How Much Is A Junk Car Worth?

Do you have a junk car that is gathering dust by sitting on your driveway? Rather than letting it take space, you can sell it. This way you will get rid of your junk car and will get some money at the same time.

There are many junk car buyers who would gladly buy your junk car. They will even pay you a good amount of cash if your car is worth it.

Before you sell your car, you have to find out how much is a junk car worth. In 2020, you can get anywhere from a little $50 to a whopping $10,000 depending on the condition of your car.

Various factors can affect the true worth of your junk car. Some of those factors are given below. So, take a look at those to know how much is a junk car worth.

Your car’s location

Your junk car’s location has a lot to do with the value of it. When you are thinking about how much is a junk car worth, you should consider which city or town your car is located in.

If your town has a bunch of junk car buyers, there’s a high chance that you’ll get a good price for your car. You’ll have more options in hand and it will result in a good bargain for you. Even the price of scrap can vary from place to place.

There are even certain models of cars that are popular in some parts of the country. So, you will get more cash if your owned model is popular in your area.

Your car’s age

In the US, most of the cars that are sold as junk cars are at least 10 to 15 years old or even older than that. As you are thinking of selling your car to a junk car buyer, I’m assuming it’s already pretty old.

The age of your vehicle can play a significant role in how much cash you are likely to get for your junk car. A newer model will likely get you more cash than an older one.

Made year and model of your car

The made year and the model of your car is a key piece of information. When you are dealing with a junk car dealer, this information is really important as it will determine your car’s present value.

As we’ve discussed a moment ago, some models and makes are more popular than others in some parts of the country. So, if you own one of them, you can consider yourself lucky.

The condition of your car

The worth of your junk car mostly depends on the present condition of your car. Is your car in a running state? What is the mileage of your car? Is your car severely damaged? All of these matters will have a pretty solid impact on the value of your car. You have to be honest with the junk dealer about the condition of your car. Only then they can get the exact idea about your car and determine its true worth.

Current prices of the scrap

Most of the time junk cars are so old that they can only be sold for their scrap value. So, the price of the scrap is crucial for junk dealers. It’s important for you too as your junk car’s price will be decided by the current price of the scrap.

The price of scrap is ever-changing. It fluctuates a lot. So, try to know the current price of scrap to bargain about your car’s price.

Tips to get a good price for a junk car

As you already know how much is a junk car worth, let’s now talk about some important tips to increase the price of your car.

  • Have your car title- You need to have your car title to sell a car in almost every state. Though scrap yards can be flexible about the title, it may affect the price of your car negatively. So, prepare all the documents related to your car to get a good deal.
  • Know the current price of scrap metal- As we’ve already told you that the current price of scrap is one of the most important factors when you are trying to sell your junk car. So, research the current price of scrap and get ready to bargain with the junk dealer.
  • Find multiple junk dealers- Try to find more than one junk dealer. Then compare the price and choose the best one. You’ll get a better deal.
  • Name your price- Not every car dealer is honest. Many of them will try to con you. Do your groundwork and name the price of your car yourself. Just don’t overvalue it.

Let’s wrap things up now.

These pieces of information should be enough to help you to get a good price for your junk car. Just remember to research before you bargain with a junk dealer and you’ll be good to go.

How Much Is My Car Worth Scrap?: Five Factors That Determine The Price Of Your Junk Car

If you’re here reading this then we bet you’ve been on google for hours trying to find an answer to the question “how much is my car worth scrap?”. Firstly, congratulate yourself as you’ve taken the first step to getting rid of your junk car. Many have memories attached to their possessions thus making it quite difficult for their owners to sell

However, the reality is quite different than what you would expect. You’re not asking the right question. Nobody on this Earth can tell you off the bat the price your wheels might fetch as there are different factors that impact the selling price of a junk or scrap car. 

In today’s tutorial we are going to be discussing some of the factors that directly impacts the answer to your question “How much is my car worth scrap?”. 

As a car owner, you need to know the factors that affect the sale price of your vehicles. This is important as many junk car dealers who buy junk cars for cash might give you a very low price in the hopes of making huge margins. Knowing what affects the price of a junk car will definitely bring you in a negotiating position which might result in a higher sale price than initially offered. 

So, let’s start with some of the important factors that affect the sale price of junk cars before you can ask the question “How much is my car worth scrap?”.

Indirect factors that affect the price of junk cars

We’ve segmented the factors into direct and indirect. Indirect factors, in this case, are the ones that influence the price of the junk car without having any relation to the car itself. 

Location, location, location

You might be asking yourself what’s location got to do with the price your car fetches? Well, basic economics dictate that if there is one seller in the market and multiple buyers, the demand for a product or service pushes the price up. 

So, what does that mean? It’s simple. 

If you’re residing in an area where there are many junk car buyers then that creates a level of competition. All the junk car buyers, determined to buy your junk car, will engage in a price war pushing the value your car might fetch upwards. 

Location is also important because some junk cars might fetch a great price in certain parts of the country than others. If you own a junk car that is quite popular among junk car buyers in the area, it will increase the value of the car. However, if you sell the same junk car in another state it might go for a lower price. 

Price of scrap

Price of scrap is dependent on demand and supply so you might see the scrap price fluctuate over the months. This has an indirect impact on the selling price of a junk car. A junk car buyer will never give you a rate higher than the current price of scrap at the time. We recommend keeping an eye out and tracking the price of scrap if you want to fetch a great price for your junk car. Sell the junk car when you feel the time is right.

Direct factors that affect the price of junk cars

Direct factors are the ones that are linked to the car itself. 

Age plays a vital role

Older vehicles get cheaper and cheaper as new offerings make their way into the market. The same is applied to junk cars. Most of the junk cars that are sold cross the ten year ownership mark, some even longer. A relatively newer junk car might get sold for a better price. For example, a 15 year old car might fetch a higher price than a 17 year old junk car.

Car’s mileage

A junk car buyer doesn’t buy an old junk car so that they can put it back on the road. Repairing a junk car and paying premiums to have it running on the road will set anyone back by thousands of dollars. Many junk car buyers purchase junk cars for the sole purpose of reusing spare parts that might still be working. 

Junk cars that have been driven extensively might not have reusable spare parts or the parts might be past their expiration date. This will drastically impact what the car fetches. A junk car with a lower mileage, say 50,000 km will be more interesting to a junk car buyer than a car that’s gone above 200,000 km mark. 

Running condition

Here’s a sales 101 lesson for you. Many buyers will find faults in your product to bring the price down. It’s an ancient negotiating tactic that might’ve been passed down from one generation to the other but we’ve passed it on to you. 

A junk car dealer might not give you a good price for your junk car if they realise that the car is not in running condition. It might not even have anything to do with their business model but is used as a bargaining chip. If you’re able to get your car running, it will definitely make the transaction even more intriguing for the junk car buyer. 

These are some of the important factors that will help determine and even answer your question “how much is my car worth scrap?”. There are other factors like the physical condition of the vehicle, purchasing power and more. 

Still wondering the answer to the question “how much is my car worth scrap?”. It’s difficult to put a finger on what price you can expect as you are required to understand the junk car market

There are many junk car ballers that will lowball you and get a great deal for themselves. The average rate for a junk car is typically in the range of $100 to $500. We recommend that you do your research and head to as many junk car buyers as you can before settling for the one that gives you a great rate. 

Alternatively, you can avoid the hassle and save yourself time by letting us take care of that headache for you. Simply contact us, cash today for junk cars, and we will help you get the best price possible for your junk car.