How to dispose of a car body
January 11, 2015 8:23 AM   Subscribe

Our 2004 Chevy Venture minivan (120,000 miles) developed major transmission issues pretty much on schedule that would cost an estimated $2000-3000 to fix. Its condition minus the transmission issue would put it at the lower end of good/upper end of fair, with about a $2,000 trade-in value. Its only strong point is that following a catastrophic engine failure a couple years ago, we put in a brand new engine that now has only 23,000 miles on it. What's the best way to get the most money when we get rid of it?

We have concluded that a slightly newer, lower mileage SUV with towing capabilities better suits our lifestyle at present and in the future (hello, horse trailer!) so we are not considering repairing and keeping it at this point. The minivan is driveable in D1/D2 but not regular drive, so it can be gotten to a dealership under its own steam. Our marginal tax bracket is 28%--I'm not sure how market value is calculated for vehicle donations.
posted by drlith to Travel & Transportation (7 answers total) 1 user marked this as a favorite
 
When our car died and we decided we didn't want to keep pouring money into repairs, we listed it as is on Craigslist. Despite the fact it wasn't running, someone bought it for a chunk of money. (It was a 95 passat, and I think we got maybe $1000 for it?)
posted by leahwrenn at 8:33 AM on January 11, 2015 [1 favorite]


When my car was totaled in an accident (and was already 11 years old) I sold it to damagedcars.com. They paid I think 4x what a local salvage yard would have given us. It was pretty easy, just a few forms and a notarization, and they brought someone to pick it up.
posted by radioamy at 9:53 AM on January 11, 2015 [1 favorite]


Best money is almost always through private sale.

A donation only makes sense financially if you would be itemizing your deductions - meaning your financial situation is such that you are better off doing that than taking the standard deduction. If even with a $2000 donation for the car you're still better off with the standard deduction then you'll get no tax benefit. If you're in that situation and just want to get rid of the thing then trade it in.
posted by shihchiun at 10:02 AM on January 11, 2015


Definitely put it up on Craigslist first. Include photos, especially of the new-ish engine. Be honest about the condition, which will help weed-out the non-serious buyers.
posted by Thorzdad at 10:47 AM on January 11, 2015


Be smart from the very beginning.

If you're going to buy a new (to you) car, you're likely going to get the best valuation from a trade-in at the dealership. They're not going to give you KBB, but the overall profit to them of selling you a car will allow them to take a bigger hit on the car than most private buyers. Do your research first, go in toward the end of the month, and be prepared to walk away. You can look at what price private sellers are putting the car you're interested in at, and then do some back of envelope math over which ends up being the better deal. The two other things I'd look for would be how much that model goes for in private sale without the transmission issues and how much that engine goes for from scrapyards.

A lot of these prices are going to be really location-dependent, and remember that as you're thinking about what the new SUV's cost would be with the trade-in versus without.
posted by klangklangston at 11:35 AM on January 11, 2015 [1 favorite]


Craigslist, list it as not running or "mechanics special". Some one will want it. That's what we did.
posted by blue_beetle at 2:24 PM on January 11, 2015


There is a reason KBB quotes a higher number for private sales than trade-ins. The dealer is going to have to turn around and sell the damaged vehicle to a wholesaler. If they offer you more money than a private sale, they are going to make up for it in the price they give you for the new vehicle. Probably more than make up for it.
posted by rudd135 at 6:13 PM on January 11, 2015 [1 favorite]


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