If you want to sell a junk car, your first thought is likely regarding the limits to the amount of profit you can make. The truth is, the value of a junk car is dependent on several factors, some of which are unique to the vehicle itself, while others are ever-changing and never constant. To help better understand how much profitability your junk car has to offer, continue below and review some of the most frequently asked questions about the worth of salvaged cars.
What Influences the Worth of a Junk Car?
The most influential factors that determine how much a junk car is worth include the current market value for the vehicle, the make and model of the vehicle, the condition of the vehicle, how much repair it will take to get the car running again, and the location of the vehicle. However, the number one factor that influences how much a salvaged car is worth is the current metal market. The market is the ultimate decision-maker when it comes to the value of a junk car. Along with the current price of metal on the market, other factors, such as metal demand, import/export trade tariffs, the strength of the U.S. dollar, the strength of the Canadian dollar, and business overhead costs, all affect how much you can get for a junk car. Additional factors can include natural disasters, elections, political events, wars, and the general condition of the global economy.
Can I Sell a Junk Car With No Title?
A vehicle with a title is worth more because of the potential to resell, however, you do not necessarily need one to sell a car, especially if you are doing business with a scrap yard or junk car buying company. Although you can sell a junk car without a title, you will still need to provide alternative documentation to prove ownership of the vehicle. This might include the registration, insurance policy, or similar legal documents. You can also choose to replace a lost or stolen car title. See our blog, “How to Sell a Junk Car Without a Title” to learn where to get started.
How Much is a Catalytic Converter Worth?
Since catalytic converters are primarily manufactured from platinum, which is a highly-valuable precious metal, they are prized parts in a junk car. If a junk car is missing its catalytic converter for some reason, it will be appraised at a lower value than if it did have one. Catalytic converters also contain additional precious metals, like nickel, manganese, rhodium, palladium, and cerium. Depending on the type of catalytic converter, the values vary. Generally, their market values linger between $45 and $90, but can be as low as $8 and as high as $250 or more. See our blog, “Current Scrap Prices for Catalytic Converters” to view the market values from April of this year.
How Do I Sell a Junk Car?
The first step to selling a junk car is locating local buyers. Once you have a list of seemingly-trusted junk car buyers, begin calling each one and requesting a free quote. Some companies will require you to bring your vehicle in for an in-person evaluation, while other companies are equipped to provide virtually accurate estimations over the phone. From there, choose a Louisville junk car buyer that you feel offers the most cash and the best amenities, such as free pickup and towing. Just be sure to choose a company that will give you payment on the spot!
Who Will Pay the Most for Junk Cars in Louisville?
Call GC’s Junk Cars at 502-804-5605 to sell your junk car in Louisville and its surrounding areas. Not only do we accept all vehicles, regardless of age, make, model, and condition, we pay the highest returns for junk vehicles in Kentucky, all in cash! Just accept our offer and we will come pick up your junk car! No title? No problem! Contact us today to request a free estimate.