how much is my wrecked car worth
Many people are unaware that they can sell their wrecked cars to scrap yards in order to be paid for the actual metal content of the vehicle. The amount of money received for any wrecked car depends on several different factors and all of these must be considered before agreeing upon a reasonable price.
The Make and Model
The make and model of the wrecked car is important to salvage yards because they can check to see what parts they may be able to rescue from the car before scrapping the rest of the metal. Cars that are more unusual or more expensive to manufacture often go for a higher selling price than more common cars simply because the parts that can be salvaged are in higher demand than others. Also, salvage yards can determine exactly how much metal the car contains from obtaining the make and model from the seller; older cars typically have a much higher metal content than cars that have been manufactured in the last one or two decades.
Providing the year of manufacture for a vehicle provides a lot of the same information to a scrap yard as the make and model. Providing this information gives the salvage yard a better idea of what parts may be available on the car, how much metal is contained in the car itself, and how likely it is that the parts found in the car will be sold quickly and for a high price. All of these things in combination are factored together before the seller of a wrecked car is provided an estimate for his or her vehicle.
The condition of a wrecked car is extremely important to scrap yards; often, they will want to know exactly how much damage the car has sustained and where it is located—the front quarter panel, the entire rear end, the left side and so on. For instance, if the car’s front end has sustained a large amount of damage, the likelihood of salvaging any parts that can be resold for value is greatly diminished. This will have a huge impact on the amount of money the owner will receive. On the other hand, if the car is wrecked in the back, the salvage yard could possibly salvage the engine and transmission as well as other valuable items; this results in a bigger payout to the car owner.
The Highest Bidder
As with any sale, the owner of a wrecked vehicle should collect as many bids from salvage yards as possible. This is because different vehicles may be of more importance in some areas than others. For instance, a common vehicle may be in demand at a single salvage yard that provides parts while it may not be as valuable to a scrap yard that will simply scrap the vehicle for its metal content. It is important to accept the highest bid in order to get the most money possible from a wrecked car.
Selling a wrecked car to a scrap yard is a great way to make a bit of extra cash from a very unfortunate situation. Before doing so, owners should always check with their insurance companies first; sometimes any proceeds must be sent to the insurance company as part of claim requirements.