Never offer to Donate your car unless you are doing it for moral purposes. Before 2005 The IRS was writing out deductions like nothing. Until they realize that they where losing Millions in revenue. Nowadays, to receive auto salvage yards on a vehicle donation the value must exceed, but not including, $5,000. What does this mean? If you donate your car and they give you $5001.00, then your deduction is only $1.00. You are batter off taking it to a salvage yard and getting $50 bucks for it.

Reusing the metal – This applies to cars that are entirely useless and can not be fixed. If a car is extremely damaged and does not run at all, chances are that you will be paid according to its weight. This is because the company buying it will have no use for it except reusing the metal. In such cases, the car will be stripped down and the exterior metal may be renewed and used in new cars. Metal may also be melted down and used from scratch. Since this costs lesser than buying new metal, small automotive companies tend to buy old junk cars.

Do not forget to analyze the value your car. Use a proper car guide to decide the right determinants for getting the right value. The main determinant of valuing a car is its age. If it is below 20 years old, you can use the free online versions of vehicle purchase guide. Otherwise, you may consider by investing your time in evaluating its exterior and interior condition, mechanical condition and its main characteristics.

Recycling is one of my favorites. I only hold my scrap for a day and then sell it to the automobile junk yards near me the next day. I collect appliances, bed frames, ceiling fans, metal futons,etc.. I pull the copper wire out when it is easy to do because its worth more. I will cover that in another article. Just for scrap mixed metal you get about $6.00 for a 100 pounds. Does not sound like much but it is easy to get a 100 pounds of scrap. For example; a refrigerator, washer, microwave, futon, hot water heater, and five bikes weigh about 800 pounds. That is $48.00 tax free!

When Arnie saves up enough money to get his own car, he notices a broken down 1958 Plymouth Fury in the wrecking yard. The car needs major work, but Arnie doesn’t care. He has to have it. Despite the advice of Dennis and the disapproval of his parents, Arnie buys this car and takes a job at a shop, where he can work on the car.

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.