When thinking about how much your car is worth, you probably don’t consider the metal on it. Although the majority of a car is made out of various metals, we often think about all the other things that make it valuable. However, the types and amounts of metals on your car can greatly impact its value.
Dealerships and average car buyers are not concerned about the metal in and on your car. Junkyards, though, are.
In fact, the weight of the scrap metal on your car is the only thing that junkyards care about when evaluating its worth. Thus, the price of metal on that day can impact the amount you can receive for your car.
Keep reading to learn more about metal pricing and how it affects the value of your car.
How Junkyards Price Cars
Most junkyards rely on the current price of metals to determine the value of your car. Depending on the weight of your vehicle, you will receive a certain amount based on the metals that are on it.
For example, steel might be $0.01 per pound, aluminum, $0.30 per pound, and copper wire, $0.50 per pound. Most cars today contain approximately 350 pounds of aluminum and 2,4000 pounds of steel. Trucks and SUVs can contain as much as 3,000 pounds of steel.
The copper wiring is found within all of the electronics in the car and adds up to several pounds. If your car is completely intact, you can expect several hundred dollars from a junkyard for your car.
Although the weight of the metals is the primary consideration of junkyards, some will also factor in the quality of the metals. Having degraded and rusted metal may result in a lower quote as it has no value to the junkyard.
While metal prices heavily impact the amount you can get from a junkyard, remember that as businesses, junkyards do place value on other components depending on the condition of your vehicle.
For instance, you might be able to get more money if you have certain in-demand pieces in-tact. These can include windows, new tires, and doors.
Certain makes and models have defective door handles, doors, or radios. If your car still possesses these items, a junkyard might value your vehicle higher because they will be able to resell these pieces.
Metal Prices Fluctuate Often
Just like stock prices, metal prices also change constantly. They also vary by location and demand. Metal is part of the trading market as a commodity; thus, it is subject to the same volatility as stocks.
There are so many things that impact these fluctuations, but it’s difficult to predict them. They can change monthly, weekly, and even daily.
Fortunately, you don’t have to know everything about the metal market. You must simply conduct careful research.
By looking into the current market when you’re ready to sell, you will find out what the current price ranges are in your area as well as the trends that prices follow. Then, you can make an informed decision about when to sell your car to a junkyard so that you can get the best price for it.
However, be aware that junkyards don’t rely exclusively on the prices of metals when evaluating your car. While most pay very close to metal prices, they also need to make money. Thus, they will consider other factors such as demand for your car’s parts and the vehicle’s condition.
Sell Your Metal Clunker with WeBuyJunkCarsFast
When you sell your car to WeBuyJunkCarsFast, you don’t have to worry about the price of metal.
We take into account many different aspects of your vehicle when evaluating it. As a result, you will get the best price possible because we can determine what your car is truly worth.
In addition, when you sell to WeBuyJunkCarsFast, you don’t have to do extensive research to figure out how much you’ll get paid. We’ll give you an instant quote after you fill out our online form with details about your car. Then you can reject it or press accept!
Furthermore, you won’t have to worry about towing when you sell to us. We take care of it, totally free of charge.
Once you accept our offer, we will pick it up in 24 to 48 hours. Our driver can hand you your check or you can elect to receive it in the mail. Your check will be the exact amount that we quoted you.
It’s as simple and easy as that to get rid of a metal clunker when you sell to WeBuyJunkCarsFast. With us, there will be no hassle and no haggling.
You can complete the whole process from the comfort of your home in less than 2 minutes. Get started today!
It’s a Quick and Easy Process
Tell us About Your Vehicle
Answer a few quick questions and provide a picture if you can.
Get Your Offer
In less than two minutes, you’ll have a guaranteed offer.
Accept
Accept the offer if you’re happy with it.
Get Paid
Within 24-48 hours, we will tow your car for FREE and pay you on the spot!
