Maintaining an old rundown car is expensive.
Your car might have been the best thing when you bought it, but with time, as a result of natural wear or tear or even an accident, it could get too broken to repair or keep around. When the costs of repairs become too much, you might want to consider another option for your once beloved car.
While you may be tempted to park the car in your backyard, it is not the best idea. The car takes up space, and will only deteriorate more with time.
So, why not scrap the car for financial gain?
Scrapping lets you gain some money from an otherwise broken-down car by stripping down and selling its parts. However, it is not an easy task. You need the correct documentation, appraisal, and best prices for dealing with the junk.
In this guide, we take you through everything you need to know to scrap your car for the maximum profit.
Prepare the Title of your Car Before Scrapping
“Do you have proof of ownership?” It’s a question you’ll hear during a business transaction.
Different local governments mandate paperwork when selling a car. The paperwork includes a title that shows you are the vehicle owner.
Prepare the different titles before you look for a junkyard. It makes the process smoother and faster and lets you go back to your life.
The different titles you can present include:
- Clear Title
- Certificate of Origin
- Export and Import Title
- Car Official Registration
Can’t find the documents? Get a copy of the papers from the relevant authority.
Don’t Remove Parts
When perusing online sites, many blogs encourage you to sell parts. Don’t! While the urge to sell these parts is up, you may get the lesser deal; cars with removed parts sell at low prices.
Clear the vehicle of all your personal belongings and leave everything intact. Then, the appraisal will be higher, and you’ll get a good deal.
If you made any improvements to the car, leave them intact. For example, a new door on a car will raise the price by a reasonable amount.
Remember to mention leather seats and alloys when getting quotes for your car.
Factors Affecting Your Junk Car’s Worth
So, what is the best scrap value for your car? Different junk cars will have different prices. Here are the factors that affect the price of your junk car.
Make and Model
The make and model of your car will affect the junk price the most.
Old classic cars tend to fetch higher prices even in poor condition, as their parts are highly sought after.
Similarly, popular and widely used cars sell more due to the demand for their parts. Newer car versions use environmentally friendly plastic with fewer alloys. The consequence is lower metal and junk prices.
If your car is still common in the market, it’ll fetch more, as it can be repaired for resale.
Scrap Metal Prices
Before weighing the metal frame, junkyards will usually strip your car of essential parts. The weight of aluminum and steel contributes to the overall price.
Unfortunately, aluminum and steel prices fluctuate highly. One day the cost may be high and the next day low.
When selling your junk car, try to research scrap metal prices in your area and other areas. The prices may differ depending on the demand and supply in specific areas. Fortunately, you can use the internet and apps or visit scrap yards to shop for prices. If the prices are relatively high, selling is a good option; the prices may dip at any moment.
Demand for Parts
If the demand for the parts of your car is high, you will get more for the vehicle.
Some car parts are expensive and rare (mainly foreign-made). As a result, junkyards will proactively look for such parts to resell or use to repair other cars.
If your car has the most sought parts, you’ll be able to bargain for a reasonable price for the junk. If your vehicle has reusable tires, an active suspension, and other reusable components, you’ll get more for it.
Be sure to mention the replaced and added parts of your car as they can add up to reasonable amounts.
Your location will affect the value of your junk car in many ways.
First, the price of scrap metal differs from region to region. Secondly, the distance between you and the junkyard determines the cost of towing.
Lastly, people from various places prefer different vehicles. It might be due to personal reasons, the area’s climate, or terrain.
Nevertheless, the variations lead to a difference in price.
Finding a scrap buyer is more accessible due to demand if your car is typical to your region. It doesn’t mean you must haul your car to another region – if this poses an issue, it is a good idea to consider the cost of towing.
Compare Auto Scrap Removal Companies Offers
Different scrap buyers will offer different prices. For instance, some want the car for parts, while others want to repair the vehicle. Therefore, getting quotes from various buyers will help you get the best deal.
There are different ways to compare scrap buyer prices. The best place to begin is perusing online junk car buying comparison sites. You’ll get all the vital information and the best scrap prices near you on such sites.
Similarly, you can visit your local junkyards and ask for quotes. Again, compare the prices and find the best deal for you.
Get the Best Price for your Scrap Car
Scrapping your car, while not simple, is very doable.
Ensure that you have the documentation relating to the car ownership and that the parts are intact.
Look for different quotes from different scrap buyers and make a deep comparison to get the best deal. Keep in mind that your region, car model, demand for parts, and scrap metal prices affect the junk car’s worth.
If you decide to sell your junk car in the Toronto and North York areas, contact Auto Scrappers for reliable and generous services and prices. We ensure you get the best deal for your junk car.