How To Recycle Your Old Car
Another aspect is LTV. The Loan to Value ratio is a depiction of how much you owe vs. your car's current value. Lenders understand that being a depreciating asset, a car's LTV will be higher than 100%. But a very old car will have an exponentially high LTV value. This means there are higher chances of an up-side down loan. So, lenders stay away from cars older than 7 years.
used cars It is time for reality check: unless you begin to do something about your junk car now, you'll never get this job going. Instead, why not sell your car and make some money? That's right, even junk cars can fetch some cash, money that can come in handy elsewhere.
Cars that have been in accidents, particularly serious ones, are never quite the same again. Their alignment might be off, making them reluctant to travel in a straight line. This also causes the tires to wear unevenly. Body panels may not fit correctly, and paint work may not match exactly from one panel to the other.
If you can't sell your parts through the normal venues, you're going to have to be creative. If you've got parts that are worth some money, and in excellent condition, try putting a note on community bulletin boards in stores, the library, or wherever you can put one up. Online bulletin boards for your area are also good places to list car parts for sale. If you post your name, number, city, and your make and model year, you might connect with a mechanic who's been searching for your exact item. If your parts are the only ones around, you can make some good money.
Keep it for an extra vehicle for those times when you may need it. But now you'll need to pay for the extra insurance coverage along with maintenance, licenses and fees every year. These expenses are now "extra," because now you have to also pay for your new vehicle at the same time.
Search for local auto salvage yards. The Internet is a great place to find junk yards in your area. Enter "auto salvage yards near me yards" followed by the name of your city or town and check the results. If you're using Google, you'll also see a map returned that will pinpoint the exact locations of nearby yards. Pick up the phone and call each yard and explain what you own and what is wrong with your car. You may be asked about recent repairs and stand out features such as a customized grille, newer wheels and what type of audio system is present.
It is also good to know a bit about your car, and you can gain a lot by knowing your Mustang and what makes it tick. It makes it much easier to get a good part from a breaker's yard and also to fit it yourself. However, many people prefer to find their parts online, mainly because it is easier to find the part you are looking for your year and model of car, and it also a lot less work!