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The automotive aftermarket is the secondary parts market of the automotive industry, concerned with the manufacturing, remanufacturing, distribution, retailing, and installation of all vehicle parts, chemicals, equipment, and accessories, after the sale of the automobile by the original equipment manufacturer (OEM) to the consumer. The parts ...
Since 1999, the NIADA has released an annual used car industry report that details statistics such as dealer lot size, method of acquiring wholesale cars, and method of selling wholesale cars. The NIADA collects this information from a group of dealers known as Certified Master Dealers.
Other major parts such as the engine and transmission are often removed and sold, usually to auto-parts companies that will rebuild the part and resell it with a warranty, or will sell the components as-is in used condition, either with or without warranty. Other, usually very large, junkyards will rebuild and sell such parts themselves.
CarGurus shares what to know about selling your car to a dealer and how it compares with selling your car online or privately.
Some used car sellers may be willing to take a salvage title car for parts, but this complicates the process. You may struggle to sell your car to a private party, as well.
If you spend $7,000 on a car and an additional $1,000 on improvements, but you sell the car for $7,000, it's considered a capital loss, and you don't need to pay tax on the sale.
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