Did you know that 80% of your car is recyclable?
Even a decades-old vehicle or a wrecked car has some value. Salvage yards can sell the parts that still work, while scrap yards take care of the remaining metal.
Do you have a car that’s reached the end of its lifespan? Are you wondering how to determine the scrap value of a car?
We’ll dive into that topic now, so keep reading for the answer!
How Much Is My Scrap Car Worth?
The exact price depends on your locale and the current price for scrap metal. To get an idea of the minimum scrap value of a car, multiply the car weight in tons by the scrap metal price per ton.
What does this look like in real life? Here’s an idea of what you might expect to receive for a junk car:
- Small cars: $100-$200
- Full-size cars: $150-$300
- Trucks & SUVs: $300-$500
If you want a more specific idea of your scrap car value, check online. Some companies provide free quotes for junk car value.
Factors That Determine Scrap Value of a Car
How can you get a better idea of what your junk car is worth? Here are three factors to consider.
1. Current Scrap Metal Prices
The average car contains around 2,400 pounds of steel, while trucks or SUVs contain around 3,000 pounds.
Meanwhile, the average car in North America also contains 327 pounds of aluminum. Scrappers can also recycle your car’s copper, platinum, palladium, and other metals.
How much scrap yards are willing to pay for your junk car depends on the going rates for these metals. Check the current prices in your area, keeping in mind that they fluctuate daily and seasonally.
2. The Time of Year
Interestingly, there are certain times of the year when you’re likely to get a better price for your scrap car.
For example, you’ll get more for an old SUV or 4×4 vehicle during the cold winter months. Convertibles fetch more money during warmer summer months or in sunnier locales like Florida or Arizona.
Bonus tip: Junk car prices tend to go up when the cost of fuel goes down.
3. Any Salvageable Items
Keep in mind that scrap prices are only for the recyclable metal in your car. It doesn’t include the price of other parts of the car that are still in working order.
These might include:
- the stater motor
- the alternator
- new or slightly used tires
- the onboard GPS system
You won’t get full market value for these items, but you can negotiate a higher scrap value based on their resale value.
Where Can I Sell My Scrap Car?
By now you have a better idea of how junkyards determine the value of a scrap car.
What should you do with your junk car? Ask around or do some research online to find scrap yards and salvage yards near you.
Now that you understand the scrap value of a car, what’s next? Our site is full of great advice about cars and motorcycles, so stick around and keep browsing!