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!

Top 5 Factors Used to Determine the Total Loss Value of a Car

When you total a car that is insured, your insurance carrier will use their own proprietary software, along with state and federal requirements, to calculate the actual cash value of your vehicle. Actual Cash Value (ACV) refers to the real amount of cash your vehicle was worth at the time of loss. Unless you have a classic car that is covered under an “agreed value” policy, your insurer will likely use several factors, in addition to their own business model formula, to determine the total loss value of a junk car.

Continue reading to learn the top 5 factors used to make this determination, as well as, where you can get paid top-dollar for your totaled car in Indianapolis.

Totaled Car Buyers 317-450-3721
Totaled Car Buyers 317-450-3721

Total Loss Vehicles

A total loss vehicle is a car that is so damaged that the cost to repair it is higher than the actual cash value at the time of the loss. Although every insurance company has their own formula for calculating the actual cash value of a totaled car, all carriers will use these five factors to start their estimation:

❶ Year
❷ Make
❸ Model
❹ Mileage
❺ Condition

For instance, a 1984 Chevy Camaro with 200,000 miles that has been submerged underwater for several years will be worth much less than a 2016 Chevy Camaro with 45,000 miles that has just recently been totaled in a collision.

Totaled Car With No Insurance? Or No Title?

If you total a car that is not covered under an insurance policy, your best option is to sell it to a local Indianapolis Cash for Cars Company. They will use a combination of electronic weight scales, XRF analyzers, and proprietary software to calculate the actual cash value of your vehicle now that it is a total loss. You will need the car title to sell a totaled car for cash to a junk car buyer in Indiana, so read our blog “How to Replace a Lost Car Title” if yours is lost or destroyed.

Where to Sell a Totaled Car in Indianapolis

Call 317-450-3721 to sell a totaled 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.