How To Junk Your Car And Buy Another

If your car is barely running, and you're paying more for repairs than you would for a new car payment, it's definitely past time to get rid of your ride. These are some of the steps you will go through to get a new car:

Make Sure It's Junk

A junk car is one that won't run without a significant mechanical update. If your car is on its last legs, it may still have some retail value; check with a dealer before you decide junking is the only option. A car dealer might offer you some money to trade in your vehicle for a much newer model. Then, it's a matter of comparing what the car dealer offers versus what a junk car yard would offer for it.

Find Your Buyer

When you search for companies that buy junk cars, you might find many in your area. The value you're likely to get for the vehicle is the salvage value of the vehicle, which is dependent on the make and model; auto salvage buyers are looking at the quality and quantity of metal they will get by buying the vehicle. It pays to consult at least 2 options when you're shopping for a junk car buyer, although the prices offered will likely be similar.

Check on Financing Options

If you don't have the cash to buy a new car outright, financing options will certainly be a part of the equation. Check for dealers that will offer you an affordable monthly payment with little to no credit required; that may be a big step in narrowing down the dealers you want to work with.

Shop around to see what interest rates you will get from each dealer. See if they will offer you a discount for financing with them; the car dealer does make some extra money off of your interest payments, so try to get the best deal you can.

Prioritize Mechanical Soundness

If you're looking for a used car, or even if you're buying new, you probably want to prioritize mechanical soundness in your next vehicle. After dealing with a junker for so long, don't put yourself in the position of having to make significant repairs on your new vehicle too. Consult an auto repair shop to get a condition report before buying any used car. For new cars, check the expected lifespan of the car and the service intervals to see whether the car was built to last.

Contact a dealership like Fox Valley Iron Metal & Auto Salvage Inc for more information and assistance.