Cars are not like any other items that you can sell or trade easily. Most car owners know the hassles involved in buying a car but don't know how challenging it is to sell one. Selling a vehicle involves looking for the right buyer, the right medium, and the right price. In most instances, all three critical factors do not usually align.
Knowing the common problems you're likely to face when selling a junk car or a preowned vehicle will help you to prepare better for the task ahead. This article walks you through some of the common issues you might face while trying to sell your car for cash.
3 Problems Faced While Selling A Car
Car Dealers No Longer Act as Brokers
Not too long ago, used or junk car owners could approach a car dealer to list their cars for sale with them. The idea was simple, sellers leveraged the dealer's market and exposure to drive sales for their vehicles in exchange for a commission. The business arrangement worked until most car dealers stopped acting as brokers - now, most junk car owners sell to dealers at a low price. The dealers, in turn, repair the vehicles, add some accessories to them, and list them at higher prices.
The change in the business relationship has caused many car owners to seek alternatives for selling their junk cars. The most viable option, for now, is selling junk cars online or to junkyards.
Selling at the Wrong Time
The value of your used or junk car in the market depends on an array of factors. Time and economic tides play a huge role in how fast and how much you can sell your vehicle. For example, the electronic chip shortage caused a bottleneck within the car manufacturing industry during the pandemic. This bottleneck meant a shortage of new cars, thus forcing more people to buy used cars. If you had sold your junk car during the pandemic, you could easily have pocketed $500 or more due to the rise in demand for used vehicles.
Besides electronic chip shortage, consumer behavior also affects the final price and how fast you sell your car. Preowned or junk car sellers are more likely to command a reasonable price for their vehicles between March and August. Other times may not be as favorable because demand for cars during the holidays reduces.
Another important factor influencing how fast you sell your junk car and its value is the demand for car parts. The higher the demand for car parts like catalytic converters, vehicle engines, transmissions, etc., the better your chances of selling at a higher price. For instance, selling a 2005 Honda Pilot can fetch you between $500 and $5,612, depending on a range of factors. Also, a 2011 Hyundai Elentra can bring you more money, especially because of the high demand for its electronic parts and accessories.
Finding the Right Buyer
As a car seller, you are looking to make the most money from your car sale. On the other hand, the buyer wants to save as much money by offering low cash for your car. This game between buyers and sellers can extend the time taken to sell your junk car. While there are ways to increase the value of your car, some buyers are just not willing to offer good cash for junk cars.
Finding the right buyer can take time, and that is why many people end up selling to scrap car buyers or junkyards around them. Junkyards are places that buy junk cars, and they often offer reasonable prices for junk or damaged cars. If you are looking to sell your car but find it hard to sell, check out the 3 Best Sites to Sell Your Car Based on Value, Convenience, and Cash.
Frequently Asked Questions About Selling Your Car
How many miles does an average car last before it's sent to the junkyard?
Most cars end up in the junkyard at around the 200,000-mile range. The University of Michigan, in an annual study of average used car ages, average scrap ages, and others, reported 11 years to be the average scrap point.
How do you sell a car with a problem?
You can sell it as a junk car to a junkyard or places that buy junk cars. Junk car buyers often offer a good cash amount for vehicles with problems.
How do you avoid getting scammed when selling a car?
Vehicle purchase scams have become common in recent years. If you're selling your junk car for cash, make sure to sell to a trusted junkyard that pays instant cash. Also, avoid junk car buyers that offer vouchers or checks as means of payment.
How do I get rid of junk cars in Philadelphia?
Many junkyards in Philadelphia buy scrap cars and junk cars. Go online and search for "cash for cars near me" or "cash for junk cars near me" to get started. You can also contact us at Cashforcars.io to sell your junk cars quickly!
What car parts are in high demand?
The demand for car accessories is very high with increasing human population and accident rates. The most sought-after car parts and accessories in the world are; wheels, tires, catalytic converters, side view mirrors, speedometers, power steering pump/motor, AC compressor, and shock absorbers.