When it comes to calculating the scrap value of a car, it can seem tough or like it’s “rocket science”. Thankfully, we have eliminated the difficulty and want to pass this easy formula to you!
Chances are, that you may receive various offers for your old vehicle, when dealing with a plethora of cash-for-car companies and businesses. All of them use the same and most basic formula when quickly establishing scrap car prices. Junk car and scrap car buyers use this basic and easy formula to offer the absolute smallest amount of money for which they can obtain your vehicle. Once you know this formula, you will have a “ballpark” figure or estimate that will shield you from getting “taken” or “lowballed”.
First, you want to figure the minimum value of a junk car, or scrap car with this estimator formula. You begin my multiplying the weight of the vehicle, by the current price for scrap metal. So, your calculation will look like the one below:
weight of car in tons x price of scrap metal per ton
Many vehicles are stripped for their parts. Other junk cars or scrap vehicles are not in a decent shape. Therefore, a scrap yard will sell the vehicle’s essential metals to companies such as car manufactures and building companies- rather than selling off the car parts. Additionally, if some of the car parts can be sold, those scrapyards will oftentimes utilize the scrap vehicle estimator formula as a calculated value for the lowest value -meaning your vehicle’s minimum value. Then, that value will be offered to you. Check out the way that you can obtain the weight of your car as well as determine metal prices, ensuring that you get an accurate calculation with the estimator formula:
You can get the weight of your car several ways. The first is by reading your owner’s manual. You can also obtain the weight of your car by looking on your side door, where the VIN number is. The third way you can get the weight of your car, is to check with the manufacturer of the car. The final way you can get the weight of your car, is by going online, and typing the specifics of your car.
Now comes time for you to obtain the current price of scrap metal. You can click here and gather what metal is going for.
It’s important that you know the prices of scrap metal, so that you see what metals are in demand. You also want to check to see what specific metals are going for, from various locations. While metal prices tend to fluctuate daily, you want to keen eye on the metal prices, and look for a great opportunity to sell your junk car when you see that metal prices are high in your particular region. Did you know that steel makes up about 60% of the metal content in your vehicle? Aluminum, another precious metal, accounts for about 10% of the weight of most vehicles- give or take a bit. Even though most vehicles most only have a small amount of aluminum, this precious metal can still be worth just about one-half the total scrap value of your vehicle.
Not only does the weight of a vehicle and current prices of scrap metal play a role in the offer you will receive for your car, but there are other factors that affect your vehicle’s value. Check out some of those factors below:
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When you visit the Cash Cars Buyer website, you’ll find that our website is easy to use, and filled with resources that help you decide what’s best for you- regarding selling your car! Our website offers:
Get the helpful car care tips and information you need, to help you make an informed decision when it comes to selling your car!
No need to wonder how we do business. You’ll see it in “black and white” on our website!
One of the most popular places on our website, is the FREE online offer tool! You can obtain a free offer on your car in a matter of seconds! Just take the time to tell us all about your car, and then you will receive a FREE offer on that car in a matter of minutes!
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