I never would have expected that I'd have an ample selection of diverse businesses looking to junk my car. After a bit of research, I learned that while the price of scrap steel has more than halved in the last few years, the demand for cheap cars and used auto parts has soared. Junk car prices have generally declined, but I can still get $50 to $100, free tow away, and/or a small federal tax deduction.

Knowing this, when I went to junk my car, I had a couple of questions. Should I junk my car with a charity? The general consensus after a few phone calls was that I'd get free towing and a federal tax deduction that would save me $100 to $200 next April.

Given that I had some pressing money issues, my next thought was that I should junk my car with a local auto auction. They also offered free tow away, and the potential to make some cash if a junk car sells for more than $500. Given that the Blue Book value of my car was $500 in perfect condition, and it wasn't, I couldn't see that making much, if anything.

I also called some local junk yards. One offered me free tow service and $50, another charged $125 for towing, but said my car was worth $200, making me $75.

Frustrated, I ended up simply calling three businesses I found on the Internet that offered fast cash for junk my car. I got the runaround once about various fees, another junk car buyer offered me $75 and a free tow for a clear title, and the last one offered $125, no fees, and free towing. I took the last one.

The lesson learned is that it wasn't so easy to junk my car. I learned after many hours of research, phone calls, and e-mails, that it was all about very small dollars. Keep it simple, do it fast, and take the biggest cash offer for your junk car.