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Salvage yards benefit from Cash For Clunkers

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The fate of the cash for clunkers program is in the hands of the U.S. Senate as they debate whether to give the program more money. While dealers are happy just to get the government trade-in’s off their lots, for salvage yards going green means business.

From the very beginning of the Cash For Clunkers program, salvage yards like Wilmington Auto Salvage, were salivating over the chance to get their hands on the clunkers.

Once dealers do their part to disable the engines, the cars do little more than take up space on their lot.

“Dealers are happy to sell the cars and we get cars in that we have to dispose of, but that’s the business were in,” said Dexter Davenport of Wilmington Auto Salvage.

For the salvage yards there are restrictions on what parts they can sell; no broken down engines or complete drive trains, and a time limit…all cars must be recycled within six months, which means sending them to the shredder.

“That’s something that we do anyway, just we don’t typically have a time restraint on us,” Davenport said.

If you have a clunker of your own, but it doesn’t quite meet the government guidelines to trade it in for cash, there’s still away to get money and miles out of your road warrior.

“Donate it to charity. Sometimes you can get more for that car because it’s based on the bluebook value and you’re establishing the value of that car with the IRS,” said Annie Anthony of the Cape Fear Volunteer Center.

There is some competition for the clunkers.

In order to retrieve the gas-guzzlers, salvage yards must be on an end of life vehicle list.

Some of the salvage yards on the list have made a point to contact dealers to let them know they are qualified to recycle the clunkers.

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Story summary

videoThe fate of the cash for clunkers program is in the hands of the U.S. Senate as they debate whether to give the program more money. While dealers are happy just to get the government trade-in’s off their lots, for salvage yards going green means business.

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