5 Reasons Why You Won’t Get $500 Cash for Your Junk Car

Although possible in the past, it isn’t likely that you’ll get more than $500 for your junk vehicle any time soon. And here’s why…

Cash for Cars Indianapolis 317-450-3721

Cash for Cars Indianapolis 317-450-3721

Just a few short years ago, the scrap metal industry was content. Back then, you could easily get $500 or more for a quality junk car considering scrap steel was selling at an average of $400 per ton. But times have changed since then, and the industry has experienced an on-going slump. And this slump isn’t the roller coaster kind, with rising and falling values. Instead, think of it as a steady, downhill ski slope that ends with a sudden drop off.

Unfortunately, the market has not seen any rising values for scrap metal since before 2014. Continue reading to learn why you probably won’t get the value you’d once expect from selling your junk car for cash to an auto salvage center.

Scrap Metal Exports are Down

Our country used to export an abundant amount of scrap metal overseas, but not anymore. In fact, the United States exported an average of 20 million metric tons every year. And as little as 5 years ago, that number was a whopping 24 million! But in 2014, the number dropped significantly, and has continued to decline ever since. And in terms of basic economics, when demand is low, so are prices.

The U.S. Dollar is Up

Although it sounds good that the U.S. American dollar is on the rise, but in terms of international commerce, it’s not. As the value of the U.S. dollar increases, it becomes more expensive for other countries to purchase U.S. goods, including metal. This brings us right back to the basics of economics mentioned above.

The U.S. is Importing Canadian Steel

Canada’s steel industry is diminishing, causing them to export more and more to the United States. And for cities close to the Canadian borders, it can be less expensive to import Canadian steel than to have it transported from somewhere else in the United States. And when you couple that with a weak Canadian dollar, you can understand the circumstances.

China is Long Gone

The United States used to sell a significant amount of steel to China. But now that China’s economy has taken a slower pace, they are no longer interested in buying as much steel from our country. And if they won’t buy it, we can’t sell it. Again, when demand is low, so are the prices.

The Competition

China produces steel and exports it cheap to sell to other countries. This puts other steel-producing countries in a poor position. So as other country’s’ prices for steel decrease, the U.S. is forced to buy this cheaper steel, causing American steel producers to have trouble with their businesses.

Auto Salvage Companies

Auto salvage companies wish they could give you the value you expect for your junk car, but they just cannot. The industry is simply not doing well right now, and there’s no sign of it getting better any time soon. However, you can still receive a fair price for your junk vehicle if you visit a cash for cars company in your area.

Indianapolis Cash for Cars

Junk Car Buyers 317-450-3721

Junk Car Buyers 317-450-3721

Call 317-450-3721 to sell a junk car in Indianapolis, Indiana for cash on the spot. We will buy your junk vehicle regardless of its condition, and pay you the fairest return in town! For more than 75 years, our company has been a trusted source for junk car selling, so you can trust us too! Call 317-450-3721 to request a free estimate for Indianapolis cash for cars, today.

The Difference Between Salvaged and Rebuilt Car Titles

Indianapolis Junk Car Buyers 317-450-3721

Indianapolis Junk Car Buyers 317-450-3721

When a vehicle incurs damages, and the total cost of those damages exceeds the overall value of the vehicle, it is considered a total loss. This means there is no more true value in the vehicle, and that repairing it would cost more than what the car is actually worth. In these cases, the automotive insurance carrier will issue the vehicle a salvaged title. In other cases, when a vehicle incurs damages that are close to a total loss, but the owner decides to restore the vehicle anyway, the insurance carrier will issue the vehicle a rebuilt title. Continue reading to learn the difference between the two, and who to call if you want to still profit from your salvaged vehicle.

Salvaged Titles

When a car is damaged to the point that it is a total loss, the cause of the damage may not just be a typical wreck or collision. There are several other types of damages that can render a vehicle as a total loss; such as hail damage, vandalism, theft recovery, flooding, and more. The purpose of salvaged titles is to indicate that the vehicle is a damaged vehicle. Cars with such titles are not meant to be driven on the road, and are not safe for driving in most cases. This is why vehicles with salvaged titles cannot be legally registered. So if a person is driving a car with a salvaged title, they are driving illegally. And since a salvaged title means the insurance company has already deemed the car a total loss and paid out for it, there is no way the vehicle can be insured again. If it cannot be registered, there is no need to insure it anyway.

So, vehicles with salvaged titles do not require insurance, cannot be legally registered, and therefore, should never be driven on public roadways and streets. Salvage vehicles can still be sold for parts and metal recycling purposes. Generally, but not always, salvaged vehicles are priced around 40% less than the KBB market value. Or it can be measured by the weight of metal material in it, depending on the condition of the vehicle.

Rebuilt Titles

It is important to know that a rebuilt car title used to be a salvaged car title. If a person owns a salvaged car and wishes to rebuild and restore it, they can do so, but not without some degree of difficulty. First, it is usually very costly to repair a vehicle that has been written off as a total loss by an insurance company. For this reason, many people do not choose to restore a totaled vehicle. Banks are not likely willing to approve financing or loans to repair a vehicle either, so the car owner would be entirely responsible for all repair costs. Second, finding an insurance policy to insure a rebuilt vehicle may be difficult, or expensive. A person might not be able to find full coverage, and will only be able to get covered for general liability. And last, a salvaged vehicle can only be rebuilt by a licensed car re-builder, and then must pass the state inspection to be approved and given a rebuilt title. So this means a person cannot just find a neighborhood mechanic repair their totaled vehicle.

