offer commitment-free—we don’t ask for your name or contact info unless you accept our offer.