If you have a used car on its last leg, you might be interested in selling it for some quick cash. Any junk car, regardless of the make or model, and despite the condition, will be worth something to somebody. But before you sell your junk car, it is essential to understand the potential value. The goal of your transaction should be to make as much money as possible while offering a fair price to the buyer.
Seven points to determine how much your junk car is worth
In most cases, a junk car will be worth between $100 to $400. In some instances, you may be able to make more. To determine what you might get for your junk car, consider the seven following points.
Your car’s make, model, and year
The age of your vehicle and the make and model will play a substantial role in determining the amount of money you can get. It would be best if you didn’t assume that a high-end vehicle will be worth more than others. In many instances, more common cars can be worth more as those vehicles might provide much-needed parts to make a similar vehicle operate better.
The mileage on your car
If your junk car is still drivable, then the mileage on your car will be important. The average car racks up about 12,000 miles per year. So, a car that is ten years old or more will be expected to have 120,000 miles or more on it. A car with considerably more miles means that other parts of the vehicle are also more likely to be worn out or in need of replacement.
Check this list of cars with best mileage.
The condition that your car is in
If the purchaser plans to use junk car for parts or for future resale, then the car’s condition is important. If you have ensured that your car has received preventative maintenance throughout its lifetime, then the vehicle’s condition will inevitably be better. The bottom line is that vehicle maintenance extends the life of your car. Potential purchasers will appreciate a car that is in good condition, even if it is a junker.
The current price for scrap metal
Like the stock market, scrap metal prices tend to fluctuate. Earlier in 2020, scrap metal prices averaged $60 to $100 per ton. But this price varies based on location and the demands of the market. If scrap metal prices are higher, you can likely get more for your junker.
The weight of your car
As insinuated tied to scrap metal prices, the heavier your car (the more metal it has on it), the more it will likely be worth, especially if the purchaser plans to sell it for scrap metal (or you plan to do so).
The location of your vehicle
Certain parts of the country (and even within a specific state), scrap metal prices will vary. So, if you are looking to sell your junk car, do your homework to find out what various scrap metal purchasers are paying.
What type of scrap metal can be found in your junk car?
If your junk car is quite old with high mileage, you may be looking to sell it for the value of the scrap metal. The most valuable metals are copper, brass, silver, aluminum, stainless steel, gold, and lead.
Aluminum is quite commonly found in cars, especially older ones. Many car engines are made out of aluminum because this metal can withstand high temperatures. You may find copper wiring in the car too, which can be valuable. Lead is often found in wheel weights.
Though you won’t likely find gold in your car, the chances are that in an older car, you will find some platinum. The catalytic converter became standard on many vehicles back in 1975. By 1981, catalytic converts were required. These units are made out of platinum, which can also be worth some money.
The easiest way to sell your junk car
Believe it or not, it is not difficult to find a buyer for your junk car. A quick Google or Bing search will bring up plenty of options for you. Sometimes, however, you might not want to take the time to do the homework. This is where a company like Carbrain can help you get an offer on your junk car, fast.