Best options to monetize junker cars?

[janegold]

My ILs have 2 older (90s, early 2000s) cars that are sitting undriven in their driveway. I want to help get rid of them with minimal effort. I've tried to ask MIL various questions about their conditions that sites like CARVANA want to know and it's like pulling teeth; she doesn't know anything and I don't have a ton of time to investigate. I think at least one doesn't run (maybe just needs a new battery?).  At this point, I'm happy to just treat them as scrap, and ILs would be happy (and could use) any money they could get for them.  This may be local-specific, but anyone have any good suggestions on ways to monetize the cars regardless of condition?  

[quesyrah]

CarMax pays pretty well. In June we sold them a 2009 Honda Odyssey. It had a dented front bumper and we also had just gotten an estimate for nearly $6,000 in repairs it needed.

Carmax paid us $3,500

Also my local NPR station takes car donations. Could be a nice tax deduction if not necessarily cash in hand.

[ohgillian]

Sept 26, 2021 15:50:58 GMT -5 quesyrah said:

CarMax pays pretty well. In June we sold them a 2009 Honda Odyssey. It had a dented front bumper and we also had just gotten an estimate for nearly $6,000 in repairs it needed.

Carmax paid us $3,500

Also my local NPR station takes car donations. Could be a nice tax deduction if not necessarily cash in hand.

Less than 15% of people are itemizing at the federal level right now, though, due to the high standard deduction. So this may not apply to them. (But, it might! I just wanted to mention that.)

[janegold]

Sept 27, 2021 12:26:23 GMT -5 ohgillian said:

Sept 26, 2021 15:50:58 GMT -5 quesyrah said:

CarMax pays pretty well. In June we sold them a 2009 Honda Odyssey. It had a dented front bumper and we also had just gotten an estimate for nearly $6,000 in repairs it needed.

Carmax paid us $3,500

Also my local NPR station takes car donations. Could be a nice tax deduction if not necessarily cash in hand.

Less than 15% of people are itemizing at the federal level right now, though, due to the high standard deduction. So this may not apply to them. (But, it might! I just wanted to mention that.)

Good point, ohgillian.  They've taken the standard deduction the last two tax years I've done their taxes.  

Thanks quesyrah, I'll take a look at CarMax and see if they need less info than the other car buyers I've looked at.

[ellipses84]

I would look at the Kelly Bluebook Value for if it’s running vs. not and put them on FB marketplace for the lowest price for their condition. With an old car, there’s probably not a huge difference in how much they will get and someone good with cars may get a steal, but you’ll be rid of the car and can make a little money. Just be transparent with what you know or don’t know in the add. If there’s a big difference in values and you thing one that isn’t running could be easily (like a new battery) gave it towed to a mechanic for an estimate. If you sign up or have AAA you can get it towed for free. If they can’t get it running for cheap, they may know a place that will buy it. If all that fails, donate it. Then they won’t have to pay registration/ insurance for a car they don’t drive.

[fryjack2]

janegold what are the make and models of the cars? I am always on the hunt for a couple older specific cars for myself

[janegold]

Oct 2, 2021 13:32:16 GMT -5 fryjack2 said:

janegold what are the make and models of the cars? I am always on the hunt for a couple older specific cars for myself

Hahaha, can I interest you in a '98 Mazda Miata or an '03 Toyota RAV-4???

lol.

[orangello]

Oct 5, 2021 12:57:35 GMT -5 janegold said:

Oct 2, 2021 13:32:16 GMT -5 fryjack2 said:

janegold what are the make and models of the cars? I am always on the hunt for a couple older specific cars for myself

Hahaha, can I interest you in a '98 Mazda Miata or an '03 Toyota RAV-4???

lol.

Seriously, that Miata may have some value. People collect them; we had a ‘98 that we sold several years ago and got a decent amount of $ for it.

[fryjack2]

Oct 5, 2021 12:57:35 GMT -5 janegold said:

Oct 2, 2021 13:32:16 GMT -5 fryjack2 said:

janegold what are the make and models of the cars? I am always on the hunt for a couple older specific cars for myself

Hahaha, can I interest you in a '98 Mazda Miata or an '03 Toyota RAV-4???

lol.

Nope.  But thank you!  

[janegold]

Oct 5, 2021 18:07:42 GMT -5 orangello said:

Oct 5, 2021 12:57:35 GMT -5 janegold said:

Hahaha, can I interest you in a '98 Mazda Miata or an '03 Toyota RAV-4???

lol.

Seriously, that Miata may have some value. People collect them; we had a ‘98 that we sold several years ago and got a decent amount of $ for it.

Good to know! Maybe I'll encourage my MIL to invest a bit more time in trying to see if she can identify what kind of work it needs (more time than the one 30 second phone call she placed to one garage, that is).

[fryjack2]

Oct 5, 2021 21:14:55 GMT -5 janegold said:

Oct 5, 2021 18:07:42 GMT -5 orangello said:

Seriously, that Miata may have some value. People collect them; we had a ‘98 that we sold several years ago and got a decent amount of $ for it.

Good to know! Maybe I'll encourage my MIL to invest a bit more time in trying to see if she can identify what kind of work it needs (more time than the one 30 second phone call she placed to one garage, that is).

She may not even need too do any of the leg work.  If she posts it as is or with a description of what it needs, someone may want to fix it on their own.

[RockNVoll]

Agree regarding the Miata. Per DH, people love to race those things.