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The junk car market has collapsed over the last 18 months. The vast majority of junk cars have always been sold for their weight in scrap steel. Unfortunately, the price of recycled steel has declined by more than half since the U.S., Europe, China, and India halted new building and manufacturing in the global recession.
This means that selling a junk car for more than $50 - $100 has gotten a lot more difficult. Junk car companies, who used to offer a flat fee and free tow-away service, are offering less, adding towing fees, and you need to get a bit more creative to sell a junk car for the most cash possible.
In order to maximize what you can get for your old or junk car, you first need to offer it to the most companies possible. Try to sell your junk car to steel recyclers, used parts dealers, used car lots, and anyone else who might be interested.
One man's junk is another man's castle, and you might want to consider selling what you view as a junk car to people in your area looking for a car bargain. Few people can fix up a car on their own these days, but your junk car could be reliable transportation for someone with mechanical talent and a need for affordable transportation.
Sell a junk car to a junk yard. Sell a junk car to one of the thousands of dealers who just lost their new car lines (GM and Chrysler). Sell your junk car to an artist who makes mobiles. In short, open your mind about who you can sell your car to.
The market is wide open. In order to get the most cash for your car, you need to get creative these days.