If you have a junk car just taking up space in your property and you want to get rid of it, there are many options available for you. One of the most popular is selling it to a scrap yard.
Some people think that junk car sales to scrap yards are just a scam. There’s a belief that junkyards will not pay a good value for money for people who want to get cash for junk cars because they price cars differently.
However, this stigma isn’t true at all. There are just numerous factors that affect junk car pricing. Generally, scrap car buyers look at the vehicle’s model, make, parts, and numerous other elements. But aside from that, metal plays a crucial role in the pricing of unwanted cars.
How does metal affect the total price of a junk car? Here are the metal-related factors that will influence how your vehicle will be priced.
Demand for Metal
One thing that you have to know before selling your car is that the market price of metal regularly fluctuates. If you’re planning to sell cars for cash, you need to check the current rate of metal in the market today, so you can maximize the value of your car and have better negotiating knowledge during your selling transactions.
On average, the price of recyclable metal you can get for cars will be a few cents per pound. However, when demand for metal increases, they can go as high as $2 per pound. Simply put, low demands mean low rates, and higher demand will bring in higher rates.
Type of Metal
In the car manufacturing industry, there are four types of metal that are commonly used: aluminum, steel, magnesium, and titanium. Each type of metal comes with its own distinct properties and characteristics, dictating its market value. So, it would help to become familiar with what kinds of metal your car is made of so you can have a quick estimate of how much you will be able to get.
That being said, common metals like aluminum, magnesium, and steel are highly available, so you can’t really expect to get higher rates for them above a few cents per pound. However, titanium is something that many industries are in need of, so it will always give you better prices than the others.
Price of Metal
Consequently, the price of different types of metal also affects the total selling price. For instance, metals like aluminum, magnesium, and steel are typically priced at $0.01 per pound. However, titanium is rare, so its average price is about $0.35 per pound.
Of course, this price can still go higher because of daily fluctuations, so checking regularly will be able to help you get more money if you’re selling your junk car.
Final Thoughts
Getting a few cents per pound for your car may not sound too appealing. However, there are other parts of your vehicle that can be valuable, such as its engine and electronic components. Moreover, getting a few hundred dollars for your car will always be better than just leaving it parked in your garage or on your street.
If you want to learn more about places that buy cars for cash, you should call us today at Best Price Cash For Cars. Our team takes pride in providing you with the safest, easiest, and fastest way to sell your junk car for top dollar. Give us a call today for a free quote and free towing services!