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.
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!