The market for junk vehicles is much more active than you may think. You can get some cash for an old car in your garage, or even a totaled vehicle. How can you be sure you are getting the most money for your junk vehicle? This guide will take you through the entire process.

Junk Car Market: What You Need to Know

Understanding the market is the first step in getting the best possible price for your junk vehicle. The price of a junked car is determined mainly by the amount of scrap metal it contains, but there are other factors that can affect its value. If your car is an old model with parts in high demand, for example, you may be able get a better price.

Certain models are more expensive as junk cars in the US auto market. The Toyota Corolla, Honda Accord, and other models are well-known for their reliability and longevity, so there is a large market for their spare parts. Luxury vehicles such as BMWs and Mercedes, on the other hand may command a higher price because of the value of their components.

Factors that Influence the Cost of a Junk Vehicle

There are several factors that can affect the price of your junked car. Here are the most important:

1. Make & Model of the Car: Some models and makes are more sought-after than others. This is because they are popular, or their parts are in demand. Trucks and SUVs, for example, are often more expensive than compact cars because of their size and value.
2. Year Of The Car: Your car’s age can affect its price. Older cars may not be worth as much as the newer ones if they are not in good shape. Classic or vintage cars are an exception.
3. Condition: If your car is in good condition, you will get more for it. Your car might be worth more if it’s still running and only requires minor repairs.
4. Car Weight: Because junk cars are sold as scrap metal often, the weight of your vehicle can have a significant impact on its price. Heavier vehicles are usually more expensive than lighter ones.
5. Scrap Metal Demand in Your Area: Prices of scrap metal vary by location. You might get more money for your junk vehicle if you live in a place where scrap metal is in high demand.

Preparing Your Car for Sale

Get quotes from different buyers

Get quotes from multiple buyers once your car is ready to sell. You can get quotes from local junkyards as well as online buyers and private individuals. Get multiple quotes for your vehicle to ensure that you get the best deal. You can get a better idea about what to expect by reading our guide on the average price of a vehicle.

The highest price is not always the best. Some buyers will offer you a low price, but then charge for towing and other fees. Ask about additional costs before you agree to a purchase.

Complete the Sale

The final step in the process is to close the deal. The final step is to complete the sale. This involves signing the title over to the buyer, getting paid, and organizing for the car’s pickup. When you sell to an online buyer or junkyard, they will usually handle the towing and pickup of your car.

Where to Sell Junk Cars

You have a few options when it comes to selling a junk car. Here are the best places to dispose of your junk car.

Online buyers

Online buyers make it easier to sell your junk vehicle than ever before. You might want to consider the following:

1. Peddle is an online junk-car buyer who makes it easy to sell your car. Enter your vehicle information, receive an instant offer and they will pick up your car free of charge.
2. Although Carvana deals primarily with used cars, in some cases they will also buy junk vehicles. Carvana may be a good choice if your car is under 10 years old, in decent shape and has a low mileage.
3. CarGurus offers another online platform to sell your vehicle. The vast network of buyers can help you to get the best price possible for your vehicle.

If you are considering replacing your old car with an eco-friendly vehicle, be sure to read our guides on Best Electric Cars and Best Hybrid Cars.

Online Buyers

There are many offline buyers that may be interested in buying your junk car.

1. Scrapyards are an excellent option to sell your junk car. They buy cars primarily for their scrap metal. The weight of the car is therefore a major factor in determining its price.
2. Salvage Yards buy junk cars and resell the parts. Salvage yards may offer you more money if your car’s parts are in high-demand.

Auctions

You can sell your junk vehicle at auctions, especially if the car is a classic and in high demand. Here are some auction sites you might want to check out:

1. COPART is an online platform that allows you to sell your vehicle at the highest price. They buy and sell all types of vehicles, including junk.
2. IAA, like Copart, is an online platform for auctioning a variety of vehicles. The large network of buyers can help you to get a fair price for your vehicle.

Negotiating the best price for your junk car

Negotiating may seem daunting, but it is a vital part of getting the most for your junk vehicle. Here are some tips on how to negotiate effectively.

1. Know the Market: Knowing more about the junk car market will help you negotiate better. Use the information you find to your advantage.
2. Request multiple offers: Do not accept the first one you receive. Get quotes from several buyers. You will have a better understanding of the value of your vehicle and more bargaining power.
3. Do Not Be Afraid To Walk Away: When a buyer refuses to match your price, do not be afraid to leave. You may find that there are other buyers who will pay more for your vehicle.

Case Study: The Highest Paying Junk Vehicles

Some cars are worth more than others. Here are the best-paying cars for junk and why they are worth more.

1. Toyota Corolla: Because of the Corolla’s reliability, there is a large market for parts. Even older models can be sold for a good price.
2. Honda Accord: The Accord, like the Corolla is known for its durability. The parts of the Accord are highly sought after, and can increase in price.
3. Ford F-150 : One of the most popular pickup trucks in the U.S. is the F-150. Its heavier weight can also result in a more expensive scrapyard price.
4. Chevrolet Silverado: Another popular truck, the Silverado has a large market for its parts. The size and weight of the truck can also affect its price.
5. BMW 3 Series: Although luxury cars such as the 3 Series are expensive to maintain, parts of them can be very valuable. It can lead to a higher selling price at a salvage yard.

These are only examples. You can expect to get a price for your junk vehicle based on several factors. These include its condition, demand for its components, and current scrap metal prices. For more information about popular models, check out our guides on the best midsize trucks or the best sports cars.