A junk slip is just a receipt from the Department of Motor Vehicles (DMV) showing that you have junked your vehicle.
In order to junk your vehicle, you must turn in:
the pink slips (AKA: Title) and the license plates of the vehicle.
Any individual who junks their vehicle must do the following:
pay back any fees/penalties if their registration is not current. If your registration is current, then it will not cost you anything to receive your junk slip.
Typically, an individual junks their car and gets a junk slip when heir vehicle is no longer in service and you will not be fixing it or operating it any longer.
Most people give their vehicles to Junk Yards/ Salvage Yards, but some individuals instead, dismantle them to be able to sell or reuse the parts of the vehicle.