What’s the going rate for a junk car? You might think that you can drive up into any junkyard and have them appraise your vehicle, but that isn’t usually how it works. Some companies only accept cars to be scrapped based on their value as scrap metal or recyclable parts.
So what determines the cost of a junk car so you know how to get cash for junk cars? That depends primarily on several factors:
- model year
- demand for used parts
If you are having trouble finding a local junkyard that will pay you what you think the car is worth, there are always online options that can connect you with an interested buyer. You might not receive a high price for your vehicle, but it will likely be sold within a week or two.
Just make sure to read reviews and conduct due diligence before moving forward with any transaction.
International buyers are also interested in some vehicles, so check online for foreign customers if no one in your area wants to buy your junk car.
Know The Market
Prices of similar vehicles in your area are usually public knowledge, so the best way to get an idea of what others are paying is to ask around. Ask family and friends if they know anyone who wants to buy a used car. You may get lucky with one person knowing of someone willing to give you top dollar for your junk car, or it could be more beneficial to use this information for multiple sales down the road.
The easiest way to learn current market values is by using an auto junkyard locator service which will help you find the going rate in your area.
Narrow Your List
Once you have a handful of potential buyers lined up, call them all and inquire about their rates. This will allow you to get feedback on their offers and narrow your search to the best options.
Request The Best Price
Of course, not every price you receive will be what you were hoping for, but if you ask about rates upfront, it is at least worth getting something out of the deal. After all, the money would go in the trash anyway, so why not see if they will offer a little extra? However, only ask for more if it seems like they are trying to lowball you.
Remember that these auto salvage yards paid nothing for your vehicle, so they don’t have any incentive to give you more than what another potential buyer is offering. If you see no improvement in prices after calling three or four junkyards, then it is time to take what you can get and move on.
Present the Best Offer
After finding a reasonable price with one of your potential buyers, call them back and offer to bring your car in as soon as possible. Don’t send an email; instead, make sure you speak directly to them on the phone. That way, they know for sure that this is real and not just someone trying to solicit their business like everyone else.
If you receive an acceptable price from multiple junkyards, then choose which one will give you the most convenience before planning your trip. Remember, the only thing these guys care about is receiving payment for recycling your vehicle, so don’t waste time haggling with someone that is too far away.
Once you find the perfect buyer that will pay top dollar for your junk car, it’s time to set up an appointment. You need to be completely honest about what kind of shape your vehicle is in so they know exactly what they are getting into.
For example, if the engine has been smoking lately or there are large dents all over the body of your car, then let them know before they waste their time making a trip out to buy your car. They can always back out and accept another offer if they feel like parts won’t be worth anything on the trade-in value of your junk car.
These auto salvage yards usually prefer to inspect vehicles themselves for safety purposes, especially if it is a newer model that might be worth a decent amount of money. However, if they ask you to bring it in, then take the appropriate safety precautions.
Protect Your Vehicle
When taking your car into an auto salvage yard, always keep it protected with a tarp or cover. Even a windshield shroud will help cut down on the dust and dirt getting inside while providing some degree of security against theft.
Tow Your Car
If everything goes smoothly, drive on over and drop off your junk car without any issues. However, many times there will be problems that arise that slow down the process significantly.
For example, some vehicles require a different kind of tow truck which isn’t available at every local yard. If this is the case for your car, then try calling around to find another location nearby that can help tow it away for you.
Which Junkyards Pay The Most?
Entertainment companies usually buy cars in bulk, so their rates vary significantly depending on what they think you might be willing to accept. At the same time, a small independent company can pay a lot more because they have a much higher profit margin after paying only pennies on the dollar for all your used car parts.
The best advice is to take whatever you can get and move on with your life. Just take that cash for junk cars. There’s no reason to stay at one junkyard when another one offers far more money for your vehicle, even if it does require you to make an extra trip out of it.
Whether you receive five hundred dollars or fifteen hundred dollars for your old pickup truck, don’t get overly greedy. Just collect the money and move on; it won’t be worth the amount that you save for the inconvenience of not getting paid with an actual check or legal tender.
Take advantage of local junkyards before time runs out! You might find one that isn’t too far away from your house that has a pretty good offer waiting for you.