If you want to sell your junk car for cash, it may help to know that every junk vehicle has value to junk car buyers. The question you probably have is about how much they will pay to buy the one that is junking up your yard. Of course, not all junk cars are worth the same amount of money. Don’t worry. Figuring out the value of your junk vehicle is pretty easy. You’ll need to be clear on the following six factors that are used to determine the best price for junk cars, so you can be sure you’re getting the highest possible amount for your old vehicle.
The Value of Your Car’s Parts
Even if your car is not worth restoring to a usable condition, the parts may still be of value to a salvage dealer. Virtually every single part of a car that is still usable can be sold. If other people in your area have the same kind of car and need parts that are too expensive to buy new, the demand for your vehicle’s parts means they have value to a salvage dealer.
The Condition of Your Automobile
If your car or truck engine still runs, it’s worth more. How much more it’s worth is based on the engine’s and your vehicle’s general condition. Its value will depend on whether the car needs just a little inexpensive work or major repairs. Typically, the less it will cost to repair the vehicle, the more it’s worth.
Current Price of Scrap Metal
The current price of scrap metal can be a big factor in the value of a junk car. Scrap metal prices fluctuate based on supply and demand. For example, when there’s a lot of steel or aluminum available on the local market, that means there’s a high supply, so prices will be lower. The total weight of each type of metal in a vehicle varies from one auto model to another. Heavier vehicles are worth more.
The Kind and Age of Your Car
Is your car still relatively new? If that's the case, you'll be able to get a better price for your car than if it were older. The essential considerations in valuating a car for purchase by a salvage dealer are its make, model, and year.
Your Car’s Resale Value
Generally speaking, a car’s value to a salvage dealer is likely to be between 20% to 40% of its resale value to a used car dealer, depending on local and national markets and other factors. If you plan to sell the car for scrap, its value will depend on current scrap metal prices. But, if the vehicle is worth repairing, you may be able to negotiate a higher price and it may pay to obtain a few estimates.
Where Your Vehicle Is Located
Where your car is located factors into its value. For one thing, scrap metal prices vary between states. Some vehicles are also more popular than others in some areas of the country, which affects the vehicle’s local market value and the resale value of its parts. Even the towing distance for junk car removal and transport to the junkyard affects the vehicle’s value to the junk car buyer.
Get the Best Price When Selling Your Junk Car
Be sure to do a bit of research to get the highest price for your car. If you simply call the closest junkyard and schedule for them to come and haul your vehicle away, you might be forfeiting tens to hundreds of dollars you could receive by checking around a little more. If you prepare yourself with information, you can expect to negotiate a better price for your old car.
Get Paid Top Dollar For Your Junk Car – Junk Car Cash Out?
We buy junk cars every day, and we pay the best price for junk cars and trucks and virtually any other motor vehicle you want to sell. When you call Junk Car Cash Out, one of our car buying experts will give you a price by phone for your junk car. You can schedule our tow truck driver to come and pay you cash and haul away your unwanted vehicle free of charge. (We also buy scrap metal of all kinds.)