Buying junk cars is easy to do, however making a profit from buying junk cars for cash is an entirely different proposal altogether. This article was written to help the reader to learn how to buy and sell junk cars for profit.
What is a “Junk Car?”
I have bought and sold thousands of junk cars, and just to be honest about it, several of the cars I have bought, were not “junk cars” at all. The owner simply wanted to get rid of the car, so to the owner it was a junk car, however for me buying it, definitely NOT a junk car! On many occasions I have immediately sold the car for somewhere between 2-3 times what I had paid for it in mere minutes of the transaction.
Selling junk cars wholesale…
One of the reasons I have been able to buy and sell so many junk cars is because I know what to do, and you know the old saying… “Knowledge is power.” One of the keys to being in the junk car removal business is this: having a list of people, or businesses that you can call on, which, for a fair price, will buy your junk cars for sale in a minute. Over the years I have built a relationship with various people and businesses that do just that.
What else do you need to know to buy junk cars?
There are some people, which believe that you should find salvage cars for sale, and after purchasing them, go straight to the scrap yard, or recycling center. I disagree! If you want to learn how to buy and sell junk cars for profit, you had better not believe that either.
What do you do after you find cheap cars for sale?
The information in this section can help you make some real profit, if you read and do the following, after you buy a junk car:
- Cut off the Catalytic Converter… Until recent years, this was one of the greatest secrets of the most profitable things to do, after you buy wrecked cars for sale. The catalytic converter contains platinum and other expensive metals that recycling centers love to get their hands on. Leaving catalytic converters on cars is a huge mistake, because the average factory original catalytic converter is worth between $50.00 and $100.00, some of them even more!
- Take the Car Battery out from under the hood… Car batteries contain lead, which is what is known as, a non-ferrous metal that means it contains no iron. Most scrap yards will not allow you to sell your car to them with a battery in it anyway, however you can sell the car battery separately for more money, if you know where to go, these usually bring between $8.00-$15.00 apiece.
- Alternators are a good source of cash… Where I go to sell my alternators they pay me between $4.00-$10.00 each, it’s worth taking 2-3 screw or bolts off for that sort of return on your time.
- Air Conditioning Compressors bring a few bucks too… Most cars that I scrap out have the air conditioning compressor just below the alternator. So while you’re right there, you might as well take out the four screws holding it in place (most models) while you’re at it. That will add an additional $3.00-$8.00 profit for you.
- What about the wheels? I am not referring to steel wheels in this case. I am referring to “Alloy Rims,” or “Aluminum Rims” sometimes just called “Rims,” or “Custom Rims.” Those can fetch a very handsome profit for you also. A standard set of four alloy rims can usually bring around $75.00, however a set of four custom rims can bring much more, I have sold a set of four custom rims for over $200.00 before.
- Don’t forget the Radiator and Condenser..The radiator and condenser are often overlooked, because they are a bit of pain to take out, on some models. That being said, they are a nice source of profit for you, should you decide to extract them. Some radiators are made from copper, those are by far, the most valuable ones… if you know how to clean them up right. The radiator and condenser should bring you about $4.00-$20.00 depending upon whether it’s all aluminum, or aluminum and copper.
On another subject… there have been countless times, where I have seen people who bring their scrap metal in, which is called “dirty scrap.” I’ll write another article soon about “How to clean up and prep your scrap metal, before taking it to the scrap yard.”
In summary, if you total up all the low numbers it works out to be $144.00 totaling the high numbers equals $333.00. If you are good, and can strip a car down in about an hour or so that is nice return on your time.
Keep in mind not all cars have aluminum rims, and do not be dismayed if you go to sell a catalytic converter at a scrap yard, and they tell you it is an “aftermarket” one worth only about $5.00-$10.00. In any case if you read and follow these instructions you’ll understand how to buy and sell junk cars for profit.