1. Sell it to Private Party: Selling your car to a private local buyer is typically the option that has the best financial outcome. With a private motor vehicle sale you can expect to receive a figure slightly under the current Kelly Blue Book price. The advantage to this arrangement is that you typically receive a top price for the car compared to the other options. The drawbacks are associated with the length of time before you find a buyer, which is an unknown and the hassles of advertising, coordinating meetings and negotiating a final price with potential buyers.
2. Gift it to someone: Perhaps an friend or family member needs basic transportation?
3. Vehicle donation: Cars can be donated to charity in most states. The market value is tax deductible on your income taxes. With the US tax code constantly changing and depending on your overall tax outlook for that year, you may not actually get the total deductible benefit. We recommend consulting a tax expert before proceeding.
4. Automobile dealer trade-in: If you wish to buy a vehicle from a dealer, they may have an incentive to buy your old car as part of the arrangement. The bottom line in these cases is that they usually pay less then a private sale. Another common tactic is for the dealership to make a fair market-based offer for your car, watch to insure that the new vehicle or financing is not raised to insure an adequate profit.
5. Scrapping the car: Junk car facilities with car shredders. This option is best when the vehicle is damaged and less interesting to a potential buyers. Most major areas have "cash car buyer" outfits that will include towing of the vehicle as an extra perk to scrapping your car.
6. Find a buyer in need of parts: You may find a car owner or auto parts dealer that is actively searching for key parts for the same type of vehicle. You might sell them the whole vehicle at a good price if they can utilize the parts.
7. Repair and retain the vehicle: If you can retain the car, truck or van and realize that you are unable to get a decent value in the market, spending the money to repair and "spruce up" the car may be an option. Many auto painting shops can paint your car affordably and if your mechanic offers good pricing to fix the remaining problems, you may be happier retaining the car.
Tom Maddox http://www.cash4carsakron.com