Is your car not running anymore? Does it require too much money for it to be repaired? Or are you simply not keen on selling it privately due to the fact that it is not safe for the road? If this is the case, it will be best for you to sell it to a local junkyard in Brisbane.
Most people find that dealing with scrapyards is an intimidating experience. They don’t know much about the day to day operations of the business. Here is what to look out for:
The Reverse Lemon
The definition of the term “asymmetrical information” has to do with making a deal with someone that knows more about what you are buying than you do. In the used car market, this law of economics is called the Market for Lemons. Lemons are cars that are defective in a way that is fundamental.
At a used car dealership, the salesperson will know all about every vehicle they are selling. This includes the history and what they had to do in order to make the vehicle ready for sale. However, you, the customer who wants to buy said vehicle, doesn’t know these things. This is where the term “asymmetrical information” comes from. You have less info on the vehicle than the salesperson does.
The same principal can be applied on the Brisbane junkyard, only in reverse. The junkyard owner will know more about how much junk cars are worth than you do. They will use this to their advantage, by trying to convince you that your automobile is worth less than it really is. This is called the reverse lemon treatment. How can you counter this?
Make a List of Your Car’s Re-usable Parts and Recyclable Materials
Bargaining with a junkyard dealer doesn’t require you to know everything about the scrap dealing business. All you need is the knowledge of what your car has that the Junkyard dealer wants. This includes the auction value, parts that can be re-sold second hand, recyclable materials such as steel, and so forth. Make a list of all these things and you will have the upper hand when negotiating.
Take Pictures of Your Vehicle
When getting a quote from a junkyard, people tend to be vague. It is therefore you get your list and relay that back to them. However, you will be severely helping your case if you can provide them with photos. Be sure to take photos of the interior of your vehicle along with photos of what is under the hood of your automobile.
If you can back that up with getting many quotes from many different junkyards than you are on the right road to getting the full value of your junk car. Choose the company that offers you the most. And when they come to your place to pay you and haul the vehicle off, don’t let them back pedal on their offer. If they try to offer you less, they are not reputable.
Meet Qld Wreckers & get the negotiated value of your scrap car today.