A junk car sitting in your garage is never a good sight. It takes up space and is of no use. Some people might argue that it has sentimental value but is it really worth keeping?
If you’ve decided to sell your car to the junkyard, then congratulations on choosing to let it go. However, you shouldn’t just sell your car to the junkyard just to get rid of it. Did you know that you can actually make money out of it? How much, will depend on your car itself.
Do you want to know how much your car is potentially worth at the junkyard? Let’s help you with the estimate by discussing the different factors that could affect the value of your vehicle.
Note On Selling In The Junkyard
As we’ve mentioned, you can make money out of selling your car to the junkyard. However, you must also remember that your car is not being traded as a car. The value would be based on the scrap value of your vehicle.
All cars are made of different metals like aluminum, steel, and iron. Most cars are usually made of mostly steel. There are lots of other things that could be made out of these metals so they are the most repurposed. The main factor that would affect the value of your car is the current demand for the metals.
Factors Affecting Your Car’s Value
Scrap Metal Prices
Metal is the main material used for vehicles. Luckily, metals have a variety of uses, and metals for cars can still be reused. One of the deciding factors for your car’s value is the current price for metals.
Timing should be considered here because the price of the metals also fluctuates from time to time. That would depend on the demand for them. It is a good idea to do some research to figure out the price of scrap metals to get a picture of how much your car would be worth.
The weight of the car also affects the price of your junk car. Junkyard owners pay more for cars that are heavier because the scraps are also calculated by weight. If they get more then they’ll pay more as well.
Car’s Model, Make, And Year Of Production
Another significant factor when it comes to estimating the value of your vehicle is the make, model, and year of the car. Also, cars that are in better condition for their make, model, and year would be worth more.
Some estimate the junk car’s value by how much it would cost when sold as used. At the most, you could get about 40% of that. Cars that are popular and in-demand may be paid more. If there are more people who are looking for its components, there is a chance for the value to increase.
Recent cars that make use of fewer metals and more environmentally-friendly plastic would be worthless because of lower metal contents. Additionally, newer models that contain more magnesium and aluminum will be worth more than those that contain more steel.
Most of the cars sold at the junkyard have already reached the end. They could already be difficult and expensive to repair. In such cases, they are more likely to be recycled and scrapped for parts.
If your car still has parts that are salvable, they could be sold to specific buyers looking for such parts. In that case, the price of your vehicle may increase. However, if the car is too damaged and the parts can’t be reused, it will just end up being scrapped. That will lower its value.
Where are you trying to sell your vehicle? Are you in Kansas City? We ask because your location also affects the value of the scrap metal. It can increase or decrease depending on the local demand plus the laws mandated by the state in relation to scraping. There are states that are very strict and thus will require more processing before the vehicle is sold. That could lower the value of your car because they also have to consider the cost of processing.
Many junkyards don’t offer free towing service and junk removal. Whether you have your car towed by a wrecker or a wheel lift, you’d have to pay for the service. That could lessen the money you take home for getting rid of your junk car.
The mileage of your car also states how much it is used. It reflects how much wear and tear it could have gotten. The mileage can also affect the condition of your vehicles. Usually, those with lower mileage will be worth more. That’s because there’s a better chance for salvageable parts.
Are you looking for someone reliable and punctual to tow your car to the junkyard? There is no one better in Kansas City that does this than Clockwork Towing Company…