National and International Factors That Affect the Price of Steel

Posted on July 29, 2019 by gcsjunk

When it comes to the price of metal on the U.S. and global markets, the formulas are highly complex, and the factors that influence the changes and fluctuations are ever-changing themselves. However, after various on-going studies and research, the World Steel Association suggests that they know the top national and international factors that influence the value of market steel.

These factors should be important to you as someone who is interested in profiting off of scrap steel sales, or simply wishing to make some quick cash for a junk car or motorized equipment. By taking these factors into consideration, you can better predict how much you might profit from your scrap steel.

Continue reading to learn these factors, as well as, where to get the most money for metal recycling in Kentucky.

National Factors That Affect Steel Prices

As suggested by the World Steel Association and various other economic metal organizations, the top factors that influence how much steel is worth include the strength of the U.S. dollar, the current demand for steel (regardless of application or product), and trade tariffs (government price lists and guidelines on imports or exports).

International Factors That Affect Steel Prices

Another proposal made by the World Steel Association and various other economic metal organizations is that the price of steel is also greatly affected by certain global factors. The top international trading factors are suggested to include natural disasters, wars, serious political events, and most importantly, the general condition of the world economy.

Items That Contain the Most Steel

If you are looking for scrap steel to sell, your best bet is sheet metal or motorized commodities. Cars, trucks, vans, motorcycles, RV’s, bulldozers, forklifts, golf carts, tractors, and anything else that runs (or used to run) on fuel is going to have a lot of steel components. These items will get you the most steel, and therefore, a higher profit. Regardless of age, make, model, or condition, a scrap metal buyer will accept any motorized commodity.

Where to Sell Scrap Steel

If you are looking to make the most cash from selling your scrap steel, the metal market is not the most important factor, but rather, finding a reputable scrap metal recycling center to do business with. By choosing an established, experienced, and reputable scrap metal buyer in your town, you have a much better chance at recovering a full and fair payout for your scrap. Best of all, most professional scrap metal dealers will come through and collect your scrap for you, free of charge; unless you wish to visit the complex for weigh-ins and metal analysis.

The Kentucky Scrap Metal Buyer to Choose

Call GC’s Junk Cars at 502-804-5605 to sell a junk car in Louisville and its surrounding areas. Not only do we accept all vehicles, regardless of age, make, model, and condition, we also payout the highest returns for junk vehicles in Kentucky. Just accept our offer and we will come pick up your junk car! Contact us today to request a free estimate!

5 Things You Need To Do Before Selling a Junk Car

Posted on July 11, 2019 by gcsjunk

If you have a junk car to sell, you are one lucky person! Junk cars are terrific sources of metal, which is 100% recyclable and can be reprocessed over and over again. And the demand metal-based automotive scrap makes your junk car a reliable financial asset, regardless of make, model, age, or condition! By selling your junk car, you are not only getting ready to make an attractive profit off of a piece of junk that has been taking up too much space for too long, you are also contributing to the preservation of our natural resources by supporting the metal recycling enterprise!

As you can see, selling a junk car is a wonderful and profitable venture; just be sure to take the proper additional steps before you hand over your asset for good. Continue reading to learn the 5 things you should do prior to handing off your junk car.

Follow These Steps Before Handing Over Your Junk Car:

❶ Find the Best Junk Car Buyer – Be sure to choose a reliable and reputable Louisville junk car buyer who has been in business for a long time. There are countless scammers and rookies in the industry that operate against best business ethics and moral practices, making them incapable of delivering the fairest payout for your junk car. Furthermore, choose a junk car company that cuts out the middleman, so you can put more cash in your pocket. Such companies have less overhead, which means they are equipped to pay more for junk vehicles.

Now that you have a junk car buyer you can trust for an honest and fair offer, here’s is what to do when you are awaiting for them to arrive and collect your junk car:

❷ Remove the License Plate – Be sure to remove your license plate. In some case, you might need to return your plate to the DMV. In other cases, they are nice to have for décor and art projects. Just don’t forget to remove it before the junk car tow truck shows up.

❸ Remove All Personal Belongings – Along with your license plate, be sure to remove all other personal items, including other plates, steering wheel covers, seat covers, middle consul items, paperwork, rear-view mirror décor, CD’s, cassette tapes, phone chargers, and anything else that belongs to you.

❹ Cancel Your Registration With the State – Remember to cancel your registration with the state. Do this as soon as you decide to accept the junk car buyer’s offer. Forgetting this step can lead to tedious and exasperating remedies, meaning a lot of phone calls, holding, and emails with the DMV.

❺ Remove the Car From Your Insurance Policy – After you cancel your registration, be sure your junk car is not being insured any longer. Contact your insurance company and have the vehicle removed from your policy as soon as you finish with the BMV.

