Is your old vehicle ready for the scrap heap? When it is time to retire your trusty car, sometimes scrapping it is your only option. However, it can be hard to know the value of a vehicle that is destined for the junkyard. This comes down to the value of base metals in the car and their current market value. Read on to find out how much is a scrap car worth and how to get the best sale from your vehicle.
How Much Is a Scrap Car Worth?
There are a number of factors that determine the value of a car though some may only have a marginal impact. When you are selling a scrap car, you need to concentrate on three main points.
The first is the market price. This is the value of its material worth on the current market. This changes due to the second factor, industrial demand.
Industrial demand depends upon what industries and businesses need in regard to certain types of commodities. For example, the recent boom in green energy has seen a demand for lithium and silver increase. If innovation occurs that speeds up industrial growth that requires the materials in your car, higher prices can be demanded.
After this, global events are a determining factor. Perhaps trade has ceased in countries that supply steel, such as war or global pandemics.
What Materials Are in a Scrap Car?
While there are a number of materials in a scrap car, there are really only four that will determine the scrap car’s worth. These are aluminum, steel, copper, and platinum.
Aluminum tends to trim your car and is on the rims, doors, hoods, and engines. Steel makes up most of your scrap car. It is used in most of the chassis, frame, and engine.
Copper tends to be in the engine and electrics. Generally, copper has risen globally over the last few years, steadily increasing in price.
Lastly comes the most expensive of the metals, platinum. It is found in the catalytic convertor of the car, though this is only in very small amounts.
How to Sell a Scrap Car
The quickest and easiest way to sell a car for scrap is to call a company that deals in selling a scrap car. Very often, they will be able to give you a quote over the telephone depending on the car’s model, make and age. For more info on auto salvage companies follow this link.
If you really want to get the best price, you may try visiting local junkyards to get quotes. However, they may want to see the car itself. Transporting the vehicle around, particularly if it is not running, can be more hassle than it is worth.
Presently you can respond to the inquiry “What amount is a piece vehicle worth?” don’t delay in getting a quote. Many people put off scrapping cars, but the longer a car is left the more it will devalue. If rust sets in, or market prices change, you may not get the deal you could have.
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