Getting Paid for Junk: How Much Is My Junk Car Worth?
Each year about 14 million tons of recycled steel is pulled from junked cars. This junk steel makes up about 25 percent of a newly manufactured car. If your vehicle is on its last legs, it’s time to junk it and let it go on to its next life.
So you’re probably wondering, how much is my junk car worth? There’s no simple answer to this question. Several variables go into the price you’ll get offered.
Keep reading this guide to learn how much your junk car might be worth.
How Much Is My Junk Car Worth?
As a general rule, the bigger your car is, the more you can expect to get for your vehicle. So a Honda Civic is going to get less than a Chevy Suburban. This is because bigger vehicles have more steel in them.
Is the Car Complete?
To get the most for your car, it needs to be complete. This means it has an engine, transmission, doors, hood, catalytic converter, and wheels. The price will go down for every component that the car is missing.
Junk Yard vs. Pull-A-Part
If you put “junk my car” into your Google search bar, you’ll find two types of buyers, junkyards, and pull-a-parts. The junkyard is going to pay you based on the weight and current scrap metal prices. You’ll be able to get more from a pull-a-part yard because they’re looking at the overall resale value of the parts.
Junkyards are less concerned about damage because they are paying you for the value of the metal. Pull-a-part yards do care about the damage. The more damage there is, the greater this will affect the price offered.
Both buyers will make an offer on totaled cars. A car gets totaled when the cost of repairing the vehicle is greater than the value of the car. For older cars, this means that not a lot of damage can result in the car becoming totaled.
Check with the buyer and confirm with them the amount of damage.
The price of scrap metal varies by region, so where you live can play a significant role in the offer you receive. It’s also important to consider your proximity to the salvage yard.
This is because reputable buyers will tow the car away for free. The further away from the junkyard the vehicle is, the more it cuts into the buyer’s profit.
Junk Your Car Today
You shouldn’t be wondering how much is my junk car worth? By following this guide, you should have a good idea of how the value of your junk car will get determined.
You can expect to get the greatest offer if you have a larger vehicle without a lot of damage. If you have a smaller car that’s missing parts or has a lot of damage, then your offer value may not be what you’re hoping for. Shop around and get multiple offers to ensure you get the best price for your junk car.
Check out the buying and selling section of our blog for more advice on getting the best price for your car.