Cash for Cars
Cash for Cars is a program that allows a car owner to sell their vehicle rather than trading it in on a newer vehicle. There are private entities that pay cash for your car, no matter the age or condition of the car. This allows you to sell your car quickly and without making the necessary repairs to attract a buyer or to use as a trade in. Cash for cars dealers usually buy old cars for the purpose of obtaining parts rather than selling them on a used car lot.
Most cash for cars programs work online or through a brick and mortar entity. To sell your car, provide the model, make and year it was built and any other information required to the cash for cars people and they will evaluate your vehicle and come back with an offer. There is a time limit the offer is valid, usually 7 to 10 business days. That will give you some pondering time before you make a decision. You are under no obligation to accept the offer, but if you decide to take the offer, the transaction will take place quickly. If you decide not to accept the offer, it will expire at the end of the offer period. If you decide later to sell your car, you will have to reapply for another evaluation.
If your car is still under financing, some car for cash entities will pay off your loan up to the amount of its value. If there is a plus, you will be paid the difference.
There are some cash for cars entities that will accept cars of a certain make and model and age. When considering selling your car to cash for cars entity, there are a few things to be aware of before signing on the dotted line. Most cars headed to the auto scrap heap may come with a disposal fee. Find out who will be responsible for that fee, and if it is you, find out what that fee is. Also, be aware some cash for car entities will charge an application or document processing fee. Be aware of that upfront instead of being taken by surprise at the completion of the transaction.