Here’s the situation: you’re the not-so-proud owner of a junk car. It’s practically driving you crazy, and you’re ready to be rid of it. You’ve finally made the decision, too: you’re going to sell it ASAP.
First, you attempted to find a private buyer in your area that would pay you cash for it. That didn’t exactly go as planned, though. And, really, who can blame someone for not wanting to buy a junk car? Your vehicle doesn’t run, and most private buyers are looking for functioning vehicles. For the same reason, it’s not exactly practical to sell your junk car to a dealership.
In fact, at this point, the only thing that makes sense to do is selling your vehicle to a scrap yard. Going this route can be a little unnerving, though. After all: how do junkyards even determine what your vehicle is worth in the first place? Without understanding how junkyards come up with the price that they offer you, it’s hard to know whether or not you’re getting a fair deal. No need to worry, though: we’ll explain exactly how the process works. And, once you know how junkyards determine prices, it’ll be easy to ensure that you get a fair price for your junk car.
The Year, Make, and Model of Your Junk Car
If you’re trying to sell a relatively new vehicle that’s in decent condition, the price that you’re quoted by a junkyard might be based (at least in part) on your junk car’s year, make, and model. If the scrap yard is going to use this information to determine your vehicle’s value, they’ll ask you for it up front when putting together your estimate. If you have a junk car that’s in good shape, the junkyard will more than likely sell your vehicle at a used car auction rather than scrapping it for its component parts and materials. As a result, the junkyard will probably pay you a decent amount for your junk car.
Of course, the vast majority of junk cars aren’t “relatively new” or in “decent condition.” Let’s be honest: most of them are practically falling apart. So, most junkyards will determine pricing with a different method.
Instead of quoting you a price based on the age and type of vehicle you’re selling, most junkyards will pay you a certain amount based on the scrap metal value of your vehicle. Junkyards tend to determine this amount by assessing the weight of your junk car and then multiplying that by the current price per ton of scrap metal. They may be able to remove certain functional parts and scrap them individually, too. If this is possible, then that could add to the value of your vehicle.