If you’re thinking of scrapping your damaged or outdated car, you aren’t the only one. Over one million vehicles are crushed every year in the UK, but not everyone can profit from scrapping their cars. But, you can do so with the knowledge of which factors determine your scrap car value.
As each scrap car is different, the value depends on the following factors:
1. The Model, Make and Year
Identifying the model and the year of making it can help determine what value your car holds. For example, if it’s a commonly driven car such as the Ford Fiesta or an Audi— the car parts are more likely to be valued more since most people might be looking for replacement parts. Or if your junker car is an everyday car, it might turn out to be much more helpful than a unique one.
The year affects the scrap car value because the materials used for making cars haven’t been the same for the past ten years, or maybe for the past fifty years. It has constantly been changing to make the car more efficient to use. For example, vehicle manufacturers are now more environmentally friendly than ever.
While some cars from specific years can have heavy metal work on them, others might contain less aluminium and steel. And that’s why it plays a significant role in determining scrap car value.
2. The Current Rate For Scrap Metal
As it all depends on the supply and demand for aluminium and steel, scrap metal price depends from year to year. For example, prices will be low when aluminium supply is high and demand is low. But, it’s not the only thing affecting the price— you should also keep an eye out for the local market.
Even though this isn’t the number one factor that comes to a regular car owner’s mind, it dramatically impacts the price.
3. The Vehicle’s Condition
The condition of your vehicle plays a huge role in determining your car’s scrap value. Not only will it determine what the value is, but it can give you an idea of what the buyer intends to do with it. Are they going to restore the vehicle to a working condition and re-sell it? Or maybe they will take apart the car and sell the spare parts?
Let’s say that your scrap car has a couple of issues; you can try repairing it if you know that it will be worth a higher price once fixed. If the marketplace places the value for your car’s model at a top position, you might be in for more cash than you usually would. However, it’s best to consider what the buyer is willing to pay even after the repairs.
On the other hand, if you have a dead car and interested in making more cash instead of just sending it off to a scrap yard, you’re in luck. One way you can do this is by stripping the car down to its smallest usable part. Once that is done, you can start selling them online or auction them to your local market or a local scrap yard.
4. Demand For Car Parts
This shouldn’t surprise most car owners as there is always a need for car parts. As mentioned before, even if you have an old scrap car that isn’t worth repairing, it still has value. From the battery to the radio/stereo system, every functional part of the car is worth something. It can be removed and recycled for better use. We can use the marketplace as a guide to learn exactly how high the demand is for particular vehicle parts. But, we have to keep in mind that the higher the demand, the higher the price.
For example, people with the same car model as yours will always need a replacement for something. If your scrap car is a rare one, demand will still be high since, well, it’s rare.
5. The Location of Your Car’s Making
The location of where your car was manufactured matters a lot when determining how much your scrap car is worth.
The rate for scrap metal isn’t the same for each region. Likewise, the market rate for a car and its part isn’t based on a single model. Each area chooses their specific vehicle, and based on the popularity, the rates are decided.
Another location-based factor that impacts the scrap car value would be where you are willing to sell your junk car. The distance between you and the junk buyer will determine how much extra the buyer is willing to spend for transporting the vehicle and its parts. Luckily for you, even if you’re not near a scrap yard or car scrapping service, some of your local scrap car companies might offer free collection services.
What Do You Think?
These are just some of the ideas that we thought would be pretty handy for people seeking which factor determines their scrap car value! If you feel that you might have additional valuable tips for the readers, do leave us an email!
On That Note, If You’re Thinking of Scrapping Your Car
Contact us! We provide car scrapping services so smoothly that you’ll find the process rather too good to be true! To know what your car is worth, get an instant quote.
Here’s our process:
You can either contact us directly or send us your information by inboxing us. You’ll get a free quote instantly without going through the hassle of a dealership. Once we offer you a quote and it’s accepted, you can start gathering all the necessary documents ready.
Afterwards, YOU get to pick a date whenever it’s suitable for us to come, inspect the car and its condition. Once all the verification has been done, we’ll hand over the check! All done with just three steps!
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