Call Our Louisville Junk Car Buyers Today!

Call GC’s Junk Cars at 502-804-5605 if you have a junk car to sell in Louisville and its surrounding areas. Not only do we accept all vehicles, regardless of age, make, model, and condition, we also payout the highest returns for junk vehicles in Kentucky. Just accept our offer and we will come pick up your junk car! Contact us today to request a free estimate!

Can I Get $500 For My Junk Car?

Posted on June 28, 2019 by gcsjunk

Probably not. A decade ago, you wouldn’t have had much trouble selling a junk car for a $500 payout, but times have changed, and there are many reasons why an auto salvage yard can no longer afford to pay $500 for a junk car. Continue reading to learn what influences the cash value of your junk car, as well as, how much you can expect to earn for yours in Louisville.

Changes in Metal Prices

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.

Take Steel for Example

For instance, junk cars are primarily sought after for their steel, as steel is the majority of metal inside a vehicle. In 2014, the price of steel in the United States dropped from $400 per ton, to $300 per ton, and then dropped another $80 by the end of 2016. As a result, junk car companies could no longer afford to pay $500 for a junk car. In fact, it was just not financially possible. Not only does a junk car buyer pay you for your car, they must also pay for the car to be crushed, dismantled, and distributed. On top of this, they also have to cover their company overhead fees, like paying their employees, rent, taxes, and more.

Current Prices for Steel

The current price for #1 unprepared steel is $110.00 per ton, and #1 prepared steel is $150.00. At the beginning of this year, the price of steel dropped 0.16%, or 6 Yuan/MT. Furthermore, the 2018 steel tariffs had immediate effects on steel prices. Also, a brief surge in Chinese steel production also contributes to the price fluctuations.

Get the Best Deal for a Junk Car in Kentucky

Call GC’s Junk Cars at 502-804-5605 if you want to sell a junk car in Louisville and its surrounding areas. Not only do we accept all vehicles, regardless of age, make, model, and condition, we also payout the highest returns for junk vehicles in Kentucky. 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.

3 Reasons Why a Car is Never Wasted

Posted on May 29, 2019 by gcsjunk

Whether you total a car, or have an old rusty chassis in the backyard shed, you might think your asset it wasted. But the truth is, they are indeed an asset, as they can be dismantled and sold for cash at your local scrap yard! Furthermore, cars are primarily made of metal constituents, and since metal can be recycled over and over, a vehicle is never wasted.

Continue reading to learn all the applications for junk cars in the automotive and metal reprocessing industry.

❶ Junk Car Parts

When a vehicle is junked, it still contains its useful parts; even if the most vital or valuable ones are missing or damaged. Some automotive parts can be restored, and then sold on the market as refurbished auto parts. Other parts are dismantled and separated into categories of metal. Different auto parts have different values, depending on their type of metal, the quantity of metal, and the current market prices for metal.

Although you can choose to dismantle a junk car on your own, either yourself or by hiring a private mechanic, but this can be tedious and expensive. However, selling individual scrap automotive parts is sometimes more profitable than selling a junk car as a whole.

❷ Metal Recycling

Another big industry that seeks out automotive scrap is the metal reprocessing industry. Metal recycling companies will accept junk vehicles regardless of condition. They generally dismantle them for their metal constituents, melt down the metals according to type, and then remold scrap metal into sheets, shapes, and other commodities for metal fabrication and construction applications. Such companies will accept scrap metal donations, including junk cars and motorized vehicles.

❸ Cash for Cars

One of the most promising ways to make sure your junk car doesn’t go to waste is to turn it into a profit! You can choose to sell your junk car as a whole to a local scrap yard or junk car buying company in your town. Many companies offer free pickup and haul away service, and some can even do business without a title. However, it is very easy to get taken advantage of in this industry. So be sure to choose a reputable and licensed Louisville junk car buyer to do business with.

Who Can You Trust for the Best Junk Car Offers in Louisville?

Tips on How to Make the Highest Profit for a Junk Car

Posted on April 23, 2019 by gcsjunk

When it comes to selling a junk car for cash, or any other type of vehicle for that matter, be sure to know the right steps to get the most for your money. It’s helpful to learn how to sell a junk car without getting into a bind, or making a bad deal. Knowing your steps ahead of time can benefit your financial gain and your car selling experience tremendously.

When it’s time to sell your junk car, rely on these tips to get the most cash!

