What Happens to a Junk Car After it is Sold to a Salvage Yard?

What happens to a junk car after it is sold to a scrapyard in Louisville? The answer is really exiting! Not only are you making fast cash by selling your car for recycling, but you are contributing to one of the most important global environmental initiatives: preserving our natural resources and boosting our economies!

Continue reading to learn the basic process of automotive recycling, plus where to take your junk car for the highest payout in Louisville!

Need Louisville Auto Salvage? Call 502-804-5605 Now!
Need Louisville Auto Salvage? Call 502-804-5605 Now!

Louisville Junk Car Selling Process

Most people don’t know what to do with their old, run-down cars. They might try to trade them in when they buy a new one, but usually that doesn’t work out too well. The dealership offers them way less than the car is actually worth, and then they’re left trying to figure out what to do next. That’s where we come in!

Here at GC’s Junk Cars, we are a licensed Louisville junk car buying company that operates throughout the state of Kentucky. We’ll come to you, pick up your car, and pay you cash on the spot! It’s a pretty simple process, and it’s one that we’re happy to walk you through step by step.

The first thing you need to do is give us a call. We’ll ask you a few questions about your car, such as its make, model, and year. We’ll also need to know where the car is located. Once we have that information, we’ll be able to give you a quote. If you’re happy with the quote, we’ll send a tow truck to your location to pick up the car. We’ll handle all of the paperwork and will even give you a ride to wherever you need to go.

And that’s it! You’ll have cash in hand and will be rid of that old clunker. So, if you’re looking to sell your junk car, give us a call. We’re always happy to help out! Wonder what happens after we buy your junk car? We are happy to explain, as we are proud to be an environmentally conscious and responsible auto salvage yard here in Kentucky. We operate within all local and state laws that govern auto recycling, plus we adhere to all Federal and EPA regulations and industry best practices for junk car scrapping.

Kentucky Auto Recycling Process

Junk cars are sold to our Kentucky scrapyard every day. But what happens to them after that? Most people assume that the car is just shredded and recycled, but there’s actually a lot more that goes into it. First, our scrapyard will inspect the car to see if there are any parts that can be salvaged and sold separately. This includes the engine, transmission, and other major components. If any of these parts are in good condition, they will be removed and sold individually.

Once all the salvageable parts have been removed, GC’s Junk Cars will then begin the process of shredding the car. This is done for the sake of reducing the size of the car so that it can be more easily recycled. The shredded car will then be sold to a metal recycling facility where it will be melted down and turned into new steel products. So, that’s what happens to a junk car after it’s sold to a scrapyard. It’s actually a pretty interesting process!

Are you ready to make fast cash by selling your junk car in Kentucky to our trusted Louisville auto scrappers? If so, contact GC’s Junk Cars at 502-804-5605 to sell your totaled car in Louisville Kentucky for cash on the spot. We provide free junk car removal too!

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What is a Junk Car?
How to Get Rid of a Junk Boat in Kentucky
Lucrative Options and Uses for Junk Cars

The Cost of Engine Repair and Replacement in the US

The cost of vehicle maintenance and repairs is on the rise. According to AAA, the average cost of maintaining and repairing a vehicle in the United States is now $1,049 per year. That’s up from $1,021 just a year ago. One of the most expensive automotive repairs is engine replacement. Aside from replacing a motor altogether, engine repairs are also on the higher end of costly auto repairs.

Continue below to learn some important facts about the cost of engine repair and replacement in the United States, including what to do if you cannot afford to repair or replace your car’s motor in Louisville, Kentucky.

Sell a Junked Car in Louisville Kentucky 502-804-5605
Sell a Junked Car in Louisville Kentucky 502-804-5605

Average Prices for Engine Repair and Engine Replacement

Overhauling or replacing an engine is one of the most expensive auto repairs, typically costing several thousand dollars. Depending on the make and model of your car, as well as the severity of the damage, the cost of engine repair or replacement can vary widely.

According to Consumer Reports, the average cost to replace a car engine is $4,858. This figure is based on data from 2014-2017. The cost will vary depending on the make and model of the vehicle as well as the labor costs in your area. If you are considering replacing the engine in your car, it is important to get multiple quotes from qualified mechanics to ensure you are getting the best price.

The average cost to repair a car engine can vary depending on the type of engine, but it can be quite expensive. Many people choose to replace their car engine instead of repairing it, but this can be a very costly option.

Tips for Managing High Auto Repair Costs

If you’re facing a costly engine repair or replacement, there are a few things you can do to help ease the financial burden. Many insurance companies offer auto repair coverage, which can help pay for some or all of the costs associated with engine repairs. You may also be able to finance the repairs through your car dealership or a third-party lender.

