If you have a vehicle that is past its prime, needs extensive repair, or just won't run, selling the vehicle to a junkyard could be a great option. Salvage car buyers routinely invest in junk cars that they can disassemble and sell for parts or scrap metal.
Many factors are used by salvage car buyers to determine the overall value of the car. Become familiar with these factors so that you will be better prepared to negotiate the next time you need to junk a vehicle.
1. Tire Condition
The condition of the tires on your junk vehicle will have a significant impact on its value. Salvage buyers are looking for vehicles with components that can be sold for a profit. If your junk vehicle has quality tires, leave them on the car when you sell it. The scrapyard can turn around and sell these tires to another driver looking for discounted auto parts.
You may not get as much money for a vehicle with shredded tires, but you should keep these damaged tires on your vehicle as well. Junk car buyers can sell shredded tires to a recycling facility for profit.
2. Your Location
The location of your junk vehicle will also play a role in determining how much a junkyard is willing to pay. The closer you are to a scrapyard, the more you can expect to receive for your junk car. Vehicles that are located in remote areas must be transported to the scrapyard, which usually means paying for the services of a tow truck.
Be sure to find the closest possible salvage car buyer when trying to sell a junk vehicle for maximum profit.
3. Scrap Metal Prices
Once all of the usable mechanical components have been stripped from a junk vehicle, the frame and body are recycled as scrap metal. Scrap metal prices are constantly fluctuating. Since salvage car buyers know that they will only receive market value for the scrap metal they deliver to a recycling facility, these market fluctuations can influence the value of your old car. Watch the market closely and try to sell your vehicle to a salvage car buyer when scrap metal prices are highest if you want to maximize the value of your junk car.
Getting rid of a junk car is simple when you partner with a salvage buyer. Take the time to learn how these buyers assign value to junk cars so that you will be able to get top dollar for your old car.