3 Factors Used to Calculate Junk Car Actual Cash Value

Posted on October 15, 2021 by Benjamin

If you are preparing to sell a junk car, you will come across the term, Actual Cash Value (ACV). This term is important to the total profit you make from your junk car. To calculate the actual cash value of a junk vehicle, you must use 3 impressionable factors. Continue reading to learn which 3 factors are used to calculate junk car ACV, and where to get the most money for yours in Central Indiana.

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Actual Cash Value for a Junk Car

Although there are various other factors used to calculate the actual cash value of a junk car, the top three most impressionable factors include book value, fair market value, and the replacement cost. Additional factors might include the age, make, model and condition of the vehicle, as well as the location, difficulty of removal or transport, and the particular discretion of the buyer.

❶ Fair Market Value

Fair market value is similar to the blue book value, but not entirely the same. Both values are often used in combination to estimate the worth of a vehicle. Fair market value is also referred to as wholesale or retail value among auto dealers. Because of the ambiguous definition, fair market value is often used to the insurance company’s advantage when claiming a total loss vehicle.

❷ Book Value

Book value is the closest value to actual cash value (ACV). It is best described as a vehicle’s common value. Top resources for finding book value are Kelly Blue Book, NADA, and similar book value directories.

❸ Replacement Cost

Replacement cost is the retail market value of the same car when purchased brand new, minus a set standard of depreciation and damages. If you were to total your car right now, the money you would receive from the insurance company would be the replacement cost. This factor is mostly used for newer model or brand new vehicles.

Calculating the value of a junk car is done differently all across the nation. It is important to check with your local and federal laws to ensure that you are receiving a fair offer for your junk or total vehicle.

Are you looking for a trusted cash for cars company in Indiana that will pay you top dollar for your vehicle? Contact Benjamin’s Junk Cars at 317-218-7133 to sell a junk car in Indianapolis, Indiana for cash on the spot. We provide free junk car haul away, so all you need to do is call!

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What You Want to Know About Diesel Car Engines

Posted on April 21, 2021 by Benjamin

The idea is starting to cross seas, and make its way into the United States. We are talking about diesel cars, that is! In Europe, almost half of the cars manufactured are made with diesel engines. This trend is leaking its way into the states, where less than 5% of new manufactured cars are made with diesel engines. That’s a big difference! So why are American manufacturers warming up to the idea of diesel-powered vehicles? Why are people choosing diesel more and more each year?

Continue below to learn some of the pros and cons of owning a diesel-powered vehicle, and what to do if you cannot afford to replace your car engine in Indianapolis.

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The Advantages of Diesel Cars

Many people imagine a loud, noisy, black smoke-producing vehicle when they think about diesel car engines. However, with the growing available resources and improved technology, these drawbacks are a thing of the past for diesel engines. Rather than the standard diesel we have always thought to know, newer versions of diesel engines are designed to operate on an innovative low-sulfur version of diesel fuel, which is partly responsible for reducing noise levels and excessive exhaust smoke. It is commonly referred to as “clean diesel” because it significantly reduces air pollution and malodorous exhaust fumes.

The increasing gas prices of unleaded fuel are probably why many Americans are interested in making the switch once it comes time to purchase a new vehicle. With the new technological advancements in diesel fuel, as well as its additional advantage points, there is very little reason to not consider diesel cars as an option. Diesel car engines have caught the attention of consumers and car owners; but automakers also support the shift in order to meet new standards for fuel-efficiency.

The Downside to Diesel Engines

Diesel engines are more expensive than gasoline-powered vehicles. For some, the extended fuel efficiency and heightened fuel economy are not lucrative enough for them to spend an extra $2,000 or more on the same car with a diesel engine. Also, diesel fuel is prices higher than standard unleaded gasoline. On top of higher vehicle and fuel costs, not all gas stations provide diesel fuel options. This means it may take some planning-ahead if you want to make a switch to a diesel car.

One of the most talked-about disadvantages of owning a diesel-engine car is the limited selection of vehicles that come with a diesel engine option. Once diesel has proven to be high in demand, more and more American manufacturers will be inclined to produce more make and model cars with diesel engines.

Did your car engine take a turn for the worst and now your vehicle is a total loss? Contact Benjamin’s Junk Cars at 317-218-7133 to sell your junk car in Indianapolis for cash on the spot! We serve all of Central Indiana.