If you are considering repairing your car engine, it is important to get a few quotes from different mechanics to compare prices. You should also ask about the warranty that is offered with the repair. Some mechanics may offer a warranty on their work, but it is important to read the fine print before you agree to anything.

If you find yourself in need of engine repair or replacement, be sure to shop around and compare pricing from different mechanics or auto shops. It’s also a good idea to get a second opinion before proceeding with any repairs, just to be sure that the work is necessary and that you’re getting the best possible price.

Of course, the best way to avoid the high cost of engine repairs is to take good care of your car and have it regularly serviced by a qualified mechanic. By following this simple advice, you can help keep your car’s engine in good condition and avoid costly repairs down the road.

When Engine Repair Costs More Than Your Car’s Total Worth

If your engine repair or replacement costs are higher than your car’s total market value, it is considered to be a total loss vehicle, which means totaled. Total loss vehicles are those that have been damaged to the point where repairs would cost more than the vehicle is worth, or that have been declared a total loss by an insurance company. If you own a total loss vehicle, you may be able to sell it for scrap value or parts at a local Louisville auto salvage yard.

Do you have some junk auto parts that you’d like to sell for cash on the spot? Contact GC’s Junk Cars at 502-804-5605 to sell a junk car in Louisville, Kentucky. We pay cash for all scrap metal and automotive parts.

Related Posts:

How to Prevent Major Engine Repair or Replacement
The Most Expensive Auto Repairs That Can Total Your Car
What it Means When the Check Engine Light Comes On

How to Get the Maximum Offer for Your Junk Car

Has your junk car been sitting in the garage or driveway for too long? Do you have a rusty tractor or other piece of motorized equipment taking up valuable space in your yard? If so, you are the best candidate for selling a junk car. Because junk cars and similar motorized vehicles contain valuable metals that can be recycled endlessly, they will always retain some degree of monetary worth. How much your junk car or asset is worth, however, depends on a wide scope of factors and variables, including the age, make, model, condition, and buyer you choose.

If you are interested in getting rid of a junk vehicle for the highest profit, you will have the best chance by implementing the following junk car selling tips.

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

Do Your Scrap Metal Market Research

The best way to put yourself at an advantage prior to selling a junk car is obtaining relevant market knowledge. One of the most impactful factors that influence how much a junk car is worth is the current market demand for scrap metal, namely, the metals found within junk motorized commodities. Such commodities include cars, trucks, SUV’s, vans, trains, buses, RV’s, motor homes, construction equipment, farming equipment, airplanes, boats, and anything else that uses a motor.

Both global and national demand will set the current market price for scrap metal, which fluctuates on a daily basis. 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. The more metal in a car, the more it is worth. Likewise, the more valuable the metals in a vehicle, the more cash a seller can earn.

Talk to Multiple Junk Car Companies

There are literally hundreds of so-called “junk car buyers” in your area. In order to separate the fly-by-the-night businesses and scammers, you need to take your time to locate reputable, well-established companies that have been around for awhile and have a good reputation. Once you have found a list of potential junk car buyers, contact each one and request free information, including an over-the-phone rough estimate for your asset.

Keep a record of what each company has to offer in terms of customer convenience and amenities, as well as, their offer. Some companies are well-established enough to have your junk car evaluated on-site using innovative technologies that can precisely pinpoint the quantity of scrap metal in your vehicle. You may have to pay to have your car towed to their complex for an on-site evaluation, but the cost can easily be made up for with the extra money you earn with a comprehensive assessment.

Have Your Car Title Ready to Go

Although having a title is not necessary, it does make a vehicle worth more because of the potential to resell. But a missing car title is nothing to worry about. You can replace a lost, stolen, or damaged car title by applying for a duplicate. If your title is lost or destroyed, you will need to apply for a duplicate car title, which can be done in person at your local County Clerk’s office, or by mail. Start by visiting your DMV to learn exactly what you need to do to complete the process. So long as you have all the proper documentation needed, the process should be fairly simple. See our blog, “How to Sell a Junk Car Without a Title” to learn what you need to do as an Indiana car owner.

Get the Best Deal for a Junk Car in Kentucky

Call GC’s Junk Cars at 502-804-5605 if you want 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 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
Louisville Junk Car Buyers 502-804-5605

Pertinent FAQS About the Worth of a Junk Car

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.

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

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.

