Junk cars are valuable because they contain metal, which is 100% recyclable, and can be melted down and repurposed infinitely. So, even if a junk car is deemed a total loss, it is still worth some cash, but the amount of cash depends on several factors. The most important and influential factor, however, is current market value for metal. Basically, when the price of metal is down, a junk car is worth less; and when the price of metal is up, a junk car is worth more.
Still unclear? Continue below to review some frequently asked questions about scrap metal prices and junk cars, including where to get the highest payout for your salvaged vehicle in Indiana.
What are the Market Values for Scrap Metal?
The values of scrap metal are always changing. To see the current market values for scrap metal, visit https://iscrapapp.com/prices.
Why Does the Price of Scrap Metal Change?
The prices of scrap metal are influenced by several factors. Examples of such factors include time, market demand, stock exchange prices, supply, the price of virgin metals, and the cost of energy and production. China’s economy also has a major influence on scrap metal values. On a smaller scale, the prices of scrap metal and their value change on a daily basis in local markets. From this perspective, the daily price fluctuations are caused by various factors. The quantity of metal available, the quality of that metal, labor costs, overhead costs, types of metals available, and more all influence the rate of metal prices in local markets and how often they change on a daily basis.
What Kind of Metal is in a Junk Car?
Vehicles manufactured today mostly contain steel and aluminum. They also contain an average of 55 pounds of copper wiring, as well as, some nominal traces of precious metals. Steel can be found in everything from the chassis and body panels, to the doors, rooftop, and more. Aluminum is predominantly used in auto parts like radiators, wheels, transformers, and more. As for precious metal, traces can be found in the form of gold plated fingers inside computer circuit boards for electronics like GPS systems and DVD players. Platinum and palladium can also be found in the lining of catalytic converters.
How Much is My Junk Car Worth?
As mentioned, the current values for scrap metal have the largest influence on the overall value of a junk vehicle. However, there are several more factors that appraisers use to assign value to a junk car, and therefore, make an offer. Primary factors, in addition to scrap metal prices, include the age, make, and model of the vehicle, as well as, the location of the vehicle. The better the condition of the vehicle, the more it is worth.
Where Can I Get the Most Money for a Junk Car in Indianapolis?
Call Benjamin’s Junk Cars at 317-218-7133 today. We only make honest offers for junk cars, and stand by our services 100%, so call soon to get an instant quote. Whether you have an old truck, a rusted chassis, or a totaled two-door, we will pay you CASH ON THE SPOT for it all. And the best part is, our Indianapolis junk car buyers are able to offer the fullest and fairest payouts for junk cars in town because we cut out the middle-man. We offer flexible scheduling, same day service, and adhere to all Indiana EPA regulations for auto recycling.
