Maybe you were in an accident and want to recoup some money by selling the damaged car for cash. You may simply want to get rid of your scrappy old car for cash and subsequently use the money to buy a brand new one. Whatever may be the reason, if you are hoping to maximize the cash for junk cars sitting in your yard, you need to scout for a scrap car dealer in your locality. Don’t sweat it, we will help find the real value of your junk car.
How Much Cash Can I Get For a Junk Car?
A Junker would take multiple factors into account to arrive at a price for a junk car. This is generally based on the weight in tons times the current scrap metal price minus the junk yard’s cost and fees.
Factors Impacting the Price of a Junk Car
Cash for Junk Cars depends on 7 discerning factors laid down below. The knowledge about these factors would empower you to make an informed decision on how to earn maximum cash by selling your junk car.
Current Scrap Metal Price
Before selling your junk car to a scrap dealer, check the current demand for scrap metal in the local market. The mainstay of a Junker’s business is to sell the stripped auto components to the salvage yards to recycle the scrap metals. This is why the current price of scrap metal is crucial. The Junkers will offer the final quote based on the local scrap metal price.
Weight of Junk Car
The cash that you from auto salvage yards depends on the weight of the scrap material that can be stripped of the junk car. The worth of the junk car is the car weight (in tons) times the current scrap price. To find the exact weight of your junk car, we recommended you to refer the car’s manual, check the inside of the side door on the driver’s end, use a car scale, or contact the car manufacturer.
Current Demand for Junk Car Parts
The junk cars of a reputed and popular brand will fetch top dollars since the parts can be resold in the market easily instead of scrap. Salvage yards will decide on the cash for junk cars based on the condition of the auto components and their demand in the market. The key is to keep your car and its parts in good shape to command better quotes at the time of selling even as a scrap. Components in good conditions are pulled and sold as car components in the markets before scrapping the car.
Make, Model, and Year
The year of manufacturing help you derive the age of the vehicle. Older cars fetch lesser value and soon go as scrap. Make and model of reputed car brands beget good cash for junk cars because the branded spare parts are can be easily resold in the grey market.
Popular and in-demand salvageable components of big brands will bring in top dollars than that of the discontinued make and model. Cars having components made with aluminum and magnesium alloy are always a better bet than steel components. Car components made with plastic and fiber lowers the value of your junk car.
Condition of Junk Vehicle
The present condition of the junk vehicle plays a pivotal role in deciding whether the vehicle is going to be sold for resale or the parts need to be converted to scrap. The junk car business mainly thrives on end-of-life vehicles which are meant for recycling.
The components of end-of-life vehicles are generally not usable and need to be crushed to claim any money. That said, the factors, such as the appearance of the vehicle, the exterior & interior, condition of the internal mechanical components, ability to drive the car up to the salvage yard rather having towed, make a huge difference in deciding the final price of your junk car. Instead of selling as scrap to a salvager, you may put your good condition car for auction to claim a higher price.
Location Where You Are Selling
The price of the scrap metal in your junk car will vary by the market location. The market in various locations will offer different price ranges for the same junk car or the scrap material. Various states of the U.S have different prices for scrap and the steel depending on the scrapping law, current local demand, and the money you paid for the car.
Locations that house fewer Junkers may not offer free towing as a part of their service for your junk car removal. If your location has a few junkyards, then Junkers would not bear the extra cost of tow trucks to pick your car. Hence, logistics at your end becomes crucial because towing involves cost. You can be hassled to find a tow truck in your area, at the same time, it could be pretty expensive. Paying for the towing, gas, and labour costs to bring the car to the salvage yard will reduce the real cash in hand.
Mileage of Junk Car
The mileage will certainly impact the final price of your junk car. The lesser the mileage of your car, the higher would be the value of the resalable parts.
Cars with lesser mileage will fetch higher estimates. Junkers know that owners with lesser mileage will not sell their car as scrap.
Factors that are not an Influence
How much have you filled or left in the gas tank
New components installed, new tire or Brakes
The sentimental value of the junk car
Decide wisely before selling off your car at the junkyard. Selling as a pre-owned car will get a good amount of cash if in well-maintained and good condition. Auction the car if you have the resources to do so. Take it to the junkyard if it is a scrappy immovable old car.