How is a Junk Car Valued?
The best and quickest way to get rid of the old clunker is to sell it to a junkyard for cash.
Several people have old cars sitting in their garage or driveway, serving no purpose and taking up valuable space on the property. The best and quickest way to get rid of the old clunker is to sell it to a junkyard for cash. Most people don't realize that every junk car is worth something, even when it is beyond repair or unfit to be on the road. The metal body and other functional parts of the automobile are of value to junk car dealers.
When selling a junk car, it is helpful to know its value first to ensure one gets its worth. Here are the top factors that play a critical role in determining the value of a junk car:
Year, make, and model
The year of manufacturing and make and model determine the current market price of the car and its parts. Well-maintained rare or vintage cars hold a higher value than rusty, non-functional vehicles. Some specific car models have higher demand in the scrap car market than others due to their expensive spare parts and superior design.
Current scrap metal prices
The scrap metal prices are critical to determining the junk car's overall value. Aluminum and steel are the primary metal used in cars. Junk car dealers extract metal from automobiles for reselling. Scrap metal prices fluctuate daily, depending on demand and supply, energy costs, global economic conditions, and natural disasters. Selling the car when the metal prices are high can help a junk car owner get a good deal.
Overall condition
Another factor in a junk car's value is its condition. A vehicle in good condition, drivable, and with its essential components intact is more valuable than a rusted car with missing parts and other mechanical problems. When the car repair cost is too high, the junk car dealer will most likely salvage it.
Demand for functional car parts
Suppose the junk car has operational car parts (like doors, radios, fenders, GPS, lights, suspension, airbags, wheels, battery, bumper, and rims) with high demand in the market or is recyclable. In that case, it will fetch a higher value. Parts of a rare car are more in demand, and the owner can expect a high price. Junk cars with parts are rarely resold, so getting a good value can be challenging.
Weight
Weight significantly affects the overall value of a junk car. Bigger and heavier vehicles have more metal and are valued higher as the junkyard will get more metal to sell.
Location
The junk car's location can affect its selling price in several ways. The scrap metal prices in the region, the popularity of a particular vehicle in that area, and the distance of the vehicle from the junk car buyer or towing company will determine its value.
Get rid of the junk car!
These are some essential factors that can affect the value of a junk car. Look for a local, reliable junk car buyer to make the most out of the junk car and get immediate cash.
If you are in the Phoenix Metro area and want a no-hassle cash offer on an old, wrecked, unwanted, salvage or burned car, SUV, van or truck, give us a call at I Buy Junk Cars. 480-771-8290.