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Why Catalytic Converters Get You More Money for a Junk Car

Posted on March 24, 2021 by Benjamin

Catalytic converters are vital automotive components. They are in charge of eliminating excessive exhaust emissions that are harmful to the environment. But even when your vehicle is totaled or junked, the catalytic converter continues to have value. This means that a junk car with a solid catalytic converter intact, whether working or not, is worth more money at your average auto salvage lot.

Continue reading to find out why, and where you can get the most cash for your junk car or car parts in Indianapolis.

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Facts About Catalytic Converters

Catalytic converters are special because they serve such a critical purpose. It is thanks to their special design and structure, which allows them to work with extremely high temperatures. This means they are made from some pretty serious metals; platinum, rhodium, and palladium to be specific. These are known as precious metals, which are metals that are naturally-occurring and have high economic value. The different and unique properties of platinum, rhodium, and palladium make catalytic converters more efficient at what they are designed to do.

► Platinum – A precious metal that is dense, malleable, and ductile, making it perfect for high heat transfer applications like converting harmful exhaust emissions.

► Rhodium – A very rare precious metal mostly used as one of the catalysts in a 3-way catalytic converter. This is because it is extremely hard and resistant to corrosion.

► Palladium – A rare precious metal that is used in the manufacturing of catalytic converters because it retains natural properties like high density and very low melting points.

Catalytic Converter Repair and Replacement

Because catalytic converters are such important auto parts made from high-value materials, they are well-known for being expensive to repair or replace. For this reason, many older or problematic cars that experience breakdowns with their catalytic converters are often deemed totaled because it costs more to repair it than what the car is actually worth. The average cost to repair a catalytic converter is between $900 to $2500, more or less. Signs of a failing catalytic converter include a rotten egg smell, engine stalling, rattling noises in the undercarriage, or an illuminated Check Engine Light.

Junk Catalytic Converter Value

Because all metal can be recycled and repurposed 100%, infinitely, all junk auto parts have value; even when they are no longer mechanically functional. Accordingly, precious metals are even more valuable because of their amazing properties and economic price tags. For these reason, a junk car with an intact catalytic converter will be worth more cash than a junk car without one. Scrap values for junked catalytic converters vary depending on several factors, namely current market values for scrap metal.

Are you ready to sell your junk car because the catalytic converter is bad? Contact Benjamin’s Junk Cars at 317-218-7133 to learn how to make instant cash for junk cars in Indianapolis, Indiana! We serve all of Indianapolis and Central Indiana. Request a free quote, anytime.

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Why Earning Cash for Junk Cars is So Easy if You Live in Central Indiana

Posted on February 10, 2021 by Benjamin

If you are a Hoosier who resides in or around Central Indiana, and you have a junk vehicle or motorized asset that you need to get rid of, you are in luck. Because of your location and urgency to sell a junk car, the process for doing so is easier than ordering a pizza for delivery! That is because Benjamin’s Junk Cars is a leading Indianapolis Cash for Cars Company who maintains a broad service area all throughout the Central parts of the state and beyond! But that’s not all; our Indianapolis junk car buyers also provide a wide range of amenities and client conveniences, free of charge! Basically, we make it easier than any other auto salvage yard to sell a junk car, and we always pay CASH ON THE SPOT!

Continue below to learn why you should choose Benjamin’s Junk Cars as your Indiana junk car buyers, and how to get started as soon as today!

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Get Same-Day Service and Cash on the Spot for Junk Car Removal in Indiana

Here at Benjamin’s Junk Cars, we retain a long list of professional assets and resources, including the latest technologies and equipment for analyzing scrap metal in junk cars, as well as an extensive comprehension of the scrap metal market and current scrap values. This means that we are fully-equipped to deliver the highest standards of excellence in the auto salvage industry. And when we say the highest standards, we mean it!

You see, Benjamin’s Junk Cars pays the most cash for junk cars in Indianapolis, and throughout Central Indiana because of the resources and capital we retain at all times. We are the true industry professionals who can pay you the actual worth of your junk car, and even make the process of selling it easier than anything else you’ve sold before.

How to Sell a Junk Car in Indiana to Benjamin’s Junk Cars

You really do not need to do much to sell a junk car to our Indianapolis Cash for Cars Company because we basically do it all for you! Not only do we pay the highest payouts for junk cars, but we also provide free junk car removal, as we have our own in-house tow truck! Most other companies charge for this service, but here at Benjamin’s Junk Cars, we never do and never will! Additionally, because we are always ready and equipped to perform our jobs, we can usually provide same-day service! And this is free as well!

