Annually, there are 13 million new cars that are produced in the US and Canada. And because of this, there are a lot of junkyard businesses like Max Cash for Junk Cars that have sprouted. All those materials are the main reason why we buy junk cars. Cars that are scrapped are recycled to create the materials needed to build new ones. When scrapping your car, it can be confusing to know if you are getting a fair price for your trouble. You might think that by adding the value of raw materials and usable parts, a big check is in the offing. However, you get disappointed when it is just several hundred dollars. Here is why.
We Buy Junk Cars Because Of Scrap Metal
Supply and demand has a direct effect on the price of steel. The highest it got was around $800 per ton. However, in 2016 the price dropped to less than $400 per ton. The reason being is China has gone from manufacturing to a country with high living and environmental laws. The fact that they account for a big chunk of the steel pie, prices are going down as a result.
Drained and Stripped
Before we buy junk cars, we will have to drain it of its fluids and remove all unusable parts. This is quite labor intensive and is reflected in the money you get when you scrap your car. If you want to get more value for your car, try removing the parts yourself so you can sell them to a used spare parts dealer. Parts like GPS, radio, CD player, batteries, tires and even the air conditioner compressor can net you a few hundred dollars on top of the junk value of the car.
Cost of Moving the Vehicle
There are several ways by which you can have the car moved to the junkyard. For instance, having it towed at your expense, use roadside assistance or insurance coverage to mitigate the cost and find a junkyard that provides free towing.
State of Decay
Eighty percent of a vehicle may be recycled. This means that each part potentially has value. A lot of people make the mistake of waiting too long before they decide to call the junkyard. Some dream of the day they have the money to repair the car but end up prioritizing more important stuff. If you have a broken car in your garage don’t wait for the last minute to sell it we buy junk cars right away. Each day it sits there, the parts deteriorate. Don’t wait until the only value left is scrap value.