Often, old cars are viewed as a burden and left to gather dust in a garage for years before ultimately being sent to the scrapheap. This is usually because people do not know what to do with the car, and/or they do not have the money, time, or inclination to fix it up. However, before you decide to give up on it, it is important to realize that even the oldest and most broken cars have value, if you can think outside the box. Whether you are able to do the work yourself or want to pass it on to someone else, there are options to consider.
If you cannot bring yourself to throw your car onto the scrapheap and/or you want to benefit from its value, here are four ways to make the most of an old car.
- Bring it back to life
While it is true that cars lose value as they age, there are some (often over 30 years old) that will begin to increase in value again. If your car is particularly old, it may be worth restoring it (inside and outside) to its original functionality and appearance and getting it back on the road. When the car has been restored, it may have increased in value and you may even make a profit on your investment. You should research the average sale price for the type and age of the car to work out if now is the right time to sell. You can then decide whether you want to sell the restored car or keep hold of it. Find out which are the most valuable classic cars here.
Alternatively, you might want to gift the car to your child or another young relative. Young people just starting out in their driving career usually have an older car as their first vehicle. Rather than splashing out on a new car for your children, investing in your old one could be a better financial decision, especially as it’s likely to be put through a few knocks and scrapes as they get used to driving.
- Sell it on
If you do not have the skills or time to restore the car, you might want to sell it on to someone who does. They may be able to give it the care and attention it needs to have a new lease of life, and you can generate some cash from the sale. Even if the car is not in good enough condition to be repaired, someone else may be able to break the car down for parts, depending on the age of the car. There are probably lots of other cars of a similar age that could make use of these parts, and your car could pass on vital lifelines for other vehicles.
- Donate it to a good cause
What better way to use an old car than to help those in need? You may not be aware that many charities and organizations will gladly accept car donations. Whether the car is running or not, the charity will sell the car on and put the proceeds towards their work. In some cases, the organization may use the car as a teaching aid for young adults considering a career in car maintenance and repair. In addition to doing a good deed and relieving yourself of the hassle of selling the car, the IRS allows you to claim a tax deduction on the car, so it is a win-win solution.
- Transform it into art
This idea may be a little more unusual, but there is a growing trend for using old cars in interior design. Restaurants, schools, theaters, offices, and a range of other commercial settings could turn the frame of the car and its parts into a striking and unique piece of art or a piece of furniture. The car could even be adapted to become a safe “play” car for children in the local park.
If you have the space and it would suit your style, you could even transform the car into a piece of furniture or art for your home. Cars can look amazing when repainted in bold colors and patterns and have been used as bedframes, wardrobes, as well as home office spaces. You could sell or donate the car to someone who needs it for a project, dismantle it and use the parts as home decor accessories, or decorate it yourself and keep it at home. Click here for 33 ways to use an old car in an interior design project.