When it comes to scrapping your junked car, you probably already know that its value will be significantly less than a non-junked or totaled vehicle. However, you have a BMW. Does that mean your junk car is automatically worth more than one that is a non-luxury brand? The truth of the matter is, junk car values are always evolving because they depend largely on the current market prices of steel and iron, as well as several other factors, like supply and demand, global tariffs, and even smaller factors like the location of the vehicle and its remaining parts. These factors, plus many more, will ultimately determine how much your junked BMW is worth.
Continue reading to learn more about determining the price of a junk car, plus where you can get the most profit for your junk BMW in central Indiana.
Calculating the Worth of a Junk Car
You might have heard stories of getting $500 to $600 cash payments for junk cars, but the economy has greatly shifted since those decades. Right now, the worth of a junk car is mainly determinate based on the quantity of metal within and the current scrap metal market. The current scrap metal market fluctuates depending on several sub factors, such as supply and demand, global demand, global trade tariffs, and much more.
Top 2 Factors That Affect the Scrap Metal Market:
▷ Quantity of Metal
The more metal in a junk car, the more it will be worth. Metal within a junk car is weighed as a base calculation for generating a junk car offer. Primary metals within a junk car are steel and iron, but there are also other valuable metals within if the parts are still there, including aluminum, copper, platinum, rhodium, palladium, cobalt, and even gold.
▷ Global Economy
The global economy, specifically the supply and demand of the sought-after metals within cars, plays a major role in the overall worth of your junk BMW. The global economy fluctuates on a daily basis, which can give rise to or trigger decline in the values of certain metals on the market.
Look For Localized Details
In addition to the scrap metal market, the worth of a junk car is also calculated based on its make, model, condition, location, remaining auto parts, difficulty of tow, and any related fees for junk car removal. For these reasons, it is important to choose in Indianapolis junk car company that provides free junk car removal and never tax on hidden or surprise fees to their offers.
BMW Junk Car Value
Steel and iron are the primary metals extracted from junk cars in the auto salvaging industry. Right now, their values are low. Whole junk cars are estimated at a value between $100 and $300. Newer model junk vehicles can deliver profits closer to 500 or $600. When you deduct all factors, you can safely assume to get between $100 and $400 for your junked or totaled BMW.
If you have a total or junk BMW in Central Indiana that you want to sell for the highest amount of money possible, you are in the right place. Contact Benjamin’s Junk Cars at 317-218-7133 to get started with the junk car selling process in Indianapolis, Indiana. We offer free junk car removal and pay cash on the spot!