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

How to Prove You Own Your Junk Car

If someone wants to sell their car, they must be the owner of the car, and furthermore, retain the proper documents to prove it. The most common document used to prove ownership of the vehicle is the car title. To sell your car with the title, you would simply sign it over to the new owner upon transaction. However, not all junk car owners have a car title. After all, many junk cars are older than their owners, making the history of its paperwork very ambiguous. Titles often get lost, stolen, or destroyed in house fires and flood damage. So, when a car owner doesn’t have the title, how can they possibly sell it to someone else? Fortunately for cases like these, you can use other documentation to prove you are the owner of your junk vehicle.

Continue reading to learn the top 4 alternative methods to show proof of ownership of a car so that you can sell it to a buyer.

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

DMV Paperwork and Proof

One option for a junk car seller without a car title is to ask the Department of Motor Vehicles for assistance. You can fill out specific paperwork at the DMV disclosing all the relevant information about your car, including where it was purchased originally, its mileage, mechanical history, and the last transaction that was made between you and the previous owner or dealer. In this case, it is common for the DMV to require you to make several legitimate and recorded attempts to contact the previous owner of the vehicle and ask about a copy of the car title. You would prove these attempts through a certified letter sent to the previous owner.

Manufacturer’s Certificate of Origin (MCO)

Also known as the Manufacturer’s Statement of Origin (MSO), this document comes with brand new, never-been-owned vehicles purchased at dealerships to prove who manufactured the vehicle. In some cases, this document can be used to prove you own a car when you do not have the title. DMV offices generally accept this as enough proof to assign your name to the car’s registration. From there, you can sell it to a buyer legally.

Bill of Sale and the Registration Certificate

DMV offices are sometimes open to accepting Bill of Sale and registration certificates as proof of ownership for a vehicle. However, this option is not always viable. It depends on the local and state regulations. You must be able to show that a temporary registration certificate was filed, and a bill of sale was completed.

Letter of Release From Lienholder

You must also prove that a vehicle does not have any bank ownership or liens before you can sell it to another buyer. To do so, you would need to present a letter of release from the previous lienholder. Conveniently, this letter is also commonly accepted by DMV offices as proof of ownership without a car title.

How to Sell a Car Without a Title in Louisville

Call GC’s Junk Cars at 502-804-5605 to sell your junk car without a title 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!

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

Funny Signs That Tell You It’s Time to Sell Your Junk Car

Do you have a junk car in the backyard, garage, or driveway? Don’t you realize that is valuable real estate being wasted by a commodity that used to be an asset, but is not more like a pain in the asset? If you have not yet had an ah-ha moment of realization that your junk car needs to go, you may need some help identifying the clues.

Continue reading to learn some funny signs that indicate it’s time to sell your junk car.

Louisville Junk Car Buyers 502-804-5605
Does your junk car look like this? Call 502-804-5605 today!

Your Car Looks More Like a Garden Bed

If your junk car is starting to look more like a bush or raised garden bed rather than an actual automobile, it might be time to sell your junk. After a while, surrounding plants and shrubbery will begin to creep inside the inner parts of a vehicle’s undercarriage; and before you know it, your junk car is a part of the surrounding nature, which comes with several negative consequences like pest infestations and nuisance wildlife interference.

Your Junk Car is the Color of Rust

Unless your junk car was originally an orange-reddish hue, a rust-colored car is a rust-covered car that has been entirely corroded from oxidation. Rust forms when moisture and oxygen come into contact. When this happens, the properties in the vehicle’s metal shell interacts with the properties in the water and oxygen, which in turn causes the iron in metal to corrode. If your junk car is completely covered in rust, it’s time to sell. Similarly, another sign that it’s time to sell your junk car as if the ground below it is covered in orange stains caused by rust formation.

Your Junk Car Was Cited a Public Nuisance

Some counties and homeowners’ associations are not too keen on people keeping abandoned or on operational vehicles on the street for an extended period of time. If you live in one such community, your junk car may have already been cited as a public nuisance. If this happens, you could be subjected to certain legal consequences like fines and having to take your time to appear for court. Avoid all this hassle by seeing that a citation is a clear sign that it’s time to sell your junk car.

How to Sell a Junk Car in Louisville

Call GC’s Junk Cars at 502-804-5605 to sell a junk car for cash on the spot in Louisville, Kentucky. 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!

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

How to Sell a Totaled Truck in Louisville

Wrecking a truck is never something you expect to happen. In addition to all the related strains of a car wreck, you might be disappointed in your insurance company’s settlement offer. Or worse, you don’t have insurance coverage at all. In this case, you still have options if you wish to sell your totaled truck. That is because trucks are bigger and heavier, and therefore contain a good amount of metal. And there are plenty of buyers out there that want that automotive scrap!

