If you’ve decided to sell your old vehicle, finding a junk buyer is not difficult, but determining the value of your junk car is a little more complicated. The bottom line is that it is always less than you anticipate.
Junk cars can be purchased for between $50 and $20,000, but are typically purchased for between $100 and $500. A ten-year-old car is worth no more than $200, while a newer, better-maintained vehicle is worth up to $1,000.
Generally, the heavier the car, the higher the metal price when it is sold. For instance, two identical cars of the same make and model can be sold for $70 and $520, respectively.
Why is this the case? Simply because one can be a sedan and the other a sport utility vehicle, the heavier the vehicle, the more money you earn. Alternatively, one has a completely deformed body while the other is in such perfect condition. You can reach out to Old Car Removal to get the best price for your junk car.
The following factors affect the amount you receive for your junk car:
Location of the vehicle
The area in which you live can have an effect on the amount of money you earn. For example, the closer you are to the junkyard, the more money you earn because the junkyard does not have to worry about towing your vehicle a long distance. The metal and scrap prices in your area. How well-known is the vehicle in your neighbourhood?
Make, model, and year of the vehicle
The make, model, and year of your vehicle all contribute to the demand for replacement parts. This is not always the case, as many cars are retired from the road at the end of their useful lives. For instance, there are a large number of Dodge Neon cars on the way, and you will not receive a high price for them because junk vehicles are typically inoperable.
Cars also evolve year after year, becoming more plastic and environmentally friendly, which reduces the value of their junk and eliminates the need for the old part.
Naturally, the more immaculate, clean, and smooth the vehicle, the more money it will fetch in comparison to a rusty and clunker.
Price of scrap metal
The most critical factor in determining the value of a junk car is the amount of metal contained within. You are a metal merchant. As a result, the scrap metal price can have a significant impact on the value of your junk vehicle. Nowadays, the amount of money you can earn from your junk car is limited, as the price of scrap metal continues to decline.
With this in mind, you can sit and ponder the following questions:
- Is my vehicle still operational?
- Is it vintage? Is it still relevant in today’s market?
- What year, make, and model is it?
Evaluate the overall condition to get a sense of it.