Before selling your junk car, you might want an idea of how much a buyer might offer. This can give you a great foundation to work from when shopping around for a junk car company. Although there are several factors and mathematics involved that will render an accurate estimation, you can use a basic calculation to determine the average value of your junk car.

Continue reading to learn which two factors to consider when assessing junk car worth, and how to apply them in your calculations.

Junk Car Factors to Consider

As mentioned, there are many factors that impact the actual cash value of a junk car. Such factors differ even more from vehicle to vehicle since each one has a different story. But, of all the primary factors that are used to assess junk car value, there are two you can focus on to estimate your own vehicle’s worth. These are the current scrap metal prices and your vehicle’s metal composition.

Scrap Metal Prices

Scrap metal market prices are perhaps the most influential factor to how much a junk car buyer will appraise your car for. The challenge here is that scrap metal prices constantly fluctuate, and furthermore, remain incredibly sensitive and reactive to micro and macroeconomic conditions. For this reason, a 1994 Toyota might have been worth more 3 years ago than it is today, or vice versa. The scrap metal prices to concentrate on include steel, aluminum, lead, copper, platinum, and palladium.

Metal Composition

The amount of metal inside your junk car will also play a large role in how much you can get from a buyer. Not only do you need quantity, you need quality. The better the car parts, the more they are worth. For instance, if your junk car comes equipped with a functional catalytic converter, you can expect more of a payout. You see, catalytic converters contain platinum and palladium, which are precious metals, and therefore, higher in economic value.

Where to Get Paid the Most Cash for Junk Cars in Indiana

Call Benjamin’s Junk Cars at 317-218-7133 to get the most cash for junk cars in Indianapolis, Indiana. Our experience junk car buyers serve all of Indianapolis and its surrounding areas, and pay cash on the spot for all junk cars, regardless of age or condition. We buy cars, trucks, motorcycles, farming equipment, construction equipment, and anything else that runs on fuel. With cash payments, free quotes, and free pickup, there is no easier way to sell a junk car in Central Indiana. Get started today!