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Upgrading your vehicle is a major financial decision. Budgeting is an important part of the process, and should include the amount you’ll make getting rid of your current vehicle.
But if you’ve got a clunker in the driveway, estimating ahead of time what your vehicle is worth can be difficult. Aside from making budgeting easier, knowing the value of your car ahead of time will ensure you can sell your car for the most money possible.
Unfortunately, traditional car valuation tools like Kelley Blue Book aren’t useful when you’ve got a junk car on your hands. As a point of comparison, it is possible to look on car auction websites to cars of the same make and model and similar condition as your own.
While this is a helpful jumping-off point, comparing your car’s actual condition to one online is difficult to do reliably. You should also consider some of the following factors when determining the value of your car.
Location, Location, Location
It may come as a surprise to many drivers to learn that where you live actually has a pretty big impact on the value of your car. This is the case for a few reasons. The first is competition. Areas with more junk buyers have to compete with one another for sellers, meaning you’ll make more money if you live somewhere with more junk buyers than an area with only one or two in town.
Beyond competition to purchase your car, the actual selling price of the scrap metal extracted from junk vehicles varies regionally and over time! That means the value of your vehicle can change both day to day and depending on what part of the country it’s in. For example, scrap metal on the west coast of the country tends to sell for a bit more than it does in the Midwest.
The popularity of your car in your area also has a lot to do with how much it’ll sell for, particularly if it’s still in fixable condition for someone with the right salvage savvy. If, for instance, you live in an area where pickup trucks are in high demand and you sell your totaled pickup, you’ll make more for it than you might in an area where sedans are more popular.
Generally speaking, though, the weight of your vehicle has a positive correlation with its value, meaning heavier vehicles are worth more!
Age And Mileage
Most cars being sold for scrap are about 10-15 years old, and have driven many miles in that time. While there are always the exceptional old cars with hardly any miles that still run great, age and mileage go together for a simple reason — routine wear and tear.
After a certain amount of usage, many of the parts in a car will wear down naturally, leading slowly to system failure as the number of necessary repairs becomes untenable. This very breakdown is the reason many cars are brought into junkyards in the first place.
When cars are brought into scrap yards and broken down, much of their value comes from reselling of the still-functional parts within. If you’ve got a relatively new car that was totaled by your insurance company over something like deployed airbags (which is sometimes all it takes!), you’ve still got a very valuable vehicle on your hands!
Condition Of The Vehicle
While it may seem the most obvious, not everyone is aware of how exactly the condition of their vehicle impacts its worth to a scrap buyer. After all, if all the cars someone buys are junk, what distinguishes more or less valuable clunker cars from one another?
Keeping in mind that the parting out and re-sale of functional parts is the most profitable aspect of breaking a car down. If your car is incomplete — i.e. missing something like the catalytic converter or the tires — that can have a major impact on your car’s value. A car with a damaged frame and all its parts is worth more than a car with a flawless frame and a missing engine!
It’s important to be honest about the condition of your car when seeking out quotes. If you’re unsure of how to answer any questions you receive about your car’s condition, it may be helpful to keep a mechanic’s report on hand.
Sell Your Junk Car With CarJunkYardsNearMe
Now that you’ve got an idea of what factors influence your car’s value, you’re ready to sell! The easiest way to sell a junk car by far is doing so online. From the comfort of your own home, you can have your car towed away and receive payment so you can move on with your life!
CarJunkYardsNearMe is the best place to sell your junk car because we know just how much your car is worth, and will partner you with trusted buyers in your area who are interested in cars just like yours.
Get a free quote in just 90 seconds and schedule your free pickup within 24-48 hours. Get the cash you deserve for your junk car today with CarJunkYardsNearMe.
Frequently Asked Questions
How Much Is My Junk Car Worth?
The value of your junk car depends on factors such as the location of your vehicle, its age, its current condition and current scrap metal prices. The easiest way to figure out its current cash value is to request an offer from CarJunkYardsNearMe. It takes just 90 seconds, comes with no obligation, and includes free towing and title transfer.
How Much Money Do You Get If You Junk A Car?
The exact amount you can get depends on factors like its location and condition, but typically you can get anywhere from $200 to closer to $1,000 for a junk car. Larger vehicles are typically worth more than smaller cars. CarJunkYardsNearMe can help you find out what your car is worth in just 90 seconds.
What Is Considered A Junk Vehicle?
Typically, a car would be considered junk if it’s damaged, old and not worth repairing anymore. A handy rule of thumb is that if the cost of repairing the vehicle is more than 50 percent of its current cash value, it’s probably time to junk it. CarJunkYardsNearMe can help you junk your vehicle in any condition in just 24 to 48 hours after accepting our offer — find out what your vehicle can get in just 90 seconds!
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