Getting your car scrapped is a good idea as it allows you to get money for something that is no longer of any use to you, according to ukcarmovement.co.uk. There are different factors that determine a car’s scrap value. You need to know what these factors are so you can estimate the right scrap value.
This article has highlighted all the important factors that will decide the scrap value of your car.
Table of Contents
Stock market rates
The first thing you need to check is the stock market rates of metals that make up your car. Cars are made up of different metals and plastic. The value of these materials changes every other day. If the value of the metal is currently high, the scrap value of your car will also be high. Therefore, you should be aware of their current values so you can estimate the scrap value of your car beforehand.
Weight of the car
The size and weight of a car are the two most important factors that determine its scrap value. If your vehicle is bigger and heavier, you will get more money compared to the money you will get by scrapping a lightweight car.
You can find your car’s weight in different ways. One of the easiest ways is to find it in the owner’s manual. If you do not have it, then type the name of the manufacturing company and model of your car in Google. Then go to their official site to check the car’s details and weight.
Metal type and quality
Your car’s scrap value will be determined by the metal used for its construction. The most abundant metal in cars is steel. Many cars also have aluminium that is used in wiring, wheels, etc. Its value is higher than the value of steel. So, the more aluminium your car has, the higher its scrap value will be. The catalytic converter has rhodium, which is an expensive metal. So, check the current values of these metals before you take your car for scrapping.
Cars that are expensive also have a high scrap value. It is mostly because expensive cars have high-quality metals and valuable parts. The ATF can sell its parts if they are in good condition. So, you will be paid more for selling the latest car for scrapping.
Year of manufacture
Year of manufacture will also influence your car’s scrap value. If you have a very old car, then obviously, its scrap value will be low. On the other hand, if your car was manufactured only a few years ago, then its scrap value will definitely go high. So, keep this point in mind while estimating the scrap value of a car.
Car’s current location
Most of the junk car buyers provide pickup service. Cars that are far from the junkyard have a low scrap value than the cars near the scrapyard. It is because junk car buyers will have to put more effort (in the sense of fuel and time) into taking your car to the junkyard.
So, keep all these points in mind while estimating the scrap value of your car.