Here at Benjamin’s Junk Cars, our name is derived from the steadfast profit margins of our clients. After all, it’s ALL ABOUT THE BENJAMIN’S!

So, all you have to do to get rid of your junk car for cash on the spot is call our office at 317-218-7133, request a free offer, accept our offer, and then tell us when you would like for our truck to pick it up! From there, just sit back and relax while we head your way with a handful of cash! Not able to be present at the time of pickup? No problem. We can arrange alternative forms of payment, and still collect your vehicle at any specified time and location.

Contact Our Indiana Junk Car Buyers to Get Started Right Now

Contact us at 317-218-7133 and get a quote for your junk car. Then you can learn how it works and what you need to do to prepare your vehicle for pickup. Basically, just remove the license plates, front and back, and all other personal belongings. Then cancel the registration is necessary. From there, you just have to wait for us to arrive with your cash, and take that clunker away! Our service areas are far and wide throughout the state, so call now!

Where to Get Fast Cash for Clunkers in Indianapolis

Posted on January 27, 2021 by Benjamin

If you have an old clunker in the garage or backyard that is taking up space and giving you grief, it is time to trade it in for cash on the spot. Continue below to learn how to sell your clunker to a Junker right here in Indianapolis!

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The Condition of Your Clunker is Irrelevant

Whether you have an old tractor that burned up in a shed fire 40 years ago and has since been growing weeds out of every crack and crevice, or a brand new Honda Accord that you just recently totaled in a car collision, your clunker is still worth cold, hard cash, no matter its condition. Junk car buyers in Indianapolis accept all make and model motor vehicle, whether they run or not, and whether they have all of their parts or not! Literally, regardless of age, make, model, or condition, an Indianapolis cash for junk cars company will take it off your hands.

The secret to making the most money in the easiest way possible is to choose the right junk car buyer to do business with. Not all junk car companies even pay cash, while others do not offer free pickup nor free quotes. There are plenty of customer amenities that you should be looking for when choosing an Indianapolis auto junker. This includes things like free haul away for junk cars, as well as innovative technologies like electronic weight scales and metal analyzing equipment.

Where to Find a Good Cash for Cars Company in Indianapolis

The only way to find the best Indianapolis junk car buyer is to do your research. But there is really no point in doing that because you are already in the right place. Here at Benjamin’s Junk Cars, we put those Bills and Benjamin’s in your hand as soon as you let us pick up your car!

Choose Benjamin’s Junk Cars for the Ultimate Cash for Cars Payout in Indiana!

All you have to do to get started is call 317-218-7133 and get a quote for your junk car. After accepting the best offer you will find in all of Central Indiana, simply schedule a time for our in-house tow truck operator to come haul away your vehicle. No need to worry for towing, as we provide this service absolutely free! Other cash for cars companies will secretly deduct a towing fee from your final payout, but here at Benjamin’s Junk Cars, we never add in hidden or surprise fees! We pay you what we say we are going to, and we do it instantly! Best of all, as an established Indianapolis junk car buying company, we actually have the proper capital to pay you what your scrap car is worth. You get the most out of your junk car when you choose Benjamin’s Junk Cars in Indianapolis!

How to Begin the Junk Car Selling Process in Indianapolis

Simply contact us a call at 317-218-7133 and get a quote for your junk car. Then you can learn how it works and what you need to do to prepare your vehicle for pickup. Basically, just remove the license plates, front and back, and all other personal belongings. Then cancel the registration is necessary. From there, you just have to wait for us to arrive with your cash, and take that clunker away! Our service areas are far and wide throughout the state, so call now!

How to Sell Your Junk Car in Indianapolis Before the New Year Begins

Posted on December 30, 2020 by Benjamin

After today, there is only one more day left in 2020! So, now is the perfect time to plan how you will start the upcoming year off. What better way to begin the new 2021 year than with a hand full of cash? Well, if you have a junk car, or any other type of motorized vehicle (tractor, dozer, forklift, etc.), then you can make this New Year’s Resolution come true!

Continue reading to learn how, or more importantly, where, to sell a junk car in Indianapolis, or Central Indiana, all before the New Year is here!

