Scrap Metal Market and Junk Cars
How do market changes affect the value of junk cars?
The Value of Scrap Metal
Now is the perfect time to get rid of your used car or truck! The price of scrap metal and other scrap materials can change dramatically due to global trade markets and metal import tariffs. For example, the price of scrap steel and iron has nearly doubled over recent years, as US-based processors are looking to get more material.
Junk cars generally contain a lot of steel, especially older cars. Aluminum and copper are also able to be recycled and scrapped from cars. If you have a junk car you can think of it as metal reserves sitting unused in your yard, and there are junk car removal services in New Jersey who are happy to remove them and give you cash on the spot.
Is My Car a Junk Car?
The term "junk" is often thrown around a lot and it tends to mean a few different things. The value of the car can be determined by a few different things such as the fact that it won't start. Perhaps it even got into an accident and it was torn to shreds and is no longer driveable. Maybe you even have a car where the cost of fixing it outweighs the amount of money you would be willing to spend. These are all considered junk cars, or some people know them better as salvage cars.
Another popular reason for calling a junk car as such is because you have something like a yard or a driveway and the car is in that space and cannot be moved. While all of these can be detrimental circumstances for the owner of the car and the car itself, there are things you can do in order to get rid of your car. In many cases, depending on where you live and the car in question; you can even get money for the car. These days all sorts of things are sold for profit, so it shouldn't be that big of a surprise that there is a way to get cash for salvaged vehicles. If you live in New York or New Jersey there are many reputable companies that offer cash for junk cars.
Copper wire and components are another popular type of scrap material, often found in car electronics and batteries. The US is currently exporting a huge amount of copper waste, meaning that demand is high and prices are great for any junk car owner who’s seeking to turn an old clunker into cash conveniently and quickly.
Getting Rid Of Your Entire Car
If you just really want to get rid of the car altogether, you have a few options available to you.
Sell It Yourself - If you aren't interested in donating, selling the car is an option. While this allows you to set your own terms, it can often take longer and be harder to guarantee you're getting a good deal, especially if the car is heavily damaged or isn't driveable.
Recycle the Parts - Somewhere around 85% of a vehicle can be recycled for other uses, including tires, metal body, frames, glass, wiring, electronics, and even upholstery. However, it requires knowledge, the right tools, and experience to recycle a car safely into scrap materials. To top it off, cars also have a lot of contaminants like antifreeze, gas and oil which can cause some environmental issues if not disposed of properly.
Selling It As-Is To A Junk Car Business - If you don't want to sell the car or its individual parts yourself, plenty of junk car removal companies will tow away the car and give you cash for it. No headaches involved, and you get to remove the eyesore sitting on your property. They'll evaluate the car based on a variety of factors like manufacture date, mileage, damage or wear & tear. This is a quick and convenient way to get the most value out of junk cars.
Scrap Metal Prices in US
Essential information for scrap metal collectors and operators in the scrap meta recycling sector, scrap metal prices can change daily. Scrap prices can vary between local markets. Still, the prices listed online should help you understand monthly trends in U.S., click to check current scrap prices.
DMV Junk Vehicle Requirements
What if you just want to get some money out of the remaining decent parts?
Each state has its own junked vehicle requirements, but you might have to:Complete junked or salvaged auto paperwork. Sometimes this is called a Damage Disclosure Statement, and is included on the back of the title. When it’s not, your DMV will provide appropriate paperwork. Show the vehicle title and proof of registration.
(Be sure to find out whether the junkyard requires this, too.) Relinquish the license plate(s).