The good thing about having a junk car is that even if it is completely undrivable or no longer roadworthy, it will most likely have a bunch of components that make it worth something. This is why you need to take some time to determine what the car’s true value is before you decide to proceed with junk vehicle removal.
After all, you don’t want to end up selling your junk car only to discover that you failed to get the maximum value out of it. In this respect, it is essential to realize that the sales value of a junk car will usually be roughly based on the car’s diminished value. This essentially refers to the remaining difference between the total cost of repairs and the current market value of the same car.
It is for this reason that most junk cars are normally valued between a few hundred and a few thousand dollars. Once you have managed to determine the actual value of the car, you can then start to shop around to find an appropriate car-buying service like USCarJunker.
What Factors Determine The Value Of A Junk Car?
On average, most junk cars will usually end up costing about 20–40% of a car’s used value, but keep in mind that there are also several factors that play a role when it comes to determining the actual rate. Some of these factors include, where the vehicle is located, the car’s condition, the make/model/year, the current price of scrap, etc.
So, here’s a detailed breakdown of how these factors can typically affect your car’s junk value:
#1. Location: The proximity to a salvage yard, as well as the local market price of scrap, will often determine what you inevitably receive for a junk car. Furthermore, the popularity of certain vehicles can also end up affecting how much you can get out of them, with some car-buying services, auto repair shops, private buyers, and junkyards willing to pay more for certain models.
#2. Make, Model, and Year: The make, model, and year of a car always play a role in how much you are able to obtain, and the downside of this is that the market price will never be consistent. For instance, some cars come with more valuable resale parts, some are just in high demand, while some, like the SUV, are simply larger, which means that there are more metals to be recycled.
#3. Condition: If you have a junk car that is still in relatively good condition, you will be able to extract the maximum value out of it. This is because the car can either be restored by the buyer or offer them a significant amount of salvageable parts. On the other hand, if the car is completely wrecked and undrivable, then it will only be able to be purchased for its scrap value.
#4. Market Value of Scrap Metal: This is one of the most crucial factors that will affect the total value of your junk car because most salvage companies and junkyards will usually be purchasing cars for their metal value. This means that if the market price of scrap metal goes down, it is unlikely that you will be able to get a high payout, even if the car is in relatively good condition.
NB: It is important to keep in mind that these factors are not all that determine your junk vehicle’s value. For instance, some junk cars have rare components that may even be able to generate more cash than you would potentially get by selling the entire junk car itself. In this regard, you should take the time to do your research in order to ensure that you receive the most competitive price that you can get for your car.
Why Should You Sell Your Junk Car Today?
#1. Create More Space At Home
Having an old junk car sitting in your yard or garage will only end up consuming a significant amount of room that could be used for other things. For instance, you could even use the extra space in your yard for some outdoor renovations. And if the junk car is in the garage, you can sell it to make more space for storing possessions like sports equipment.
#2. Environmentally-Friendly Option
The problem with having a junk car sitting around and deteriorating is that they can often be an environmental hazard since most of these vehicles tend to seep toxic chemicals like brake fluid and oils that seep into the ground.
Moreover, when junk cars end up being abandoned in a landfill, they start to contribute to increased emissions and pollution. As such, it is more responsible to sell the vehicle to a scrapyard or cash-for-car service like USCarJunker that will restore the car or recycle its spare parts, which is more sustainable.
#3. Access To Quick Cash
If you need some quick cash to deal with an unexpected emergency like a car repair or medical bill, or even to pay for a short vacation, then selling a junk car can be a good strategy.
If you make use of a car-buying service like USCarJunker, you will be able to get an instant cash offer for your vehicle, thereby sparing you a significant amount of time, effort, and money trying to sell it yourself.
#4. Buy a New Car
Depending on the current condition of your used car, it may be possible for you to trade it in and shave off some of the cost of a new one at a local dealership. This will help make your life significantly more comfortable, and you won’t need to try and find a buyer yourself. However, bear in mind that this is only a viable option if the car is still in roadworthy condition, as most car dealers will not take a vehicle that has been totaled.
#5. Free Towing Services
One of the main reasons that most people delay getting rid of a junk car from their property is that the towing charges are often expensive. However, the good news about selling your junk car to a car-buying service like USCarJunker is that these companies often provide free towing.
This is because they tend to partner with local towing agencies to ensure that they can access sellers in any state. As a result, you don’t have to pay for anything out-of-pocket, thereby saving yourself a lot of money in the process.
Who Should I Sell My Junk Car To?
If you own a junk car and want to dispose of it and make some money in the process, there are a few options that you can consider.
The first option is to sell it privately to a car enthusiast online. Some car buyers may be looking to purchase a junker to restore it to prime condition as a hobby or even purchase it for its spare parts to use on another car. The benefit of this option is that you can make a good profit, but the downside is that finding a buyer can take weeks, if not months.
Alternatively, if the car is in really bad condition, selling it to a junk car service like USCarJunker is the best way to go. These services will give you an instant cash offer for any junk car, no matter its condition, so you are guaranteed to make some money.
However, the speed and convenience of these companies come at a price, as they don’t usually offer high amounts, so chances are that you will make less than you would if you sold it yourself.
A third option that you can consider if you don’t have any need for money but simply want to get rid of it is to donate the car to charity. And while you may not receive any money, the benefit is that you will be doing a good deed, and you will also be able to benefit from a small tax deduction in the process.