How do I go about junking a car?
A reader asks…
I need to junk an old 1994 model toyota corolla. It is in running condition, but i don’t think i’ll be able to sell it.. heard I might be paid for vehicle scrap, if i junk it. If so how much can I expect?
See answers below
3 Responses to How do I go about junking a car?
don’t junk it, donate car. When you donate car to charity you get a tax deduction of at least $500 and help a good cause. At Cars4Charities, you’ll find hundreds of respected charities to donate your car to.
If you want cash, use the following online service. Just fill out a form and they will give you a quote. You can just have it towed away for free and be done with it using JunkMyCar. They are a trusted site with outstanding rating with the Better Business Bureau.
If you donate it to an IRS approved charity, you’ll get a tax deduction, but ONLY if you itemize your taxes.
http://www.irs.gov/taxtopics/tc506.html
You will only get 150.00 bucks for it at the junkyard. You can sell it for more than that.