Learn How to Make the Most Money Off of a Junk Car

Do you have a junked vehicle that no longer serves a purpose? Perhaps you’ve been working on a “fixer-upper”, but financial hardships have prevented you from being able to finish it. Or maybe you inherited an old pickup truck decades ago that is starting to become more of a potted planter in the backyard woods. Regardless of your junk car situation, there is no need to let it continue going to waste. A junked car, truck, van, boat, trailer, camper, tractor, bulldozer, forklift, golf cart, and any other motorized commodity is worth money. That is, if you find the right type of buyer.

You can double your advantage by making a profit and getting rid of space-consuming junk, all at once! However, it is important to know your options so that you can make the best decision for your junk car. There are two primary options for selling a junk vehicle. The option you choose will depend on your personal preference and available resources, and render a different profit level. Continue reading to learn your options for making the most money from your junk commodity.

Sell it For Parts

If you want to make the highest level of profit possible for your junk car, you can choose to sell it part for part. However, you will need a true car mechanic that has the tools and knowledge to disassemble your vehicle, piece by piece, without jeopardizing their value or performance level. They will need to start by inspecting the vehicle to determine which parts are still functional and which are junked. Then they must take it apart while preserving each piece.

The downside is that you likely have to pay a mechanic to do this, which takes away from your total profit. Furthermore, you would have to take the time to post each part for sale, as well as, manage each individual transaction yourself. This is time-consuming and somewhat inconvenient. For others, this is a fun and exciting project that is totally possible to accomplish. It all depends on your personal preference, resources, and availability.

Sell it as a Whole

The most common way to make a profit from a junk vehicle is to sell it as a whole. Although you make less than selling it part for part, it is the preferred method for a reason. Not only is this much easier and more convenient, it saves a lot of time while still rendering a decent profit. It is important to find the right buyer if you want to make as much as you can from selling your entire junk car. Find a junk car buyer who has the technologies capable of assessing the true value of your vehicle. Electronic platform scales are something you want to look for in a junk car buyer. These buyers usually pay cash on the spot, and will even pick up your car for free. Just be sure to ask which amenities they offer, how much they are willing to pay you for your vehicle, and how soon they can do business.

First Time Car-Buying Tips

Buying your first car is an exciting step – but it can also be overwhelming and stressful and is never filled with as much uncertainty as it is the first time. If you take the time to do a little research before visiting the dealerships, your first car-buying experience can be a lot less stressful and a lot more fun! Being a good first-time buyer won’t be easy, but if it’s worth doing – and it is – it’s worth doing well. We’ve come up with some tips to help with the process.

Establish a realistic budget. This figure is generally based on what you can afford per month. Look at your cost of living – mortgage or rent payments, food, insurance, social activities. Once those are calculated, the remainder could be spent on a car payment, fuel, car insurance and maintenance.

Visit your credit union to get pre-approved for financing. Before you fall in love with a car you may not be able to afford, go to your local credit union. Their lenders can get you pre-approved for financing at a great rate that fits your lifestyle and budget. You’ll also know exactly how much you can spend, which will give you added negotiating power at the dealership.

Do your research. Informed shoppers are smart shoppers, so gather some information before you start shopping. Resources like Consumer Reports, Edmunds and Kelley Blue Book offer helpful vehicle reviews and pricing information that can help you determine a fair price for the car you want.

Take a test drive. Nothing is more important in your decision process than how you feel behind the wheel. Take at least half an hour on your test drive, while trying stop-and-go, freeway merging and freeway speeds. If the sales person does not have time then take the time to find another dealership.

Bring a wingman or woman to the dealership. It’s always best to work with a partner. They can help you decide what car to buy and what to pay.

Negotiate your price. Price negotiation is probably the most overwhelming part of the car-buying process, but it is important for you to stick to your strategy. If you’ve done your research, you’ll have a good idea whether the dealer’s offer is fair. Keep in mind that the dealer’s first price is rarely their best price, so don’t be afraid to reject the initial offer. If the dealer can’t meet your target price, walk away. Buying a car is a big step and the transaction has to be right for you.

Buyer beware. Before signing the final contract, ask the dealer to explain each item. Dealers have been known to include extra charges for items like “fabric protection,” “paint sealant” or “rust proofing” that may not be necessary. If there are charges you’re not comfortable with, don’t be afraid to point them out.

First-time buyers should also be wary of financing deals that sound too good to be true. Offers like “0% dealer financing” may sound good, but as a first-time buyer you may not qualify for these attractive specials.

Most importantly, enjoy the process. We know the tips referenced above can make buying a car seem daunting, but with low financing rates, and hundred of cars and trucks to choose from, your options are amazing (especially in the first-time buyer category). So take your time as you move through the process and you’ll be astounded with the outcome.

With a little advanced planning, a solid negotiating strategy and appropriate financing, buying your first car can be a fun and a stress-free experience!

Find the Best Deals on Used Auto Parts

If your car is screaming for a certain part to be replaced, whether it is a faulty air-compressor, a worn out tire or perhaps a broken headlight, you know that it is time to shell out some of your savings and still toil for that elusive part that fits. But now you can relax, huge bills on auto-part replacements is a thing of the past. Nowadays a smart buyer can get the best quality car parts at the lowest prices and that too while sitting at home relaxing on a sofa.

