Did you know that the average vehicle weighs about 4,000 pounds?
What's more, much of that weight comes from valuable materials that can fetch a high price even in a used state. Take steel, for instance, which accounts for a whopping 55% of a car's weight.
So, if you have a car that's just sitting outside, rusting and collecting dust, it's time you cash in on it.
Now the big question is, how much can you get for a junk car this 2019? What exactly goes into that price and what can you do to get the highest price for your clunker?
All those questions, we'll answer in this post, so be sure to first read this guide before junking your jalopy!
Getting Down to the Bottom of How Much Can You Get for a Junk Car
That doesn't answer your question, “How much can I get to junk my car?”, but that proves your clunker is valuable. The best way really, to determine how much your clunker is worth is to get it appraised. This gives you the quickest look into how much you can expect if you junked that wreck of a car.
That said, there are still a few things you can do to ensure you'll get the best price for junk cars.
Know the Appraisal Factors Used by Junkers
The year, make, and model are among the biggest determiners of your junk car's value. The location of the heap and if it's still “whole” (if all the main parts are still there) also affect its value.
Of course, the current scrap metal prices also have a large impact on how much money for scrap cars you'll get.
Get a Rough Estimate by Calculating Your Car’s Weight and Scrap Rates
Note that fluctuations on scrap metal prices occur on a daily basis. Meaning, junk car prices today may be different come tomorrow. To stay in the loop of current rates, it's a good idea to follow the London Metal Exchange pricing.
LME metal pricing is the global standard, so most car scrappers follow their rates. The most current LME pricing for scrap steel averages $295 a ton.
Let’s say your car’s weight is the average 4,000-pounder. As mentioned above, steel accounts for 55% of the weight of most vehicles. That means you can already get over $320 for scrap steel alone!
Keep in mind though, that steel isn’t the only valuable material in your car. There’s also aluminum, which the average vehicle contains about 330 pounds of. This material is completely recyclable, so rest assured you can sell it to junk car buyers.
There’s also iron, copper, perhaps even platinum — all of which are some of the most valuable junk car parts.
Be Sure to Factor in Other Usable, Working Parts
Before you get your scrap car hauled, be sure to give it a thorough inspection first. Especially if you've owned it for a long time, which means you may have stashed valuable items in it. Check and clear the glove box, bins, and trunk.
Who knows, you may have actually forgotten about a few wads of bills and coins in these storage spots!
Also, going over your jalopy gives you a chance to locate working parts, like electronics. A media player, a GPS device, cables, and wires — all those can raise the value of your junk car.
You may also have other custom accessories installed, which a junkyard may also buy from you. If it's a 100% working media system, you can uninstall it and sell it individually though.
Pricey custom tires with considerable tread left on them can also hike up your car's value. In this case, replace the tires with balding ones before you ring up the junkyard. You may be able to fit the custom ones in your current, working ride.
What's important is to take note of all these valuable parts and materials. When you give the junkyard a call, ask them if they want to buy these along with the car. They likely will and give you a fair offer for these items on top of the scrap metal found in your clunker.
Sell Your Car Only to a Reputable Junkyard
Having multiple locations is one of the signs telling you a junkyard is legit and reputable. You should also check the company's records and length of time in service. The longer they've been junking, the more at ease you'll be knowing that they've been in business for a long time.
Also, reputable junkyards keep their reputation stellar by offering only the best prices. Otherwise, they would have been out of business a long time ago if they're known for their lowballing.
Another way to get a better price for your junk car is to choose a yard offering free towing services. That way, you wouldn't have to spend between $75 and $125 (or more) to hire a different towing company. Towing should be free and fast.
Cash in On Your Junk Car Now
So long as you keep what we've discussed above, you can have an idea of how much can you get for a junk car. You can start off by getting an appraisal from a legit junkyard. Then, compare the offer with your own calculation based on weight and scrap metal prices.
That way, you can make certain that a junkyard’s offer is fair and reasonable.
Ready for a quick and legit sale of your junk car? If so, then feel free to get in touch with us now! We'll give you a fair price for your beat-up ride and if you agree, pick it up for you ASAP.