Has your car turned into more of a lawn ornament than a reliable mode of transportation?
You may even go as far as calling it a piece of junk, and hey – that’s ok.
Statistics show that there is an increased global demand for metal recycling. So go ahead and get rid of that hunk of junk, the planet (and your neighbors) will thank you.
Despite your car’s junk condition, there are still options to sell and make some money back.
Keep reading to learn the real value of your junk car and how to sell it.
Determining the Value of Your Junk Car
Engine problems, body damage, or just plain old?
Every car is worth something, even in its worst condition. That’s because companies who buy junk cars are interested in them for the parts they can recycle, like batteries and metal.
To determine your junk car value, find out what the scrap yard pays per ton. Once you determine the weight of your car, you can multiply this amount by the dollar amount.
Of course, this will not equal the car’s actual market value if it were in running condition.
If your car still has valuable working parts, these can be removed and sold separately for a higher price. These can include the engine, alternator, or even tires with solid tread.
How much to junk a car depends on whether you decide to strip it, part it out yourself, or sell it.
How to Junk a Car
You’ll want to know the key components that are factored into the appraisal of a junk car if you’re going to get the most value out of it.
Most salvage companies base their appraisals on three factors:
- Type of car
- Vehicle condition or level of damage
- The local price of scrap metal
The weight of your car will be a determining factor in your appraisal due to the sheer amount of metal available for scrap. That is why SUVs and trucks will garner more money than small sedans.
If your car still has an engine, you’ll receive more money for the block of steel – even if it doesn’t run.
Though you can sell junk cars in any condition, their condition still plays a role in the appraisal. For example, vehicles with extensive body damage won’t receive nearly as much as cars that are just old or not running.
Ultimately, the value of your junk car will depend on the current value of scrap metal. If you know when to sell, you can time the sale of your junk car accordingly.
How to Sell a Junk Car
Many people opt to use junk car buying services to save from the hassle of parting out and scrapping their car. You can get a fair price considering the amount of time and effort saved trying to sell a junk car on your own.
On the low end, you can expect to get anywhere between $80 to $400. Some companies specializing in buying junk cars can pay as much as $500 up to $1900 cash for junk car depending on condition and age.
Turn Your Junk Into Cash
Now that you know the actual value of your junk car, you can squeeze every last drop of lemonade out of that old lemon.
Did you find this article helpful? We’ve got plenty more where that came from. Check out the “How To” section of our blog for more great tips!