Have you been driving around an old clunker you’re ready to get rid of? Or have you got an old beater car taking up space on your driveway? Did you know there’s value in that hunk of junk as a salvage car for scrap metal?
A shortage of new cars is increasing the value of used cars and recycled parts, as people keep their old cars for longer.
The average age of a vehicle on the road in the US increased from 11.9 years to 12.1 years in 2020, according to the Automotive Recyclers Association. More than 500,000 spare parts are sold to consumers every day, as they opt to repair their cars rather than buy a new one.
That means scrap metal sales are rising and you can make money by selling your old car for parts. How?
Research Scrap Metal Sales Prices
Before you approach a dealer to recycle your car, check out current prices for scrap metal. Cars contain a variety of metals that are of value to dealers, including steel, aluminum, and copper.
Scrap metal is traded by weight, so you can estimate what it might be worth. The average small car weighs around 2,600 pounds, while large trucks and SUVs can weigh around 6,600 pounds.
If your car still runs, you can make more money by selling it as a salvage car rather than as scrap metal. If there are parts that are in good enough condition to be resold, these will increase the car’s value.
Your insurance company will also be able to give you an estimate of the car’s scrap value based on their own formula.
Once you have an idea of the car’s value, you can negotiate a fair price with recyclers.
Don’t Wait Too Long
Keep in mind that the value of cars and their parts declines over time. The most valuable parts deteriorate once the car is not in use. The weather where you are will also affect how fast corrosion sets in.
So don’t leave your car sitting around for too long. Sell it while you can still get the most value.
Get Quotes From Several Scrap Dealers
There are more than 9,000 junkyards across the US. So don’t just sell your car to the first scrap dealer you find. Competition for your car is high — especially as demand is rising.
Visit and compare quotes from several scrap metal recyclers that sell old car parts, so you can get the best price for your car.
Make sure you’re clear on the terms and conditions they offer. Find out if they will come to collect the car or if you need to take it to their location, as the cost of transporting it will affect how much money you make.
Make Some Extra Cash From Your Old Car
You can make money if you recycle your car rather than keeping it around developing rust. If you do your research and compare scrap metal sales prices from several dealers, you can get the best deal for your old beater car.
If you found this article informative, check out the automobiles section on our website for more useful tips!