How Much Will I Make if I Sell My Totaled Car to an Auto Salvage Lot?

There is a perfectly good reason why many junk car owners consider themselves lucky. There are many lucrative uses for a junk vehicle, especially if most of the salvageable parts are still operable. An owner has several options for turning their salvaged car or truck into a profit of some sort.

Continue reading to learn what options are out there and the true profitability potential of a junk vehicle.

Indianapolis Indiana Junk Car Buyers
Sell a Junk Vehicle in Indianapolis 317-450-3721

Sell a Whole Junk Car

Junk vehicle owners can take the easiest and quickest route by choosing to sell their asset directly to a buyer. There are infinite consumers out there looking for salvaged vehicles and other commodities for a variety of reasons. Selling a vehicle as a whole may cut your profit down a bit, but it makes up for all the time and effort you evade in the process. When most parts are not functioning, direct selling is usually the best and only option.

Potential consumers for salvaged vehicles include junk car buyers, junkyards, metal recycling centers, private parties, auto body shops, and even metalwork manufacturers. The internet opens doors to thousands of consumers looking for exactly what you are selling, especially in the automotive market.

Sell All Auto Parts

Another option for profiting from a junked car is selling its parts individually for a higher profit. Although this is a more tedious and difficult approach that requires the skill of a licensed mechanic or trained mechanic, it renders a much higher profit. Headlights alone go for more than a few hundred dollars, brand new. So, it’s no mystery why so many people want to purchase used parts at a discounted price.

Other parts like motors, radiators, exhausts, catalytic converters, fuel tanks, and more are all sought-after car parts that can be refurbished and sold for a profit so long as they still work. A catalytic converter, for example, is made mostly from a precious metal called platinum. It is a very useful, expensive, and prized precious metal. This part alone can rake in some serious cash.

Call a Junk Car Company

Last, a person can simply choose to keep their salvaged vehicle in the case that their current one needs new parts. As mentioned, some automotive parts are extremely expensive to repair or replace, so having your own private inventory of spare parts is a highly-lucrative asset. That’s something to definitely consider if you own an old car or truck and want to make good use of it.

Are you ready to sell your junk car for cash now? Contact us at 317-450-3721 to speak with an Indianapolis cash for junk cars buyer and get a free offer today. We serve all of Central Indiana.

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Cash for Cars Indianapolis 317-450-3721
Indianapolis Cash for Junk Cars 317-450-3721

Is a Junk Car Worth More if it’s Heavier?

The profit you receive for your junk vehicle will depend on all sorts of factors, one of which being the current market value for the metals your junk car contains. Accordingly, the more metal in a car, the more it’s worth once it’s deemed a total loss. Although the market values fluctuate regularly, sometimes even daily, making it hard to predetermine how much a junk car is worth, you can count on the fact that the more metal in a junk car, the more value it has. This is especially true for junk cars that contain all its parts.  

Continue reading to learn how metal quantity can influence the money you make from selling a junk car.

Indianapolis Junk Car Buyers
Indianapolis Junk Car Buyers 317-450-3721

Valuable Metal in a Junk Car

Metals like copper, aluminum, and iron are present in junk cars. They are also high in demand, and less available in today’s mining economy, making their values higher than before. Precious metals are also high in economic value. The two most abundant precious metals found in a vehicle are gold and platinum. However, there are a few others in trace quantities.

A vehicle that still retains a catalytic converter is more valuable than one that does not because catalytic converters are primarily compounded of platinum. It also contains traces of other precious metals and valuable alloys, such as palladium, rhodium, cerium, manganese, and nickel. As for gold, you can find it in any vehicle that contains a computer or circuit board.

How Much Can You Get

Professional junk car buying companies do not use a concrete formula to appraise junk vehicles. Instead, junk car appraisers will use specific factors as well as the current metal prices to determine how much a car is worth and how much they can pay someone for it. One of the most influential factors is the amount of metal in a vehicle.

Typically, vehicles that are larger and weigh more have more metal, thus making them worth more money at a salvage yard. However, the process of determining how much a junk car is worth can be complicated since values vary depending on several other factors, such as the make and model of a vehicle, a vehicle’s location, a vehicle’s condition, and the current market prices for metal.

How to Learn More About Selling Junk Cars

Call 317-450-3721 to speak with our friendly Indianapolis junk car buyers about selling your totaled car, today! We are the reputable and reliable junk car removal company you are searching for! We have been in business for over 25 years and will give you best return for your junk vehicle or motorized commodity. We accept anything with a motor, regardless of age or condition. Just call 317-450-3721 to get started!

How Much is My Junk Car Worth?

The process of determining how much a junk car is worth can be complicated since values vary depending on several factors. The 4 primary factors include the make and model of a vehicle, a vehicle’s location, a vehicle’s condition, and the current market prices for metal. This means that your friend’s junk car might be worth more or less than yours. Continue reading to learn how these 4 primary factors determine the worth of a junk vehicle, and how professional junk car buyers use these factors to appraise them.

Cash for Cars Indianapolis 317-450-3721

Cash for Cars Indianapolis 317-450-3721

Junk Car Appraisals

Professional junk car buying companies do not use a concrete formula to appraise junk vehicles. If it were possible to do so, they would, but the variables that influence the worth of junk cars continually fluctuate. Most often, appraisers will use all the factors surrounding junk cars and metal prices to determine how much a car is worth and how much they can pay someone for it. This includes the current market price for the same vehicle, the amount of depreciation in its used condition, the cost of repairs or replacements needed to get the vehicle back into a working condition, the make and model of the vehicle, the vehicle’s location, its present overall condition, the current market prices for scrap metal, and much more. This is why the value of one junk car is almost always different from another.

4 Primary Factors

Make and Model – The make and model of a vehicle is a significant factor in its overall value as a junk car. Many newer model vehicles are lighter-weight, and designed toward fuel efficiency and eco-friendliness, which means they tend to have less metal and more plastic. On the other hand, older models tend to have parts that are less valuable because many older vehicles coming off the road are in their last stages of life, rather than in need of a part replacement.

Location – Different locations have different demands in terms of junk car buying and selling. If you live in an area where the scrap metal business is good, the regional price of scrap metal is likely better, which means you can receive more for your junk car. Also, some areas have higher demands for certain types of junk vehicles, which could also influence how much you can get for it.

Condition – A vehicle that is still running may not be a junked vehicle, but it can still be sold to a salvage yard for a good price. A vehicle that is old, rusted, and missing most of its parts is worth less than a vehicle that still retains most of its parts, including valuable ones like catalytic converters. Catalytic converters contain platinum, which is very valuable. A car with a catalytic converter intact is worth more than a junk car without one. Basically, the more metal it has, the more valuable it is; and if it is still running, it is even more valuable.

Scrap Metal Prices – The current price for scrap metal is the most important and influential factor in determining the worth of a junk vehicle. When the price of metal is down, a junk car is worth less; and when the price of metal is up, a junk car is worth more.

Indianapolis Cash for Cars

Call Indianapolis Cash for Cars at 317-450-3721 to sell a junk car for cash on the spot in Indiana. We pay the highest imbursements for all make and model junk cars, trucks, boats, tractors, and more. Our junk car buyers accept anything motorized or that runs on fuel. The process is simple and starts with a quick phone call. Dial 317-450-3721 and request a free quote for your junk car in Indianapolis, today.