Congratulations on finally making the decision to get rid of your old, junk car.
This is definitely not an easy decision to make especially since you may have made years of memories with that vehicle but the reality is that if your vehicle is worth less than $500, or it’s costing you more than $100 per month to keep on the road, that vehicle can be classified as a junk vehicle.
The big question though is once you’re ready to get rid of your junk vehicle how do you come up with an estimate for what that vehicle is really worth?
This is a difficult question to ask because, just about everyone has a sentimental value that they place on their vehicle due to the months or years and memories that they’ve made driving that vehicle everywhere but the hard truth is that once your vehicle is classified as a junk vehicle, your car, truck, or van, is only worth a certain value based on the following questions:
Where Is the Vehicle Located?
The first step towards determining what your junk vehicle is really worth is the location of your vehicle.
Will the auto yard or recycler have to send someone out to pick your vehicle up and tow it back to their wrecking yard? If so, this is one of the factors that will affect the value of your vehicle because, that individual will have to spend money on gas and labor to transport your junk vehicle from Point A where it’s currently located, to Point B, its ultimate destination.
What Is the Condition of The Vehicle?
Another big question that will be used towards determining what your vehicle is really worth is what is the current condition of the vehicle.
Junkyards, salvagers, mechanics and any other type of company that works on junk vehicles want to know the answer to this question because, they need to know if the individual parts in your vehicle are still worth recycling or if they’re too worn down by time, deteriorated, damaged and not worth reselling.
Sometimes, even though you think your vehicle can be classified as junk, and it should be sent directly to the junkyard, another reality is that your vehicle could be perfect find for another company or individual to fix it up, get it running again, and then resell it to someone who needs an affordable vehicle.
Make / Model Of The Vehicle
Besides wanting to know the location and the condition of your vehicle, companies that recycle junk cars, trucks, and vans will also want to know the make, model and year of your vehicle because, the answer to this question does mean that there may be more of a demand for specific parts, like the airbag in your vehicle, and other types of components so the answer to this question alone could be all it takes to raise the value of your junk vehicle to more than you anticipated.
What Is The Mileage?
Most companies who work on junk vehicles will use mileage for determining the value of a junk vehicle.
In the junk car world, the more mileage that a vehicle has typically means that the car, truck or van which is classified as being a junk vehicle will be worth less money than what its owner anticipated.
A vehicle with lower miles means that the vehicle could be worth more because vehicles with lower miles means that the parts in the vehicle will still be in fair condition and can be resold to individuals or companies who buy parts for other vehicles while a vehicle with high miles means that the parts in the vehicle have been well-used over time and may not be worth as much.
What Is the Current Price of Scrap Metal?
You may not think that the current price of scrap metal has anything to do with the value of your vehicle but the truth is that it absolutely does affect the value of your vehicle because, if scrap metal is currently not worth as much as it has been in the past, this means that there is less of a demand for scrap metal and you can potentially expect a lower offer on your vehicle then you may have received just one year ago.
Kelly Blue Book
Last of all, but most important, another key factor that you can use to determine the value of your junk vehicle is your vehicle’s current value in a Kelley Blue Book.
The Kelley Blue Book is one of the oldest and most iconic methods in use today for vehicle valuation but you also have to keep in mind that your car or truck has to be in decent condition, not have any serious damage or mechanical problems because, if the vehicle is never going to get on the road again then the value that you find in the Kelley Blue Book may not be an accurate value for your vehicle.
To Learn more about the current value of your vehicle, or to get a quote for recycling it, contact Cashforcars24.com today by calling us at (888) 913-5816 or click here to connect with us online.