Choosing A Car You Will Love
How Much Is Your Junk Car Worth?
Louis Castro
You feel that your car is on its last legs and it's probably time to junk it. But you are wondering what it's worth and how to get maximum value from it. Selling your junk car is a bit tricky as there is no documented list of what to expect.
However, there are a number of factors that will help you estimate the value of your junk car.
Waiting
You may be tempted like many people to wait to sell your junk car. What you may not realize is that waiting does harm to your car. The parts begin to deteriorate and lose value, especially if the car is not running.
Movable parts break down and wires get chewed up. Metal parts get rusty and corroded, rubber gaskets, hoses, and tires get worn.
The seats and dashboard will also fade and crack. Finally, animals will make their nests in the car and begin to feed on parts.
Value of Salvaged Parts
The more the working parts, the more money you are likely to get for your carl. But don't expect the same amount of money as the cost of the parts; downscale a bit, by say, 50%.
Better Prices at Auctions
Junk cars that are still in running shape are sometimes sold by junkyards at an auction to be refurbished. Don't expect a lot of money, but you will get a better deal than selling as mere scrap.
Book Value
You will not get the same price from a junkyard as your car's resale value. However, your car's book value can help you to estimate the car's worth. To get this, subtract the cost of repairs required from the book value.
Material
What material is your car made of? Nonferrous metal (those that do not attract a magnet) such as steel, brass, copper, and aluminum will fetch you more money.
Note that prices of metal fluctuate depending on supply and demand.
Weight
Take this as a last resort. The price of a scrap car is around $150 per ton. The average car should bring in a few hundred dollars when you go to a shop that pays cash for junk cars. However, this should be the minimum. If your car has working parts, you may be able to renegotiate a better deal, depending on whether the business uses these or not. You can certainly look for a few quotes on your car.
Contact a company like Cash For Junk Cars in Miami for more information and assistance.
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Have you been saving for a new car? Although you might be tempted to invest your hard-earned dollars into the first ride that looks new and shiny, buying the wrong car could cause a lot of problems later. While the right car will keep you comfortable, safe, and financially viable, the wrong car could end up running your checkbook into the ground with repairs and leave you with a lackluster experience. Fortunately, I have bought several cars over the years, and I can teach you how to choose a car that you will adore. As you read my website, take notes so that you can navigate that car dealership like a pro.