Salvage Car Sales is a Booming Business – Learn How to Cash In
Who would’ve thought there come a time that used cars would be all the rage?
The aftermarket boom has reached unequaled levels in 2021 and shows no signs of stopping down.
You dabbled in fixer-uppers here and there, sold a couple of parts to friends. You may have a few salvage car sales under your belt too. What was once a weekend hobby is now a full-fledged business.
Now is a better time than start up your own salvage yard and turn your weekend diversion into a profitable business.
Starting Your Salvage Car Sales Business
Know the Laws
Before diving into junk car sales full-time, make sure you know what you legally can or can’t do with your business. While federal law stands nationwide, states will often have more specific laws regarding the resale of salvage cars.
Check the Department of Transportation website for your particular state to see what laws will apply to you.
What cars do you often see around your area? Chances are, your location has a significant impact on the car purchases made by locals. Single inner-city drivers tend to drive compact, easy-to-park cars. Suburban families will probably use mini-vans and 8-seaters to get around.
Validate your findings with online car sales marketplaces. Visit junkyards new you. Is there a model selling significantly more than others? Chances are there’s a huge market for it.
Match the Market With Your Interests
After your initial salvage car sales research, you’ll start to notice some crossover between what your salvage parts interests and what your local market wants.
If you’re obsessed with everything Honda, start working on models that are popular in your market.
If you love restoring classics to their former glory, start positioning yourself as the authority on refurbishments.
Or maybe you enjoy doing bodywork. Stick to salvaging cars with little internal damage and hone in on what you like about fixing cars.
Cash in on Individual Parts
Sometimes a salvage automobile is more work than it’s worth.
If there’s no way to make a car road-ready, then selling individual parts can be equally profitable.
Rare models can fetch a good profit for their parts, due to the lack of components available on the market. Specific components for common models can also be resold.
Your market research will help you decide if it’s worth salvaging the vehicle or not. If turning a quick profit is a priority, junkyards will pay top dollar for in-demand models. Visit website, Cash Cars Buyer to learn more about this process, or to have your junk car valuated.
Before every purchase always request vehicle history from the seller.
A full in-person inspection is an absolute must. If you cannot physically do so, recruit a neutral third party to do so on your behalf.
Your Next Step
Ready to turn your passion into profit? Now is better than never to get started on your salvage car sales business.
For all things auto, repair, and resell, dive into the rest of our blog. We have curated a wealth of resources to answer any of your automotive needs.