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.

What You Need to Know About Auto Loans and Total Loss Cars

Posted on June 14, 2019 by gcsjunk

If you are in the red with your car loan, you can add yourself to a long list of other car owners in Kentucky. It is not uncommon as you think to receive a low settlement check from your insurance provider when your auto loan vehicle is totaled. If you recently totaled your car, and you still owe money on your car loan, you may be in for a rude awakening. Likewise, if you already made a claim with your insurance company, and received a check that did not seem very fair, you may also be in for some bad news.

Continue reading to learn the most important points about auto loans and total loss cars, including what your options might be if you still owe on your loan or got a low settlement.

Actual Cash Value and GAP Coverage

When it comes to your automotive coverage, your vehicle is probably insured at “Actual Cash Value”, which estimates the value of your car at the time of loss. Such assessments consider depreciation, market value, and more. So, if you were not able to make at least a 20% down payment on your car, you should have been encouraged to opt for GAP insurance, which basically protects against the depreciation loss of a car that is more than the amount of money you owe a creditor on that car. This means if you had a GAP policy, it would pay the difference between what the car is worth and what you owe.

For example: you purchase a car with a 5 year automotive loan. After one year, you total the car. Your car is now worth less than what you still owe, and the insurance check you receive for the accident claim will not cover the amount you have left on the loan because the majority of the payments you’ve made over the last year went straight to interest, and the car depreciated significantly.

This situation happens every day to millions of car owners across the country. If this happens to you, your best option would be to forfeit your loss and consider GAP insurance coverage on your next vehicle purchase. If you have an old auto loan that you are still paying off after totaling a car, avoid combining it with a new auto loan. This is a setup for many problems. Furthermore, it is important to know that warranties are not covered in a total loss situation, so you will be obligated to fulfill your financial duty even though you are no longer have the car.

Where to Get Advice on Total Loss Cars

Call GC’s Junk Cars at 502-804-5605 if you have a totaled car in Louisville and its surrounding areas. Not only do we buy 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.

Louisville Junk Car Buyers 502-804-5605

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?

How to Get Paid for a Totaled Car

Posted on May 17, 2019 by gcsjunk

Whether or not a vehicle is deemed a total loss depends on both the extent of damage and the overall value of the vehicle. Without using any confusing insurance legalese, a total loss vehicle is one that cannot be repaired and operated, safely. Basically, if the cost to repair a damaged car exceeds the actual value of the car, then it is totaled, and thus, a total loss.

Now then, if this has happened to you, there is no need to worry. There are plenty of opportunities to get paid for your totaled car. Continue reading to learn the top two most promising methods of doing just that!

Totaled Car Buyers Kentucky — Louisville Junk Car Buyers 502-804-5605

Insurance

Your first option is to make a claim with your insurance carrier; that is, if the car is in fact, insured. In the case that you chalk your car up to the insurance company, you will likely receive a check for the current market value of your vehicle, minus depreciation rates and more. This will vary depending on the policy, carrier, vehicle model, and more.

An insurance adjuster will examine your car report once it is inspected by a mechanic, and determine how much your vehicle was worth before it was totaled. Of course, everyone’s insurance policies are different, so it is important to check firsthand with your carrier to learn the conditions and coverage of your policy. Collision may or may not be covered under yours.

No Insurance

For vehicles that are not insured or fully-covered under a policy, they can be sold, either privately or to a scrap yard. Local junk car buying companies are a good route to take since they pay cash on the spot and tend to haul away your car for free. Just be sure you choose a qualified and reputable business, and not one that is more the take-your-money and fly-by-the-night type.

Where to Get the Most for Junk Cars in Louisville

Call GC’s Junk Cars at 502-804-5605 if you wish to sell a junk car for cash 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!

How to Sell a Junk Car in Louisville

Posted on January 31, 2019 by gcsjunk

When you have a junk car on your hands, your best option is to sell it to a local junk car buyer for cash on the spot! Continue below to learn the easiest and most profitable approach to selling a junk car in Louisville, Kentucky.

First – Find a Reputable Junk Car Buyer

If you want to make the most money from selling a junk car in Louisville, you must first make the right choice of buyer. There are dozens and dozens of fly-by-the-night junk car buying companies that do not offer responsible nor honest service. It is important that you filter out the unprofessional ads and choose a local and experienced Louisville junk car buyer who will provide the full and fair amount of money you deserve for your junk vehicle. In addition to honest quotes and payouts, look for a company that can also provide convenient customer amenities, such as free haul-away and cash payments.

Second – Locate Proof of Ownership

In addition to finding a local and reputable junk car buyer, you want to begin the junk selling process by locating the title or proof of ownership for the vehicle. If you cannot find the title of the vehicle, you may be able to prove ownership other ways, such as the car’s registration, insurance, and more. Contact a local and trusted Louisville junk car buyer for details on how to sell a junk car without a title. In fact, stay tuned for next month’s blog explaining exactly how to do this!

Next – Contact Your Choice of Buyer for a Quote

Once you have chosen a list of potential junk car buyers you are interested in doing business with, your next step is to contact each one and request a free, over-the-phone quote. Now, you have two options here: you can both trust and accept the phone quote, or you can choose to bring your junk car to the complex to be weighed electronically. Your choice depends on the quality of your junk car. The more common option is to accept the phone quote since most junk cars fit into a standard weight bracket for scrap metal. However, if you have a 2010 Lincoln Navigator that has been totaled, you might want to bring that in for on-site evaluation. Trust the advice of your licensed junk car buyer if you are unsure.

Last – Accept the Offer and Schedule a Pickup

In the case that you have accepted the phone offer, you then would just need to schedule a time for the junk car buying company to collect your vehicle. Hopefully, you have chosen a buyer who provides free pickup with their own, in-house tow truck; otherwise, you will have to pay out-of-pocket to have your junk car transported to their lot. Once the tow truck operator arrives to haul away your junk car, simply hand them the documents requested by the buyer, and they will hand you CASH ON THE SPOT! You may receive a check in the mail instead, if you have chosen a company that does business this way.

GC’s Junk Cars

Category Archives: Sell a Junk Car