Scrap cars or junk cars might seem like nothing more than a waste of space and a nuisance to deal with, but you can actually turn your old scrap heap into a wad of cash if you know how. To sell your junk car, take it to a nearby scrap car recycling centre or contact them online or over the phone if you can’t get the car to their location.
How much money you can get in return for your scrap car is dependent on several factors like the current demand for parts, the condition of the car, the make and model, and the price of scrap metal at the time of sale, but most junk cars will likely fetch you somewhere between $100 and $500. That’s not too shabby for a hunk of metal that’s been sitting in your garage for a year.
This informative post breaks down what factors play a role in determining how much junk cars go for at scrap car recycling centres.
Demand for Parts
It’s a basic economic principle that when there is high demand for a particular product, its value – and therefore price – will go up. When you take your junk car to a scrap car recycling centre for selling, the price they offer will be dependent on how much demand there is for the parts on your car that remain salvageable.
If you have a car with rare parts, it will be more difficult to get a high price because most of the demand for parts is for cars with common components. It’s just easier to find buyers for car parts that can benefit a wider pool of car owners.
In addition to the rarity of parts, which parts are salvageable is a huge determinant of how high your car will be valued. For example, tires usually have a high resale value. So, if you’re selling a junk car that has tires in good condition, you’re more likely to fetch yourself a premium price.
Condition of The Car
Naturally, the better the condition of your car, the more money you can make. Scrap car recycling centres will often sell junk cars to people who love to refurbish cars and get them up and running again. That means the less money they have to spend fixing it up, the more money they will be willing to pay upfront. If your car is a total dud that only has a few working parts, you’re going to receive a lower offer.
Year, Make, and Model
What’s the year, make, and model have to do with the return you can get on your junk car? The concept is very similar to how the demand for parts affects the value. Imagine rolling up to a scrap recycling yard with a junk car from the 70’s that has parts so outdated they don’t work in modern cars. Not many people will be willing to pay good money for those parts unless you get lucky and find a collector who is specifically looking for your unique car. If your car is a more common model, you’ll likely fetch a better price.
Price of Scrap Metal
Since most junk cars are old and don’t have many salvageable or working components, the current price of scrap metal can have a significant impact on how much junk cars go for. Even total duds can get value for their scrap metal because it can get resold and recycled into other products.
Unfortunately, the price of scrap metal is constantly changing, so it’s hard to tell how much you could make at any given time unless you’re keeping up to date with the supply and demand of aluminum and steel.