What Is The Scrap Value Of My Car?

What Is The Scrap Value Of My Car?

Do you want to scrap your car? A common question may arise in your mind: What is the scrap value of my car? Don’t worry you can check the scrap value of a car by following these steps:

1. Calculate Using Formula

The simple and easy way to know the scrap car’s value is to use the famous formula. Here is the formula: 

Scrap Car Value = Weight of Car × Price per Unit Weight of Scrap Metal

Example:

If the weight of your car is around 2500 pounds and the current price of steel is CA$0.15 per pound.

Scrap Car Value = 2500 pounds × CA$0.15/pound = CA$375

Hence the scrap car value will be CAD375.

2. Use Online Tools

You can use online calculators to estimate the scrap value of a car. Visit Scrap Car Value Calculator Canada to calculate the car’s value. These types of online tools can give you a rough estimate of your car’s scrap value based on its make, model, year, and condition.

3. Get Valuation from Scrap Yard

The best and the most accurate way is to contact the scrap yards directly and get a quote from them. They will give you the probably the most accurate valuation of your vehicle. You can contact our 24/7 available team of Junk Car Removal Mississauga for the valuation.

Factors Influencing the Scrap Value of a Car

Here are the factors that affect directly the value of a vehicle:

  1. Car Weight and Metal Content: Most scrapyards look for a vehicle with more metal. Because heavier vehicles, like trucks and SUVs, generally fetch a higher price due to their larger amount of metal. On the other hand, the small cars will get less price compared to the heavier ones.
  2. Market Prices for Metals: The value of scrap metal fluctuates based on global market conditions. When metal prices are high, the scrap value of your car will increase correspondingly.
  3. Condition of the Car: The condition of a vehicle also impacts the price of the vehicle. Scrap Yards or Auto recycling companies mostly pay less money to damaged and old cars compared to cars in good condition. 
  4. Demand for Parts: A popular or rare car model may have parts that are in high demand, which can increase the overall value of the car. So, you will get more money for a rare and popular model. However, the components like the engine, transmission, catalytic converter, and electronics can be sold separately for higher profits.

Conclusion

There is no doubt that many factors affect the price of a junk car. However, you can check the scrap value of a car by using an online tool, applying the formula, or contacting a scrap yard directly.

Share this post

Leave a Reply

Your email address will not be published. Required fields are marked *