Are you planning on junking your car? If so, you’ve come to the right place!
At Fred’s Auto Removal we’ve junked many cars over the years from owners in Portland Oregon and the surrounding areas.
Although many people think that junking a car is as simple as calling a company like ours, or a wrecking yard to pick your car up, the reality is that there’s more to it and you can get the most money possible for your junk car when you follow these tips.
Tip 1 – Remove Everything From The Vehicle
This tip is important because, what most people don’t realize is that cars, trucks, or vans are sometimes like second or third homes and we have a tendency to leave or store things in our vehicles over time.
To avoid losing money, or many of your personal possessions that are saved in your vehicle, you should take the time to look through every square inch of your car, in the glove box, underneath the seats, and in the trunk for any of your personal belongings which may have been left or stored in your car or truck over the years.
Checking your vehicle for personal belongings is also important because, a junkyard or automotive recycler should not be thought of as a scrap yard or dumpster for getting rid of your junk so before you get paid cash for your car, you should take the time to make sure that your vehicle is in decent condition because you are conducting a business transaction and the buyer expects to get a vehicle without a lot of junk stored in it.
Tip 2 – Make Sure You Have The Title Ready
This tip is important because, many people will realize that the title to their vehicle is missing when it comes time to sell it so before you contact a company like Fred’s Auto Removal, or another automotive recycle company, to get paid cash for your vehicle, you should make sure that it’s ready to go when the person or company that you plan on selling your vehicle to come’s by to pick it up.
Tip 3 – Find Out What Valuable Parts Your Vehicle Has
After taking time to remove all the junk from your vehicle, and getting your cars title in order, the next thing that you need to do is to find out what are the valuable components in your vehicle.
Some of the valuable components inside your vehicle may include a newer stereo system, speakers, GPS, electronic devices, newer tires, rims, and anything else which can be stripped off your vehicle and resold.
The reason why you want to assess what’s valuable in your vehicle is because the company may strip those valuables or recyclables from your vehicle anyway so why shouldn’t you be the person to be paid what those parts or accessories are really worth.
Tip 3 – Remove Your License Plates
Yes, you should also remove the license plates from your vehicles because doing so will protect your best interests especially if someone were to purchase the vehicle after you’ve sold it to a junk yard or recycler. Removing the license plates from the vehicle will guarantee that you will be held liability free if the car, truck, or van that you owned is involved in an accident or an injury after you have sold your vehicle.
Tip 4 – Use Your Gas Before Junking Your Car
Last of all, but most important you should use up all of the gas in your vehicle because you paid for it and that gas will ultimately be siphoned from your vehicle anyway along with other fluids once it’s sold so you might as well use it up.
Tip 5 – What Is the Value of Your Junk Vehicle?
As with any donation, your primary goal may be to deduct your donation come tax time. To claim your vehicle, you have to itemize it on the Schedule A tax form 1040. Before you fill out the deduction, you should also know the fair market value of your vehicle by researching its value on the Kelley Blue Book website or reviewing the value of your vehicle on other car websites or forums online.
You must be aware that if your purpose is to claim your vehicle as a deduction, you won’t be able to get the full value of your junk car as deduction because you may only get a small portion of it’s value based on the marginal tax rate for the state that you currently live in.
Let’s say that your junk car is worth more than $500, or even worth more than $5,000, in this case, you’ll need to fill out Section A of IRS Form 8283.
Once you know what your vehicle is worth, depending upon the state that you’re living and you may be required to transfer the title above your junk car over to the charity that you plan on donating to and you may also need to remove the old license plates from your vehicle and the registration sticker too.
Is Your Car Dead? Sell It To Fred!
For a free quote contact Fred’s Auto Removal Today by calling us at (503) 810-3061 or click here!