Selling your junk car to a junkyard is a simple and quick way to make money immediately. Moreover, you can get rid of the car that serves no purpose lying in your garage. However, you must be wondering why someone will pay you for a car that is not in working condition. Well, you should know that irrespective of the car’s condition, it is worth some money to junk car dealers for its metal body and other working parts. In fact, the value of scrap cars is increasing with time, but not every junk car holds the same value.
Below, we have listed the top five factors that determine the value of a junk car.
1. Price of the current scrap metal: You will be surprised to know that you can get some scrap metal from all cars, even the ones that are beyond repair. As we know, steel and aluminum are the primary materials used in automobile construction. They can be repurposed into new products; therefore, junk car dealers buy scrap cars to extract metal from them and resell it. Thus, the current scrap metal price significantly affects the overall price of the junk car.
Please note that scrap metal prices fluctuate, and only steel and aluminum supply and demand are taken into account.
2. The car type, make, year, and model: Your junk car may hold a high value if it is rare, still in use, or has parts in demand in the market. You must know your car’s year of manufacturing and model to determine its value. Remember, junk car dealers have enough knowledge about the value of cars and offer prices based on the value of exporting or breaking the vehicle.
3. Weight of your car: Cars contain a lot of metal which is in great demand. Thus, weight plays a significant role in determining the value of a junk car. The heavier the vehicle is, the more steel the dealer gets for sale, and they will be ready to pay a higher price for it.
4. Overall condition of your car: The current overall condition of your car is a crucial factor that determines its value. The price will depend on whether the dealer can repair your vehicle and resell it, or if they will have to extract the metal and sell the parts separately.
You can get a good deal if the car can be repaired and its current market value is decent. However, you will get money based on only the metal value if it is beyond repairs.
About Lucky Buys Junk Cars
Now that you know the factors that determine the value of a junk car, it is time to look for a junk car dealer. At Lucky Buys Junk Cars, we buy junk cars in St. Louis and immediately pay cash to the seller, regardless of the car’s condition. Our customers recommend us for our professionalism, punctuality, and authenticity. For more information, contact us at (314) 526-3992, or fill out our contact form.