Continue reading to learn the easiest and fastest method in Louisville, Kentucky.

Louisville Truck Buyers
Louisville Truck Buyers 502-804-5605

Your First Step

☑ Choose the Right Buyer

The right junk car buying company has a good reputation, is sufficiently-equipped to provide accurate weigh-ins and assessments, and successful enough to pay the highest return possible for your asset. Furthermore, they offer a list of customer conveniences that make the process of selling a junk car, simple to follow. You can start your search by asking friends, family and co-workers for referrals, or you can look online in local business directories.

Your Second Step

☑ Request a Junk Car Quote

Once you have a list of reputable Louisville cash for cars companies to call, contact them one by one and request an over-the-phone estimate for your totaled truck. If you prefer, you can schedule an on-site evaluation, but if you do not accept their offer in the end, you might be stuck paying for your truck to be towed back to your house. For a totaled truck, you can expect to get offers between $50 and $150, depending on the amount of metal and current market values for metal.

Your Last Step

☑ Accept an Offer and Schedule a Pickup

After considering the offers you were given, choose one and schedule a time for the junk car buyers to pick up your totaled truck. Be sure to remove all of your personal belongings, including plates, before they arrive. Also be sure to have your necessary documents ready for the transaction, including your car title or other form of ownership proof.

Who to Trust for Quality Junk Car Offers in Louisville

Call GC’s Junk Cars at 502-804-5605 to sell a totaled truck in Louisville and its surrounding areas. Not only do we buy all vehicles, regardless of age, make, model, and condition, our Louisville junk car buyers 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
Louisville Junk Car Buyers 502-804-5605

Frequently Asked Questions About Cash for Junk Cars

If you have a junk car or other motorized vehicle that you wish to get rid of, why not sell for cash on the spot? At GC’s Junk Cars of Louisville, you can! Not only do we make the junk car selling process simple and convenient for our clients, we also accept all junk cars and more, regardless of make, model, age, or condition. Best of all, we pay the highest amount of cash for junk cars in town!

Before you get started, continue reading to review some frequently asked questions about selling a junk car for cash in Louisville, Kentucky.

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

What Junk Cars Do You Buy?

As mentioned, we buy all make and model vehicles, regardless of age or condition. But that’s not all! We also accept motorcycles, boats, personal watercrafts, farming equipment, construction equipment, ATV’s, golf carts, scooters, mopeds, go-karts, dirt bikes, and much more. Basically, the general rule of thumb is that our Louisville junk car buyers will take anything that has (or had) a fuel-operated motor, whether it is still running or not. If you think about it, many things operate on fuel, making it easy to earn fast cash for your junk!

How Much Can I Get For My Junk Car?

The worth of a junk car largely depends on the current scrap metal prices. Here at GC’s Junk Cars, we retain advanced technological equipment, such as electronic platform scales and XFR analyzers, which read the type of metal in a vehicle, and the quantities present. We will also look up the make and model vehicle to determine the specific percentage of metals and non-metals, then implement the proper mathematical calculations to remove the non-metal percentage from the final quote. Just contact us to request a free, personalized quote!

Do I Have to Be There When My Car Gets Picked Up?

Whether or not you need to be present for the pickup depends mostly on the payment arrangement made. It is standard for us to pay cash on the spot for a vehicle, but if you call us with a special request, we may be able to work out an alternative payment arrangement with you, such as a money wire or mailed check. You can also pick up the money at a later time at our office. If you cannot be present at the pickup, just be sure to leave the appropriate paper work inside the vehicle.

Do I Have to Have a Car Title to Sell My Junk Car?

Although having a title is not necessary, it does make a vehicle worth more because of the potential to resell. But a missing car title is nothing to worry about. You can replace a lost, stolen, or damaged car title by applying for a duplicate. If you looking for your title but can’t seem to find it, that’s not a problem with GC’s Junk Cars! Our junk car buyers may be able to verify ownership using alternative methods. Contact us today to find out!

How Do I Get a Replacement Car Title?

If your title is lost or destroyed, you will need to apply for a duplicate car title, which can be done in person at your local County Clerk’s office, or by mail. Start by visiting your DMV to learn exactly what you need to do to complete the process. So long as you have all the proper documentation needed, the process should be fairly simple.

How Do I Get Started?

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!

Louisville Junk Car Buyers 502-804-5605

National and International Factors That Affect the Price of Steel

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.

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

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!

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