What to do with an old, junky car when no one will buy it and it will be worthless as a trade-in?

Question

I desperately need a new car, but I can't just trash my old one. Its a 1992 Mercury Grand Marquis, and it has too many problems to have any value as a trade in. The car runs, however it needs alot of work. No one locally is interested in buying it. Any suggestions of how I can get some money out of this old car?

Answer 1

Sell it to a local scrap yard for parts.

They will buy it off you and usually come to collect it too.

Answer 2

If you don't need the trade in value of the car, which may be no more than $500, surely you know of a family or friend who are without vehicle or need a second one to accomodate a family with two working.

For people without a car and low income, a used car from you, is a new car to them.

There are a lot of families who need transportation, and teens looking for a first car that they or the family cannot afford. Even if they have to pay for a few repairs, it is most often a lot less than the cost of a car.

Once a family gave us a rough looking van. Yes we had to put over a $1,000 in it the next couple of years, paying for repairs as we could. It lasted 5 years, and was still running when it left here.

You can even ask them to consider not selling it, when it is no longer needed, but to pass it on.

Answer 3

You'll get salvage value as a trade-in at the very least -- enough to bypass a down payment if you wish.

Or just junk it. Most junkyards will give $100 - $150 for anything that still moves under its own power.

The rules on charitable donations of vehicles have changed significantly. The only tax deduction you'll get is whatever the charity sold the car for and that won't be any more than you could have sold it for. For that reason, most charities aren't interested in old clunkers any more -- the paperwork and IRS reporting and documentation costs are too high to make it worth their while to accept them. And unless you're already itemizing deductions, you won't get a usable tax write-off.

Answer 4

Some second hand stores take cars that run off your hands and you can take a tax write off or check with some high schools, some class programs will do repairs on your car for the learning experience and all you pay is for the parts, labor is what is so expensive. Or better yet approach a local car dealership and explain your hardship, some people have very big hearts and they have the wonderful opportunity to give back to their community by giving to you-nothing to lose right all they can do is say no, don't give up keep calling until you find that big heart and a yes!

Answer 5

Many consumers will trade - in a vehicle thats totally worthless the benefit is the day you take delivery of your new car the dealer will simply switch the plates and having done all the transfers saving you a lot of running around.
Yes most dealers will say they dont want it, but will take it in order to sell you a car.
If you need some help buying your next car go to my website http://www.usedcartips.org/ and navigate to the 10 steps buying a car, its free info with no strings attached...good luck

Answer 6

At tax time....some car dealers will have a "blow out" tax sale....where they will take your used car in on trade and give you $1000-$2000 for it no matter what the condition of the car is. Watch for local TV ads, as well, check with some dealers. Good luck.....

Answer 7

its worthless if it was in mint condition .. car dealers have a mark up some can mark up as high as 5000 to 8000 dollars this is before they even count the profit and other cost so they have a lot to play with ..Ok say you came in and their cost of a car is 12,400 dollars.. they have and 8000 dollar margin ..you offer them your car as trade in .they don't really care cause its meaningless to them anyway ,it might cost them an hour wage to an employee that will haul it to the wrecking yard . Ok..they tell you they are giving you 5000 off your car for trade in. that leave a balance of 7000.. that leaves them with a great markup ..and plenty profit then they add tax and title and tags .. then sell you warranty and other options and they make a fortune off of you and then you really get nothing for your car you are giving it to them to dispose of much like you do when you have a bad frig..what are you going to do ask for trade in value on a frig of course not so yes use it as trade in value what have you got to loose..

Answer 8

it really is extremely a dramatic reality! regrettably (and larger probably than no longer), she will be able to no longer stick with her be conscious. She's probable basically embarrassed - a ordinary hormone triggered symptom of being a teen. do not take this personally - maximum young children (rather women folk) are embarrassed of each little thing their father and mom want. i comprehend it really is a attempting time for you both, yet she'll advance out of it plenty in the previous than you imagine - supply it a three hundred and sixty 5 days or 2.

Answer 9

As u see a couple of guys say u can get tax deduction of 500$ on your new car its seems a nice option other wise keep it in your garage for old days and who knows u can sell that as a vintage car and make more bucks.
Have a nice time.

Answer 10

Take it to a car wrecker, he should give you a few dollars for it for spare parts, if i lived close by i would buy it off you but its no worth the trip it would cost more than the car is worth, i live in NewZealand, cars like this are good for demolition Darby's.

Answer 11

You could always donate it, they will give you at least $500 tax deduction if you do that. Otherwise you can try selling it to a junk yard but that generally only will get you about $100-$250. Also you can try cars.com to sell it, make sure you post pictures of it on there to up the chances.