Does Junk Car Weight Determine Scrap Value?

When it makes more financial sense to haul your vehicle to the scrap yard rather than the auto repair shop, your vehicle has come to the end of its life, which means you now have a junk car on your hands. In this case, you would be wise to sell it to a local junk car buyer for an instant profit. Right now, scrap metal is a booming enterprise, as it helps to reduce our need to mine for new ores, thus preserving Earth’s natural resources and reducing harmful factory emissions produced by the metal refining process. This means that auto salvagers are eager to take junk cars and any other type of motorized bulk scrap off the hands of consumers.

So how much are junk car buyers willing to pay for such scrap? Then answer is not clear-cut. There are various factors that influence the total profit you can make from selling a junk car, one of which is weight. Continue below to learn how weight can affect your junk car quote, and who to trust for the highest payouts in Louisville.

Louisville Junk Car Buyers 502-804-5605
Louisville Junk Car Buyers 502-804-5605

Junk Car Worth

The total worth of a junk car will vary greatly among consumers, and also among buyers. Buyers can vary since some are really inexperienced and small, while some are more established and retain better technologies and resources to develop accurate estimates. Junk cars will vary in value because no junk car is the same; they are not the same in terms of condition, age, make, and model. For this reason, one junk car might be worth more than another. Keep this in mind when having your junk car evaluated.

Junk Car Condition

The first, and most influential factors used by scrappers to determine to worth of a junk vehicle is the condition of a car. Does it have all of its parts? Does it still run? Is it a new model? These questions and more will tell a junk car buyer the current market value of the vehicle, and so will certified resources like Kelly Blue Book. Once this value is determined, a junk car buyer will factor in the vehicle’s weight.

Junk Car Weight

The second most influential factor used to determine scrap value of a junk car is the metal market. The higher in demand a metal is, the more it is worth, whether per gram, ounce, pound, or ton. In turn, this means that the total weight of a vehicle, minus the weight of non-metal components, influences its scrap metal worth. The more metal there is in a junk car, the higher its value. Reputable junk car buying companies retain advanced technologies, such as electronic bulk weight scales, ride-on weight platforms, and XRF analyzers, to properly evaluate the quantity and type of metal in a junk car.

Get an Accurate Junk Car Estimate in Louisville

Call GC’s Junk Cars at 502-804-5605 to sell your junk car in Louisville and its surrounding areas. We make the junk car selling process simple and hassle-free for our clients by offering a wide range of amenities and freebies. Not only do we eliminate the “middle-man” since you are selling directly to a scrap yard, our company has an in-house tow truck that will come straight to you and haul away your junk car at no additional charge. All you have to do is pick up the phone, contact us, and accept our offer! Most of the time, we can even do SAME DAY BUSINESS!

Louisville  Junk Car Buyers 502-804-5605
Louisville Junk Car Buyers 502-804-5605

Can I Get $500 For My Junk Car?

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.

Louisville Junk Car Buyers
Louisville Junk Car Buyers 502-804-5605

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.

Louisville Junk Car Buyers 502-804-5605