Assess Your Vehicle

When you have finally decided to get rid of your junk car, you must first complete a brief assessment of the vehicle. It is crucial to establish this analysis to determine the current status of your car. Once this is done, it is suggested to have the car assessed and inspected by a professional mechanic to more accurately distinguish the degree of value for your vehicle. This is not mandatory, but it can give you a leg up on negotiating prices with a potential buyer. This is because the better condition a car is in, the more money it’s worth.

Find a REPUTABLE Junk Car Buyer

Once your initial self-assessment is completed, it is time to start calling around to various junk car buying businesses. It is important to contact multiple businesses, even if they are not in your area. This type of research will give you an idea for the going rate of the junk vehicle you have and the condition it is in; then you can confidently distinguish between fair offers and potential scams.

Furthermore, there are particular things you want to look for when you call these companies. Ask them about their towing policy. Do they tow junk cars for free? Since most reputable junk car buyers offer free tows for junk cars, it could be a bad sign if they charge a fee to pick up your vehicle. Also, check for licenses, certifications, references, websites, and online reviews, which can all help determine which company can offer the best deal and who can be trusted the most.

Locate Your Car Title

Last, you must find the car title to your junk car. If you are not the title holder, then you may not be in position to sell the car at all. If you do not have the title but you are the owner of the vehicle, you must contact the local BMV for information on replacing or applying for a duplicate car title. Most junk car removal companies and “cash for cars” services prefer to purchase junk cars with the title. In some cases, junk car buyers don’t mind purchasing cars without titles. Don’t have a title? Read our blog, “How to Sell a Junk Car Without a Title” to learn what your options are

Sell Your Junk Car

Once the title is located, you are ready to sell your junk car. From here, simply choose one of the companies you contacted earlier and schedule a pick up time for your car. The tow technician will have you sign over the car title and then hand you the money. They should be able to give you cash on the spot, but some companies hand out checks. Once they leave with the signed title, you are no longer the legal owner of the vehicle.

Who Pays the Most for Junk Cars in Kentucky?

GC’s Junk Cars of Louisville!

Louisville Junk Car Buyers 502-804-5605

Current Scrap Prices for Catalytic Converters

Posted on April 15, 2019 by gcsjunk

Catalytic converters primarily manufactured from a precious metal called platinum, but can also contain several other precious metals, such as nickel, manganese, rhodium, palladium, and cerium. Precious metals are rare, naturally-occurring elements with high economic value, meaning they can render a decent profit on the market.

If you have junk vehicles, or scrap catalytic converters, you are sitting on a pile of profit! Although scrap metal prices and values change almost on a daily basis, any kind of asset containing precious metal will get you some fast cash at your local junk car buying business.

Continue reading to learn what the current scrap prices are for catalytic converters, and who to call for the highest offer in Kentucky.

Scrap Prices for Catalytic Converters:
(as of April 13^th, 2019)

AC Cats = $63-$78/each

Aftermarket = $8/each

Bead = $25-$35/each

Diesel = $5.00-$40/each

Domestic = $51-$62/each

DPF = $15-$450/each

Ford = $68-$82/each

Ford Pre-Catalytic = $22-$28/each

Foreign Pre-Catalytic = $32-$45/each

Half Catalytic Converter= Varies

Large Chrysler = $78-$97/each

Large Foreign = $117-$250/each

Large GM = $88-$117/each

Large Wire = $36-$48/each

Medium Foreign = $105-$130/each

Pre-Domestic = $24-$34/each

Regular Breadloaf = $87-$100/each

Small Chrysler = $57-$71/each

Small Foreign = $82-$97/each

Small GM = $83-$97/each

Small Wire = $13-$17/each

Wire Pre-Catalytic Converter= $7-$12/each

Where to Sell Your Junk Car in Kentucky

Top 2 Precious Metals in Junk Cars

Posted on March 28, 2019 by gcsjunk

Precious metals are naturally-occurring elements with high economic value. Common precious metals include gold, silver, platinum, titanium, tungsten, and cobalt. In the junk cars market, precious metals play an important role since they have higher economic value compared to the majority of metals found in cars, like steel and iron. If you have a junk car at your discretion to sell, you may just want to move forward with a deal while metal prices are good. That is because junk cars, although “scrap”, may still contain precious metals.

Continue reading to learn which precious metals are most common in automobiles, and how much you can expect to get for them in terms of a cash payout from a local junk car buyer.

💿 Platinum

Platinum is one of the most known and obvious precious metals in vehicles because of the catalytic converter. Catalytic converters are mostly comprised of this precious metal, but might also contain various others, such as palladium and, rhodium. Furthermore, catalytic converters retain other valuable metals, like ceramic, or even metal foil and shielding. Like all metal, platinum is priced by weight on the market, and changes depending on various influences, including changes in national and international economics. Right now, platinum is worth around $850 or so, depending on the grade.