Start Your New Year With a Wallet Full of Cash!

Here at Benjamin’s Junk Cars, we are devoted to providing an unparalleled level of excellence that is far beyond and Central Indiana competitor. Not only are we true junk car buying professionals who retain the proper resources and technologies to accurately assess your junked asset, but more importantly, we retain the moral integrity and business ethics to offer you a full and fair payout for your asset’s true market value. Even better, we retain the sufficient capital to pay you what you deserve for your junk car, plus provide additional benefits that keep your money in your pocket!

We offer FREE TOWING and PICKUP with our in-house tow truck.

This means no extra charge to haul your junk car away, like so many other low-level cash for cars companies do! Typically, these companies deduct the towing fee from the price they quoted you for your junk car. Many times, they don’t even tell you there is a towing fee until after you receive your payment and it’s too late! Here at Benjamin’s Junk Cars, we never charge for towing or haul away of junk vehicles, nor do we ever deduct hidden or surprise fees from our junk car quotes.

There is NO MIDDLEMAN in our junk car buying operations.

This means that you get paid more because we don’t have to pay additional parties to assist us with our junk car buying operations. Most other cash for cars companies in Indianapolis do not have their own tow trucks, metal detection technologies, and weight scales, so they have to pay other businesses to provide this service for them, which ultimately and inevitably comes out of your total earnings. At Benjamin’s Junk Cars, there is no middleman in our operations because we retain our own in-house tow truck, plus the latest metal detection technologies, including platform electronic weight scales!

How to Get Started With Selling a Junk Car in Indianapolis to Us!

Just call our friendly Indiana junk car buyers at 317-218-7133 to get a quote for a junk car as soon as today. We serve all of Indianapolis and Central Indiana, and pay cash on the spot for all junk cars, regardless of age or condition. In addition to accepting junked, antiqued, or totaled vehicles, we also buy motorcycles, semi’s, RV’s, vans, farming equipment, construction equipment, and anything else that runs (or once ran) 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!

The 101 on Selling a Junk Car in Indiana

Posted on November 25, 2020 by Benjamin

There’s always a better method out there, regardless of the task. As for selling a junk car, the same principle applies. Although there are several outlets and resources to get your junk car sold, there is only one surefire way to get the most money for your asset’s actual market worth. That way is to find a trusted junk car buyer near you. Not sure where to begin?

Continue below to get the 101 on selling a junk car in Central Indiana.

How the Junk Car Selling Process Works

Why do scrappers and auto salvage companies want to buy your junk car? The answer is simple: metal. The automotive industry uses a wide variety of different metals to manufacture vehicles, all of which is 100% recyclable, and therefore, reusable. When you sell a junk car to a junk car buyer, you are trading them your total loss vehicle for a form of payment. Most companies pay cash or check, while some give credits or coupons to local businesses.

Follow These Steps to Sell Your Junk Car:

► Contact an Indiana Cash for Cars buyer near you. Request an over-the-phone quote for your junk car to receive an offer. Give them as many details as you can about the vehicle, including the location.

► Choose to accept or deny the offer. If you accept, you will schedule a time for them to collect your junk car. Some companies charge a tow away fee, some deduct the fee from the offer, and others provide this service for free.

► Remove all of your personal belongings. This includes license plates and front plates, as well as garbage, emergency roadside kits, and aftermarket CD or stereos that you want to keep. You need to also cancel the registration with the state.

► Trade any needed documents for cash. When the tow truck operator arrives to collect your junk car, hand over any agreed upon paperwork or documents, and then receive your form of payment.

Central Indiana Junk Car Buyers Who Pays the Most Cash Around

Call Benjamin’s Junk Cars at 317-218-7133 to get a quote for your junk car in Indianapolis, or within Central Indiana. Our experienced Indianapolis Indiana junk car buyers accept all junk cars, regardless of age or condition, and WE PAY CASH ON THE SPOT! We buy also take boats, motorcycles, farming equipment, construction equipment, and anything else that runs on fuel! With cash payments, free quotes, and free pickup, there is no simpler way to sell a junk car in Central Indiana. Get started with a free phone quote, today.

Is There a Limit to How Many Junk Cars I Can Sell?

