Chapters:

Objectives

Which Cars are Best Bets?

Is Design Important?

How to Become an Expert

How Much to Restore

Market Avenues

Buying a Collector Car

On-Going Maintenance and Records

Are Cars Going to Become Obsolete?

My 96 Grand Cherokee in otherwise good condition stopped running last week
and the shop hasn’t figured out how to restart it – some complicated
electrical problem – so would like to know how to sell it for junk and how
much to expect for it. The “sold by owner” blue book value is $4500.
Thanks.

Answer:

I question how complicated the issue is, and maybe the garage is jumping the gun a little bit. If there was a major melt down in the wiring harness, I could see you looking at scrapping the car, but if it’s something a little less severe like a blown fusible link, or bad solenoid/starter it’s worth fixing. I don’t know anything about your repair shop, so I don’t want to say anything negative, you will have to make the call on their competency.

If you are comfortable with the shops diagnosis and it’s going to cost you over $1,000 to fix then you have a few options…

1. List the car as a “Mechanic’s Special” in your local paper/car trader.

2. Put the car on Ebay as a “Mechanic’s Special”

3. Sell it to a junkyard in your area as a whole vehicle.

4. Part it out and sell pieces on Ebay or Locally.

The problem I see with trying to sell it as parts is the time involved with removing the parts, and I don’t see the demand for those parts being very high. If the vehicle was a classic car or truck, selling it in pieces on Ebay or even locally would be worth your time.

Selling the car as a mechanic’s special would be the best way in my opinion to get the most money from the vehicle. A competent shade-tree mechanic could diagnose or replace the wiring harness and have a good running vehicle for a small investment. I would ask $2500 – $3000 for the Jeep if you sell it this way. Selling it this way on Ebay does not make a lot of sense, unless you find a local buyer, as shipping a non-running vehicle is more expensive.

If you want the least hassle, sell it to a local junkyard and let them haul it from the garage. I do not know what price they would be willing to pay, but you can check www.car-part.com for an idea of what major parts are selling for. (engine, transmission, axles, interior, hood, rear hatch, and doors) By checking these prices, you can get a good idea of what kind of money the junkyard would wring out of the vehicle. Take 75% of that value and that would be a good starting point for negotiation.

Good Luck,

Kevin

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That bit of advice – by itself – was worth five stars. But there’s other good stuff in the book too.

Hi there,

I ran across your site in a google search because I’m trying to get rid of my junk 1993 BMW 325i. I don’t want it and the insurance costs are high-well higher than what I want to pay. Anyway, the car has some minor rust setting in and some body damage and steering problems. After surveying my car at kbb.com (kelly’s blue book), it got a “fair” rating, although I think it’s pretty poor.

My car is something that I wouldn’t want to buy but I would like to get rid of it and get some sort of money for it. I’m wondering the best way to go about it, really. How can I say let’s say a “junk car”? Do you know of any resources I can use that refer to buying beat up or well-used cars? Please let me know if you have any advice to offer me about this inquiry. I could certainly use the assistance. Thanks for your time.

-Ken

Answer:

You can check out www.classicjunkyard.com which is a site I run also. You can list the car for parts, or sell the whole thing. I would also check out Ebay and consider listing it there. I would advertise it locally as a “bodymans special” or mechanics special and see what kind of interest it brings. I would think that you will get a younger kid who would be happy to have something to wrench on. It’s a popular model, and would be a cool custom with the addition of a body kit and a nice set of wheels.

Good Luck,

Kevin

Before you go to sell your vehicle, you should research the value and see what kind of price you should be looking for. Check http://www.nadaguides.com and http://www.edmunds.com for retail or private party pricing. You should also research trade-in pricing, so you know what you would likely be offered if you traded in the car.

The next step is to evaluate your car’s condition. Getting a car detailed can add 100′s of dollars to the value and help sell it faster. Also make sure you have all service records in one place, so you can show the potential buyer. Even if you do not have all of the records, a written summary of the work you have put into the car helps.

Once you are happy with your car’s appearance, it’s time to advertise. Online advertising is a hit or miss proposition. Stay away from small sites, which get little traffic, it’s a waste of your time and money. A large site which I like Cars.com is the best place to advertise.

You can also advertise in local papers, and classified magazines. I have also found that a simple ad placed on a grocery store bulletin board works well for certain cars. If it’s under $5,000, it will attract interest at these bulletin boards.

Good Luck,

Kevin

More Information on Selling Your Car