Fair-Market Prices For Your Junk Cars
Before you fix your car, you should figure out if it's worth the cost of repairs. In many cases, it may make more sense to sell it to a company like JunkCarMasters!
Fair-Market Prices For Your Junk Cars
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Your old car has given you years of reliable driving, but those days are coming to an end. Maybe it’s already due for costly repairs. Or, you fear a trip to the mechanic is in your near future. Thus, you’re wondering whether you should keep fixing your old junker or cut your losses and sell your car for cash.
It’s impossible to tell the future and know exactly what’s in store for your old car. Instead, you can look at the basic facts of the situation and make an educated decision on whether it is best to keep fixing it or junk it for some quick cash.
How much cash will you get for your junk car? That depends on a variety of factors. For a quick answer, just use the advanced online pricing tool at JunkCarMasters. It will give you an instant, no-obligation quote and show you how much your car is really worth.
Minor car repairs can be quick and easy. Simple jobs like replacing air filters or spark plugs can take just a few minutes. If you know how to fix automobiles, you can save a fortune by rolling up your sleeves and doing it yourself.
But when it comes to the big stuff, like the engine or transmission, there’s no way around a costly visit to the shop. No matter how well you’ve taken care of your car, these major components will eventually fail. Being crucial parts, they could cost anywhere from a few hundred to a few thousand to fix.
If your car reaches the point where repairs are costing more than the car is even worth, it might be time to sell. However, that’s not always the case. The right answer will depend on your situation.
Consider, for example, a junk car that’s worth $500 and due for $1,000 in repairs. You might assume that means it’s time to sell. However, if you’re certain that the $1,000 repair will extend your car’s life by a few years—and replacing it would cost you more than $1,000—then it makes more sense to fix instead of selling.
To find out exactly what your junk car is worth, just use our online pricing tool to get an instant, guaranteed quote from our network of approved junk car buyers. That way you won’t have to “guesstimate” its fair market value.
Once again, you never know what the future holds, so you could always be in for more costly repairs in the future. Still, it is important to do the math and consider all your options.
To determine whether it’s time to sell your car or fix your car, you should tally up all the costs of repairs and maintenance you’ve paid over the last year. Then, divide that number by 12 to find out what you’ve been paying in “car payments” for your old junk car.
If this amount is higher than you would like, it might be time to search for a new car. You can shop around and see how much you’d be paying for something newer. If you’re spending more month-to-month just to keep your old car running, then it probably makes good financial sense to upgrade.
You should also ask yourself whether or not you’d rather be driving a new car. If you’re looking forward to an upgrade and have the cash for it, then why not? It’s important to consider which decision will make you the happiest.
Unfortunately, there’s no clear-cut answer as to whether you should fix your old vehicle or just junk it. However, you should consider the different factors before coming to a final decision.
Consider, for example, whether you’ll be paying more for insurance with a newer car. You might not even have collision coverage on your old junk car now, so insurance is likely to be a greater expense. Likewise, consider if dealers are offering any special incentives, like free maintenance for a fixed amount of years or miles. Regular oil changes and tune-ups can make a big financial difference.
It’s all about the choice that gives you the most peace of mind and makes the most financial sense for your future. If you do decide that the answer to “should I sell my car?” is yes, don’t hesitate to contact JunkCarMasters.
We’ll lock in a great price with FREE towing and on-the-spot payment in just 24 to 48 hours. With JunkCarMasters you’ll be able to get back out on the road in your new car as soon as possible!
That depends on what condition your car is in, how much repairs will cost and how much you’ve already spent repairing the car up to now. A handy rule of thumb is that if repairs will cost 50 percent or more of the car’s actual cash value, it may make more sense to junk it. On the other hand, that can be a simplistic guideline that doesn’t take into account a car’s potential lifespan or what it has caught up to the point of needing repairs.
It ultimately comes down to you, the owner, to calculate what repairs for the vehicle have cost up to now and decide if you’re willing to sink more money into fixing the car or sell the car, then take what you would spend repairing it and place your proceeds and savings towards the purchase of a new vehicle.
In most cases, not really. Unless the repairs required are relatively minor compared to the potential value of the car, you may be sinking money into the vehicle that you won’t get back in the sales price for the car.
Instead, you should find a buyer willing to pay for it as-is. JunkCarMasters specializes in buying vehicles with problems, so we’re happy to make an offer on your junk car — no repairs required! It takes just 90 seconds to get an offer, and our quotes always come with free, fast towing so you can get paid in less than two business days!