Wondering how all this is possible? You probably haven’t heard of online auto-part sellers. These are dedicated websites that specialize in selling quality auto parts online. But that is not all they do. Apart from direct sales, they offer comprehensive services like choice of a variety of brands from various warehouses, customer support, free shipping, technical advice and the list goes on.

There is tremendous competition in the used auto-part industry and major players keep offering a bouquet of services to increase customer loyalty and satisfaction. Internet now is a place for some of the best deals on used auto parts and to be precise, a wide variety of auto parts is available at the click of a button.

A half hour of search on the internet is more than enough to locate the best deal on the car part you require and have it delivered at your doorstep. But before you do that, keep the following information in mind:

  • Buy only from an established seller
  • Buy the correct part by selecting the correct make, model and year
  • Ascertain the condition of the selected part before making the payment (You can even call the seller before purchasing)
  • Price is not the only consideration; make sure you are comparing products on quality and years of usage

With a bit of effort (i.e. switching your computer on), you can locate the best deals on the auto parts you require. So go ahead and finalize the deal online and treat your car with finest quality OEM auto parts at lowest prices delivered right to your doorstep.

James Rodham

Quality Auto Parts

Tips For First Time Car Buyers to Get Online Auto Loans

What Are First Time Buyer Auto Loan Programs?

Whether you are buying your first new or used car or are planning to apply for online auto loans for the first time, understanding how automobile dealerships and lenders see you, and what you can do to improve that image, can help you to be prepared in advance of applying for online auto loans for the first time, so that you will be in a better position to get approved for an car loan with a lower interest rate and better terms. After all, you want your monthly auto loan payment to be the lowest it can possibly be, right?

Who might apply for first time buyer car loans? Some people that first time auto loan programs can help could be:

* Teenagers, personally buying their first car in their own name will need to apply for first time buyer auto loans as they have no credit history behind them

* College students living away from home for the first time frequently have not had time to build a credit history before leaving for school and so will often need to apply for first time buyer car loan programs

* People that have always paid cash for a vehicles in the past, but now want to upgrade to a newer one or are forced to take out automobile loan because they do not have the cash funds to buy a vehicle at present

* Immigrants that have moved here from other countries, and thus have left their credit histories behind, may need to apply for first time auto loan programs in order to start building a credit history

Not All First Time Auto Loan Borrowers are in the Same Boat

The first thing to realize is that not all first time borrowers are in the same boat. There can be a lot of differing factors that can either work in your favor, or against you when you are applying for online auto financing. For instance:

* Are you employed full or part time? If you are not employed, do you have an income? Not being employed is not necessarily a game stopper, but if you plan to have your name on the title of the car and on the auto finance, you will need to demonstrate that you have either a job, regular income, or other funds that you will be paying your monthly auto loan payment from. Of course, the higher that your income is, the easier it will be to qualify for lower interest rate first time buyer auto loan programs.

* Do you have no credit history, because you are just starting out your financial life, or do you have a bad credit history/low credit score because you have had a few credit slip-ups in the past? Dealerships will certainly work with you in either case. However, if you have a low credit score, depending on how bad your credit history is, the dealership may be inclined to offer you a higher rate of interest and a lower credit limit on first time buyer auto loans as opposed to someone that has not made any credit mistakes in their financial life yet.

Note, see our recent article entitled “How to Get Approved for an Auto Loan with Bad Credit if you have Low Income” to learn how to get unwanted items removed from your credit report to bring up your credit score.

* Will you have any funds available to make a down payment on your auto loan? Whether you are applying for first time buyer auto loans, or if you have had auto loans in the past and just need another one now, what every auto dealership or lender is going to take into consideration when assessing your application and the items on this list is; how much of a risk are they taking in making an auto loan to you and what if anything can they get you to do to mitigate that risk. Making a down payment is one thing that you can do to mitigate the dealership’s risk, making them more likely to quickly approve your automobile loan and to give you a more reasonable interest rate. In addition, a down payment will obviously bring down what you owe on the vehicle and so your monthly payments will be lower and more affordable. Down payments are usually not required to get online auto loans, but they can be very helpful when negotiating with a dealership. Even a small down payment can make a difference in how the dealership sees you.

* Is there someone that you know that would be willing to cosign for you on your auto loan? Cosigners are not required in order to get online auto loans, even if you have bad credit or no credit history at all. However, the use of a cosigner can save you a lot of money and make the application process go much more quickly and smoothly. A cosigner is someone that puts their name on your loan application along with yours, guaranteeing that the loan will be repaid. The limit and maximum amount of your automotive loan will be determined by the cosigner’s income and credit standing, not yours. So, if you choose to have a cosigner, make sure to pick one that has a high credit score. With a cosigner, there is really no need to look for first time buyer auto loans because you will be treated by the dealership as though the higher credit score and income were yours.

* What is the ratio of your monthly housing payment as compared to your income? A little known fact is that auto dealerships and lenders pay attention to this number. For instance, if you make $1,000 per month income, and your monthly housing cost is $300, then your housing cost takes 30% of your income. Anything over 40% will send up a red flag to the dealership/lender and they may need convincing that you can make your monthly payments on time. Take this into consideration when you complete your auto finance application.

Taking the above items into consideration, you should be able to get a clearer picture of how automotive dealerships and automotive loan lenders see you, and what you can do to control that image, at least to some extent. Once you have submitted your application, the die has been cast and you will see what the dealership offers you at that point.