How Much is Your Junk Car Actually Worth?
Do you have that old junk car sitting around in your garage? Ever thought about how much you can actually sell it for? Is your junk car actually “junk,” or is it just treasure—in disguise?
What are Junk Cars Worth?
While most junk cars are worth between $100 and $500, some can even be worth $20,000, depending on the model! That old Chevy you have lying around could be a gold mine for you!
Chances are, however, that you won’t really be striking gold with that old car. Sentimental value aside, remember to calibrate your expectations. Let’s look into the different factors that might affect the value of your car.
Year, Make, Model
The year, make, and model of your car is important because of demand. If there are still many similar cars on the road, then there will be demand for parts from the salvage yard for replacements. More cars on the road of your make, model, and year mean more value for your car.
Keep in mind that salvage yards pay by the weight of the metal in your car—plastic is cheap compared to metal. Newer models have more plastic in them compared to older models, which may affect their value negatively, at least in regard to recycling.
As you may suspect, the condition of your car matters. Even if your junk car doesn’t run, its other parts may be in pristine condition, and that is valuable to others. For example, a like-new door can fetch a good price for someone who just needs a door. If your car is really rusty or out-of-whack, however, you’re more likely to receive just the bare minimum, scrap metal price for it.
Location: Junk Cars Houston
Proximity to a salvage yard matters. Some yards may come to you to haul your car away, but there would be a cost for it. Otherwise, you’ll have to tow the car there yourself. Additionally, the price for scrap metal can vary differently, and your area may be paying a pretty penny for your car’s metal.
Another factor to consider is that some models of cars will be in higher demand in certain regions compared to others. If you have a car that is high in demand, you’re in luck.
Price of Scrap Metal: Junk Cars Houston
Scrap metal is paid by the ton. Even if your car is truly a pile of junk, a good quality junk car can fetch a higher price if the market is high, but if the price of scrap metal is low, then expect lower prices.
What are junk cars worth? Generally, expect to get 20-40% of your car’s resale value, but be prepared to negotiate so that you don’t get lowballed. Just keep in mind the factors discussed above as you prepare yourself. Finally, remember to bring a car title with you—you won’t get anything if you cannot prove that the car is yours. Contact IBJV today!