How Much Is Your Car Worth at a Salvage Yard?

March 17th, 2015 | By | Posted in Uncategorized

How Much Is Your Car Worth?

If you have an old vehicle taking up space in your garage or driveway, don’t just pay for someone to tow it away; let a salvage yard pay you for your car that has reached its end-of-life point. Each car manufactured will eventually reach a point where it needs to be salvaged, and it makes sense both financially and environmentally to sell the vehicle to a reputable, responsible salvage yard. The big question we always hear is, “How much can I get for my car?”

What Factors Affect Prices

There are many factors that affect the price you can fetch for your vehicle; when it comes to a general price for salvaging a car with a salvage yard, there are some general guidelines associated with the price you might be able to get, including the following:

  • The make and model of your vehicle
  • The year of your vehicle
  • The amount of miles
  • The condition of the car, both exterior and interior
  • Title status
  • Location

Some makes and models of cars are extremely popular among salvage yards due to the demand for parts and purchase. If your vehicle happens to be one of these popular models, your price will be higher. The lower the mileage, the better, and obviously the better the condition of the vehicle, the more parts that can potentially be sold to clients by the salvage yard. These are the basics that affect the value of the vehicle, and you can speak with the salvage yard concerning your specific vehicle to get a better idea.

In addition to these factors, it helps to understand basic business practices when it comes to buying and resale. A salvage yard will generally not offer more than 50% of the total value of the vehicle. This means that if they estimate that after your car is sold for parts, refurbished and sold, or just simply recycled for the metal value they will be able to make $1000.00, you probably won’t be offered more than $500.00. Keep in mind that the salvage yard has to make a profit to support their business and whatever money goes into your pocket is a bonus, because your car wasn’t making any money for you sitting in your driveway.

Does the Car Have to Run?

Unlike selling your car to a dealer or other interested parties, your car does not have to run to be sold to a salvage yard such as ours. It doesn’t even have to look like it has been driven in the past couple of decades. We don’t care what condition a vehicle is in; we pay cash for junk cars, running or not. Whether a car runs pretty well or hasn’t run since the Cubs won the World Series, we can come at a convenient time to tow it away.

What You Need to Bring and Additional Tips

Now that you have decided to finally surrender your car, truck, or van to the salvage yard, there is some information and a few tips that will make your selling process go off without a hitch. When you have your automobile towed to the salvage yard or you drive it down, make sure you have a few documents with you, including the following:

  • Your original car title
  • Your driver’s license

You need to bring your car title with you because you will need to sign the title over to the salvage yard upon sale. The title should be officially transferred within about a week, and you can check on the completion of that transfer with the state Department of Motor Vehicles. The driver’s license is just to verify that you are, indeed, the owner of the vehicle.

In addition to the title and driver’s license, there are a few other tips to making a smooth sale. First of all, make sure you clean out your car before it is towed away or you drive it down to the salvage yard. It makes it easier for you and saves time during the transfer. Second, be aware of the lemon laws and the fact that it is unlawful to tamper with mileage or falsify any other information during the sale of your car.

Overall, it is extremely easy to make some fast cash from your end-of-life car and clear out a space in your driveway at the same time.

Sources:

http://www.carsdirect.com/sell-cars/how-to-sell-a-car-to-a-junkyard-tips-for-getting-the-most-money-possible

http://www.consumerreports.org/cro/money/shopping/shopping-tips/best-ways-to-sell-your-stuff/overview/index.htm

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