Cash for Cars is a Tricky Payment
Junk car removal companies have different forms of payment. Some companies pay with checks, whereas other companies just offer tax write offs. Yet other companies pay cash for cars. Most people prefer receiving cash for cars; they do not have to spend time to go to the bank or to the check cashing place to cash the check. Cash is an instant form or payment and is the preferred payment.
Cash for cars is a tricky payment. Although it is the preferred payment form, car sellers have to be wary whom they are selling their junk vehicle to. Remember, when dealing with cash exchange, there is no record of the transaction. Hence, if you are dealing with a company that pays cash when they buy your junk vehicle, be sure to receive some sort of confirmation for the sale. That is, make sure you ask for a receipt from the junk car removal company. It is important to have a record of the transaction.
The junk car removal business is extremely competitive nowadays. The price of scrap metal is at an all time high, so car buyers are determined to get a hold of as many junk cars as possible. This goes for both legit and fraudulent junk car removers. Therefore, when you are junking you vehicle, you should also make sure that the company that you are dealing with is legit; make sure that the company is licensed.
A red flag should be raised if the company is paying cash for junk cars because, as mentioned, paying cash eliminates a paper trail. This is not to say, though, that companies that pay cash for junk cars are not legit. A company can be one hundred percent legit and still pay cash. Just be sure that when the tow truck comes to tow away your vehicle that the company name is on the truck as well as the company contact information and the IVC number. These indicate that the junk car removal service is licensed and legit.