Posted on August 25, 2020 by Benjamin

Having a junk car might seem like a wet blanket, but once you learn the truth to their value, you will be pleased to deal with it accordingly. You see, a junk car is junk, but it is junk that is worth cash in hand. Junk cars and trucks contain a large amount of metal, which is 100% recyclable and reusable. Recycling scrap metal has a positive impact on our local economy, as well as our environment as a whole. So, if you have one junk car, you are in great luck. There are many who want to buy it from you, and the process is simple. But what if you have more than one?

Are you stuck with managing them all on your own? Can you find a buyer who would take all of your junk cars at once? Continue reading to find out.

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The Key to Junk Car Selling Success

It’s true that there are hundreds, possibly even thousands, of junk car buyers to choose from in close proximity. This might appear that selling a junk car is as straightforward as it sounds. But this is simply not true. There is a method to selling a junk car, that is, if you want to get the most money for it, plus reap all the wonderful amenities you’d expect from a Cash for Cars Company. Such amenities include free assessments, innovative technologies to assess metal content in cars, free towing and haul away, and of course, the ability to procure multiple junk cars at once, from one seller.

Why would you have more than one junk car to sell? You might not even realize that you have more than one because it’s not just cars they buy! Anything that used to run on fuel, or has a motor, retains a nominal amount of metal that can be reused. This means that everything from construction and farm equipment, to motorcycles, boats, cranes, scooters, golf carts, jet skis, used auto parts, and more can be sold to your local and trusted Cash for Cars Company.

How to Sell More Than One Junk Car at a Time

If you choose a reputable and well-equipped junk car buyer, you can be sure that they will buy all the motorized commodities you have to sell. Such companies are equipped with their own, in-house towing operations, which means you do not have to outsource a tow truck for your junk cars yourself. Most junk car companies provide this service for a small fee, which is ultimately, deducted from your total payout. Some companies offer towing service for free. Keep in mind that most junk car companies are limited when it comes to the number of available tow trucks on duty. This means that you might have to wait a few days for them to collect all of your junk cars or motorized commodities.

Free Towing and More at Benjamin’s Junk Cars in Indianapolis

Call Benjamin’s Junk Cars at 317-218-7133 to sell junk cars in Indianapolis, Indiana. Our experienced junk car buyers 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!

How to Gauge the Value of Your Junk Car

Posted on August 5, 2020 by Benjamin

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!

How to Find the Best Offer for Your Junk Car

Posted on May 27, 2020 by Benjamin

When you have a junk car to get rid of, you should feel good. That is because your junk car is worth cash; cash that will be paid by a local scrap metal buyer or junk car dealer in your town. However, not all Cash for Cars companies will make a good offer. In order to find the best deal for your junk car’s scrap metal, you must follow some secret industry tips.

Continue below to learn them all!

How a Junk Car is Appraised

The types of technologies and methods used to appraise your junk car will differ depending on which company you choose. You want to choose a company that retains innovative, high-tech electronic scales, and similar resources, which when combined, can provide an accurate evaluation. In fact, there are two main factors that junk car buyers are looking for in the vehicles the procure: the car’s condition, and the car’s weight.

When a junk car arrives at the scrap dealer, it is placed on an electronic scale platform to obtain its weight reading. Using this reading, the scrapper will apply the current market values for metal to the equation, along with other variables, such as the car’s condition. Then they will deduct their fees from that total. This is how junk car buyers come up with their offers.

How to Get the Best Junk Car Appraisal

First, be sure to do your research and find a local junk car buyer that is well-established, and has a good reputation in the community. Use client testimonials and online reviews.

Find a junk car buying company that has the lowest fees. For instance, choose a company that offers free towing, so that they do not charge pickup and haul away fees.

Review the current market prices for metals before you have your junk car appraised. This will give you a good idea of what to expect, and how to better spot a bad offer.

Along with metal prices, learn the curb weight of your vehicle, especially if you are planning to bargain a flat-rate for your junk car. Refer to the owners’ manual for vehicle curb weights.

Ask the junk car buyer to verify the accuracy of their electronic scale. To do this, simply ask if you can weigh yourself! If you weight over 160 pounds, but the scale reads under 90, you can safely assume they are set up to scam people.

Many scrap metal dealers will make their offers in gross tons, rather than in pounds. Request to have your price quoted in pounds. When they round down to the nearest ton, clients end up losing money.

The Trusted Indianapolis Junk Car Buyers

Call Benjamin’s Junk Cars at 317-218-7133 to get a quote for your junk car. Our experienced 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!