Do you have a car sitting in your yard taking up space? Many people look at their options and try to get the best deal possible. There are more than 25 million tons of scrap material comes from junk cars.
Recycling cars is a huge business and you might be able to cash in on your junk car.
How much do you get for junking a car? Keep reading to learn what your options are and how much you can expect to get for your junk car.
Options for a Junk Car
When you have a junk car, you want to make sure you take a look at all of your available options to dispose of the car and get as much value from it as possible.
One option is to sell the car for parts. That could make a lot of money if you have the right make and model that’s in demand.
You would have to pull the parts from your car yourself, assess the condition of each part, price, and list each part individually.
This also involves negotiating prices and answering questions for each part. You also have to store and keep track of the parts you have available.
That may get money in the long run, but it’s a huge time investment that may not be worth it.
Old vehicle recycling is another option. You sell your car to a buyer who tows it away and takes care of the recycling for you.
People that are charitable and want a tax deduction can donate their junk cars to nonprofits. You want to double-check to make sure that the funds actually go to a nonprofit and you’ll get a deduction. The industry has a lot of fraud and you can never be sure.
How Much Do You Get for Junking a Car?
The answer may surprise you. It depends on who’s buying from you. The demand for used cars as never been higher and people are willing to pay more for them.
At the same time, that doesn’t mean that you’ll get the full value of the vehicle. A person that wants to buy your car because they need a few parts will pay only for those parts.
A junk car buyer may decide that they want to pay about 70% of the car’s value. They hope you’ll take it to get rid of the car. They’ll price your car according to weight and how much metal they can recover and sell.
The car’s condition and make and model are other factors. A car that’s in high-demand and in good condition will get more.
You can’t go by the Kelley Blue Book or other guides. These guides assume that your car is in working condition, leading to an inflated value.
Junk Your Car Today
How much do you get for junking a car? It depends. The value is determined by weight, the demand for scrap metal, and the make and model of your car.
Check out the Top Cars section of this site for more car content.