But don’t think you are going to get $800 for just this piece alone, and then more for the scrap metal in your car; it doesn’t work that way. The reality is, a standard catalytic converter usually has between 3 and 7 grams of platinum group metals, which means that the average amount of platinum inside ranges between 0.10 and 0.24 ounces. So you can expect your catalytic converter to be worth between $80 and $100 or so.

📀 Gold

Gold is another common metal found in junk cars, especially if they are newer models. Gold-plated fingers in computer circuit boards are the first place scrappers look for gold in a junk car. Computer systems like GPS, airbag units, stereos, cameras, DVD players, and electrical systems, use computer boards that may contain gold; they may even contain silver and other precious metals too!

Right now, gold is worth around $1,300 per ounce. But do not expect to recover hundreds of dollars’ worth of gold in a single junk car; the average amount of gold per vehicle is around a few grams or so. Nonetheless, gold in junk cars still makes junk cars that much more valuable!

Sell a Junk Car Today!

How Much Money is My Junk Car Worth?

Posted on March 11, 2019 by gcsjunk

When you are ready to get rid of your junk car, your first thought is likely about its economic worth. The best way to estimate how much money you can expect to get for your junk car is to learn more about the industry. By knowing what junk car buyers are looking for and why can help you understand the probable total value of your junk car.

Continue reading to learn how junk car values are estimated, and how to get the most money for your asset.

Junk Car Values

The formula used to assign a dollar value to a junk car is pretty straight forward. You see, junk car buyers purchase junk cars and scrap them for the metal. So the current market values for metal, combined with the total weight of the vehicle and the quality of metal within it, are the primary factors that will affect how much a junk car is worth.

In order to determine this value, junk car buyers use a variety of techniques and approaches. The more professional businesses will retain innovative technologies, such as XRF analyzers and electronic platform weight scales, to ensure a more precise evaluation. Other business might rely on a mathematical formula that calculates current metal values with the contents of the junk car.

Local Junk Car Buyers

To get the highest payout for your junk car, it is vital that you choose a reputable and experienced junk car buyer in Louisville. They will have the best resources, which means they will be capable of providing accurate assessments and fair payouts. They should also be able to provide flexible pickup and haul away service at no extra charge to you.

So where can you find such a company in your town? Start with references, and then refer to your community’s business recommendation portals, online. If you live in Kentucky, you are in luck! See our blog, “How to Sell a Junk Car in Louisville” to learn just how easy it is to get started! Or skip straight to the finish line and simply call GC’s Junk Cars at 502-804-5605 to sell a junk car for cash on the spot!

GC’s Junk Cars

Here at GC’s Junk Cars, we are a local auto salvage yard in Louisville that offers the highest cash payouts for junk cars and motorized commodities in Kentucky. For more than 2 decades, we have buying and recycling junk vehicles and scrap metal, all while paying sellers cash on the spot! Call 502-804-5605 to request a free estimate, anytime.

What is a Junk Car?

Posted on February 26, 2019 by gcsjunk

If your car was just involved in a serious collision or accident, you may be asking yourself, “what now?” Well, your first step is to contact your automotive insurance carrier to review the details of your particular policy. From there, an adjuster will determine whether or not your vehicle is a “total loss”, which is a fancy surety term for a junk car. If you do not have car insurance, you can still get rid of your car, and even make some money at the same time.

Continue reading to learn how an insurance company defines a junk car, and what your options are for selling on, whether insured or not, here in Louisville.

Total Loss Vehicles

It’s actually pretty simple. Total loss vehicles are simply cars that are too far damaged to be worth repairing. The more technical definition is, “a vehicle that costs more to repair than the actual cash worth before the damage.” So, to explain in plain language, if your vehicle is worth $4,000 before the accident, but then costs $5,500 to repair it back to the condition it was in before the accident, it would be deemed “totaled.” There are some cases in which this does not apply, such as brand new Luxury vehicles with values much higher than average or older cars.

Here is Another Example:

If your car is worth $7,000 but the cost to repair it back to the condition it was in before the damage exceeds that amount, your vehicle would be deemed a total loss because it would not be worth repairing it for that amount of money. Instead, it would make more sense to simply cash in the insurance money under your policy terms, and purchase a new vehicle.

No Insurance?

If you do not have auto insurance, your totaled car can still reap you a nice profit. All you have to do is find a reputable and experienced Louisville junk car buyer that offers cash payments and free haul away. Just be careful choosing a buyer to work with; in the junk car industry, there are thousands of unethical, unprofessional, fly-by-the-night businesses that will rip you off. Always choose a company that has professional grade equipment, technologies, and experience. This shows that they are a trusted junk car buyer that does good business.