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Cars for Cash

Whether you're about to splash out on a new pair of wheels, of you're just looking to ease some cash-flow problems in the immediate term, selling your car for quick, hassle-free money is now easier than ever before thanks to a wealth of easy-to-use resources online.

Outright sales

The first thing to say is that selling for parts should only be considered as a last resort as you're going to fetch far more if you sell the whole thing in one pop.

We recommend seeking out a private valuation before you go advertising or signing up for any online sale facilitators. Unless you're absolutely desperate for the money you should be wary of taking the time to research exactly how much you can get.

Selling directly to a private buyer is an option, but we generally recommend going through a third party which will ensure everything goes off without a hitch (yes, you'll have to give them a cut of the spoils, but the internet is awash with tales of people regretting doing business with people they met on Craigslist).

You can also sell them to companies which actually specalise in purchasing second-hand motors, such as We Buy Any Car.

The downside there is that you will probably have to accept a fee well below book value. You could also find that a price quote you're given online or over the phone isn't honoured when their inspectors actually check the car in person.

That's one upshot of going private: individual buyers in the market for a car they can use themselves are less pernickity about minor bumps and bruises on the body-work, particularly compared to those looking for sell-on value.

Here are a few such companies that are well worth a look:




Selling for parts

In today's market, there's a lot of demand for stylish and streamlined cars which are economically efficient and not too damaging on the ozone layer. If you have an older hatchback or a car that needs a lot of work doing before it's roadworthy, it's probably going to be difficult to find a buyer.

If that applies to you, you may wish to consider selling off the parts individually. This type of sale involves more legwork on your part because you will need to speak to different scrappers and do some research on what constitutes a fair and reasonable price.

There are basically two ways to go about this. You can either advertise your parts on eBay and Gumtree and the like - this will give you the chance to find niche buyers looking for particular components to complete their dream car (who will, obviously, be prepared to fork out a higher fee).

The other option is to find a local middle-man company that buys parts and then sells them on. The advantage here is that you can possibly get someone willing to disassemble the car for you - as that's a job you probably won't want to be doing yourself.

Obviously, once you've sold off the parts that are actually useful, you'll be left with a hunk of metal. Make sure you abide by scrapping and recycling regulations before you get it grind it into dust - that means ensuring whoever you hire to do it is licensed, and you notify the DVLA.

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