February 22, 2010
What Should I Do With This Car?
Dakota Danny asked:
I have a 1999 Mitsubishi Montero that is in great condition except the engine completely fell apart and it's going to cost about $2500-4000 to replace it. Instead of fixing it I purchased another vehicle but now I have no idea what to do with this Montero.
I have a 1999 Mitsubishi Montero that is in great condition except the engine completely fell apart and it's going to cost about $2500-4000 to replace it. Instead of fixing it I purchased another vehicle but now I have no idea what to do with this Montero.
Salvage yards will only give me $450 for it and it's got to be worth at least $1000 still. What should I do?
Atlanta Salvage Yards
Filed under salvage yard atlanta by .
Leave a Comment
Comments on What Should I Do With This Car?
1:40 am
Atlanta Salvage Yards
Find someone (like ARC thrift) that will haul it away and take it as a donation, then use it as a tax write off.
6:04 am
Atlanta Salvage Yards
Using it as a charitable donation is your best bet. You get full value tax credit and it helps those less fortunate. A win-win situation plus you don't have to weed out the scammers while you try to sell it.
2:39 am
Atlanta Salvage Yards
Actually has no real value. Bset price is 450- I would take it quick. The AWD sport is only worth 2500.00 in that year, That is in good running condition. Nobody will pay 1000.00 as not many people are keeping Monteros as parts cars. Get what you can.
2:11 pm
Atlanta Salvage Yards
sell good parts on ebay. sell rest for scrap.
9:28 pm
Atlanta Salvage Yards
You have received some good advice. If you need the cash just sell it. If you don't then you can certainly get a tax credit equal to the book value of the car for donating it.
Option #3- List the vehicle in the local paper and/or on the local swap shop for $800.00 or best offer as a great parts vehicle. Someone may buy it to repair it themselves. If you get $600.00 you have done great. Cash in hand is better than cash in a bush, sorry, Obama.
If the vehicle does not sell you can revert back to plan 1 or 2. You may or may not need the tax deduction so that might be the last of the options. If you have a high tax liability it may be the first choice.
I like options and you know you can probably get the $450.00 at any time. The price of junk(scrap) usually goes up the first week of March(government purchase time) and it may be worth more if it is not in you way.