Cash for Cars

Junk Car Buyers 317-450-3721

Junk Car Buyers 317-450-3721

Call Cash for Cars at 317-450-3721 to sell a salvaged vehicle in Indianapolis, Indiana. We pay cash on the spot for junk cars, wrecked cars, car parts, cars with salvaged titles, and much more. You can expect the highest and most honest payouts in the city. We even provide free towing and haul-away services. Call 317-480-3721 for information about selling a salvaged car in Indianapolis, IN.

Advice for Selling a Wrecked Vehicle

Cash for Cars Indianapolis 317-450-3721

Cash for Cars Indianapolis 317-450-3721

This might come as a surprise to you, but a wrecked vehicle can still retain monetary value no matter how bad its condition may be. Once a vehicle is totaled, people consider it a junk car or truck. Although the term “junk” references “uselessness”, junk vehicles are anything but. There are several types of valuable metal and automotive parts within the car that are reusable. Metal like platinum, copper, iron, steel, and aluminum can all be recycled and reused in other industries.

Car parts that haven’t been damaged in an accident can also be dismantled and reused as replacement parts for other vehicles. For these reasons and more, wrecked vehicles are worth a bit of cash. Continue reading to learn how to sell a scrap vehicle in Indiana, and get cash for something you thought was junk!

Junk Car Buyers

Junk car lots and metal recycling centers are the best option when it comes to selling a wrecked vehicle in Indiana. They are generally licensed junk car buyers, and often times, sell used car parts too. If your vehicle still drives, you can simply arrange a ride and drop the vehicle off at one of these spots, yourself. Or, if the vehicle doesn’t drive, you can have it towed to the junk car lot instead. Many companies that offer cash for cars also provide complimentary towing and haul-away services. This means, by choosing a reputable company, you can save $50 on a tow and have them pick it up and haul it away for free!

Here’s how to get started:

Locate the Title. You must be the legal owner of the vehicle and provide the title as proof. Without the title, the car cannot be worth as much money, and might not be able to be sold at all.

Look for an Auto Salvage Company. Be sure to do your research and find a reputable and experienced cash for cars service. Look for company history, experience, years in business, and licensing. These qualities are a good indication that they can offer you reliable and honest service.

Select an Offer.
After calling around and talking to a few different junk car buyers, select an offer that is the highest, or choose the company you feel most comfortable doing business with. On top of a good offer, choose a company that can provide extra customer conveniences, like free haul-away, pickup, or towing.

Cash for Cars in Indianapolis

Junk Car Buyers 317-450-3721

Junk Car Buyers 317-450-3721

Call Cash for Cars at 317-450-3721 to get the most money for your junk vehicle in Indianapolis. We offer free haul-away and towing services if your vehicle doesn’t work, or you can simply drop it off to us and we will hand you cash on the spot! We are happy to provide free estimates and information about selling a wrecked vehicle in Indiana, any time. Just call 317-450-3721 and speak with a company representative about selling a junk car in
Indianapolis
, IN today.

Sell Your Junk Car to Indianapolis Cash for Cars and Get Free Towing and Pickup Services!

Cash for Cars Indianapolis 317-450-3721

Cash for Cars Indianapolis 317-450-3721

Indianapolis Cash for Cars is located on Mickley Avenue, near Rockville Road on the West side of Indy. We offer a wide range of services and amenities that make us the greatest junk car buyers in the city! For more than 20 years, Indianapolis Cash for Cars has provided Hoosiers with exceptional junk car sales, consulting, and junk vehicle buying services. We are a highly established and experienced junk car business that retains a surplus of premium resources and state of the art equipment. These assets and qualities allows us to offer unbeatable offers and quotes for junk cars in Indiana. Our competitors cannot keep up with the prices we offer when purchasing old cars and trucks!

We Buy More Than Just Cars!

Not only do we buy cars and trucks, we also make offers towards a wide variety of motorized commodities; such as boats, water-crafts, jet skis, trailers, semi-trucks, buses, construction equipment, scooters, mopeds, motorcycles, and anything else made from metal that runs on an engine. To make the process of selling your junk vehicle to Indianapolis Cash for Cars, we offer the best amenities and additional services for all our clients; including FREE pickup and towing services! This means you only need to make a quick phone call to our professionals, and we will promptly dispatch a tow truck and assessment team at no additional cost or obligation to you!

Call Cash for Cars Indianapolis Today!

Junk Car Buyers 317-450-3721

Junk Car Buyers 317-450-3721

c at 317-450-3721 and get a free quote for your junk vehicle or old car right now. For questions regarding junk car sales, selling an old car, or junk car buying, reach out to our local professionals anytime. Visit our website today at http://www.cashforcarsindianapolis.com/junkcars.html for details about our services and company background.

We provide 24 hour services seven days a week! We offer the highest returns for junk cars in Indianapolis. Trust no one else when it comes selling your junk vehicle. Contact us today at 317-450-3721 and make fast cash by selling your old car or truck today.