Are you looking to buy a new car but want to get rid of your old BMW first so you have more money for your new purchase? Don’t be so quick to sell your car for the Kelley Blue Book value, especially if a dealer wants to reduce it by a few thousand, because your BMW has a problem or two. Sometimes the individual parts of a car can get more value than the car itself, especially if the car doesn’t run anymore. Here are several ideas of what to do with your old BMW auto parts components.
You Could Sell to Wholesalers or Resellers
Wholesale businesses and resellers make their business in moving working auto parts from the people who no longer need them to the people who do. If your BMW is more than a few years old or is no longer made, the value of the car’s components will go up as a result. This is because it’s likely harder to find these parts, since BMW tends to focus more on its newer models.
If your car doesn’t run, that doesn’t necessarily mean that the parts in it are a lost cause. Let a representative of a wholesaler or reseller take a look at what you’ve got that’s salvageable. If you can’t get to the seller, have a trusted mechanic take apart the car and let you know what you can take pictures of to offer to online sellers.
You Could Sell to Junkyards
Junkyards probably won’t offer as much as a reliable wholesale or reselling business, but they may be more convenient for you to get to. They’re also likely to be less particular about the condition of your pieces. If your time is more valuable to you than the money you could earn by going the reseller route, take the car to the nearest junkyard and let them have a look under its hood.
Always get an estimate before you agree to sell the car or its parts to the junkyard; if it’s too little, it could be worthwhile to try another approach instead.
You Could Recycle
If no one wants to offer you a fair value for your used BMW parts, do the ecologically responsible thing and recycle them. A part doesn’t have to actually function in order for you to make some money off of it, so recycling is an option, even if you do sell your working parts elsewhere. Chances are that if a junkyard wants to buy your broken parts, they’re going to recycle them for cash as well, so you may as well be the one to make the maximum profit on the pieces.
The steel alone on a part may prove valuable if you look into scrap metal recyclers. Recyclers might also be willing to pay for the plastic and aluminum parts on the car. With a little research, you can pocket some cash, even on broken-down cars.
You Could Fix the Car
Do you want to increase the resale value of the whole car, without taking it apart for individual components to sell? If your BMW is in need of a replacement part or two, you could spend a little money on replacing those broken or worn-down parts to increase your car’s overall resale value. You’ll have more potential buyers when you have a functioning car to sell. There’s a chance you won’t want to get rid of the old car, too, once you realize it won’t cost that much just to fix it up.
Shop around for inexpensive replacements at sources such as:
• Wholesale stores. Buy a unit and sell the excess parts. Plus, some wholesalers sell individual units and still pass the savings on to you.
• Resellers. Buy new or refurbished parts from businesses that offer warranties.
• Junkyards. See if the local junkyard has a part you need at a lower cost.
• Online auctions. Search for hard-to-find parts and bid to score the best deals.
• Aftermarket. Purchase parts made by third-party manufacturers.
When shopping for aftermarket or used parts, it’s wise to exercise caution when it comes to the seller’s reliability. It’s best to look for guarantees, as well as positive reviews, whenever possible.
Image provided by Ben Sutherland from Flickr’s Creative Commons
About the Author: Pat McGinnis is a contributing writer and retired auto mechanic. He’s presently working on a book about the history of luxury vehicles.