Did you know that even the most broken-down junk car could potentially earn you some cash? When most people think about selling their old vehicles, they only consider the ones that can still run, or could run with a few repairs. However, even cars that haven’t run in years could be worth some money.
How much money can you get for your junk car? This will depend on several factors, which are explained in more detail below. The good news is that there are many companies that pay cash for junk cars, sometimes even providing towing services to make the process smoother.
Even though junk car prices can vary widely, most of them fall somewhere between $100 and $500. However, depending on the condition of the vehicle (and a few other things), the price could be lower – or even as high as $15,000! If you want to know what your junk car is worth, you may want to get a quote from a junk car buyer; it’s typically easy to do, and won’t cost you a dime.
Factors that influence the price of junk cars
When evaluating your junk car, buyers will consider the following factors:
- The vehicle’s condition
There are many reasons why a functioning vehicle could become a junk car. In some cases, it just gets old and stops working. In other cases, something like a wreck, flood, or other event could damage the vehicle beyond repair. All of these things will affect the condition of the vehicle, and they’ll also influence its sale price. For example, an extremely old car could be riddled with rust, which would decrease the amount of metal that can be salvaged from it. A wreck could damage key engine parts, which would also lower its value.
If your junk car is damaged, though, this shouldn’t keep you from selling it; this just means that you may get a slightly lower price. Even the most rickety vehicles usually have some resale value, and they certainly won’t make you any money sitting in the backyard shed!
- Make and model
For new or used cars, the make and model influence the price because of the prestige and functionality (or lack thereof) that the vehicle offers. For junk cars, it’s more about the amount of steel that’s used for different models. When junk car buyers inquire about the make and model of your vehicle, it’s so they can provide a more accurate estimate based on how much metal they’ll be able to recycle from it.
- Location
Just like the prices of nearly anything else, junk car prices vary from one region to the next. This is partly due to variations in local economies, but it’s also related to the amount of taxes involved, and how much demand there is for your particular type of vehicle in the area. Junk car buyers are able to sell parts from the vehicles they buy to mechanics, so the more demand there is for certain car parts, the more those parts will be worth.
- Price of steel
Steel prices fluctuate from year to year, and even from month to month. However, this metal is known for consistently retaining value, whether it’s recently produced, or pulled from a junk car. Many different types of metals are used to manufacture vehicles, but steel is one of the main ones (in addition to aluminum). However, steel costs more than aluminum, so steel prices will have more of an impact on how much you get for your junk car.
- Prices of other metals
Other metals used in car manufacturing include aluminum, copper, cadmium, and lead. These can be stripped from a junk car and sold as scrap metal, and if prices are high, your junk car could be worth more than you thought.
- Age or mileage
Materials like steel or aluminum can be melted down and used for new vehicles, no matter how long they’ve been on the road. However, engine parts and other components are often taken out of the junk car, refurbished, and sold – if they still have any use left in them, that is. There will always be a demand for used parts from more recent models, since this is a cheaper alternative to having new parts put in. However, if a vehicle is extremely old, or if the parts have too many miles on them, they won’t have as much resale value (if any).
- Missing parts
In some cases, junk cars have achieved their status because certain key parts have been removed for use in other vehicles. It could be part of the engine block, the seats, the windshield, or something else. Since the junk car buyers won’t be able to sell the missing parts, this will decrease the amount that your junk car is worth.
How to get the best price for your junk car
Based on the information above, it may seem like the ultimate value of your junk car is out of your hands. That isn’t quite the case, though; there are a few things you can do to make sure you’re getting the best price possible.
- Ask for multiple quotes
There are countless junk car buyers who will provide quotes online; it often takes just a few minutes to complete the process of requesting an estimate. By getting multiple quotes, you’ll be able to choose the company with the best offer.
- Find a junk car buyer that will tow the vehicle
Paying for a tow can be expensive, but many junk car buyers will include that as part of their service. To make sure you don’t spend half of your cash on a tow truck, double-check this detail before committing to anything.
The takeaway
If you have a junk car sitting around, chances are you’ll be able to make some money from it. That could be a couple hundred bucks, or several thousand; most junk cars top out at around $500. That being said, who knows how much you could actually get for your junk vehicle? Maybe it’s time to find out!
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