Recently we were talking to a few scrappers through private messages on our Facebook page about scrapping cars. The question was asked, “Are cars worth scrapping when the prices are so cheap?”
Well…I guess there are a lot of answers to that question, so let’s go over them.
What About When Prices Are High?
When cars were worth $3-500 each in scrap value (all depends on the price and the weight of the car), it is an easy answer…scrap it and get paid! Back in 2009, when the “Cash For Clunkers” program when into effect and people were trying to get higher fuel saving and tax savings through the government programs, car scrapping/recycling was at an all-time high. People were encouraged to sell their cars and do just that.
When you sell your car (or any car for that matter) for scrap, you have to sell it as a complete vehicle. This way, you ensure the scrap yard that they can make money from the aluminum, the rims, the battery, etc. However, when times get tough, this is when the rules of scrapping seem to change.
What About When Prices Are Low?
There are many options when scrap metal/iron prices are low, so let’s go over a few.
- Hold onto the vehicle. This way, you have a few options for your scrap cars. You can try to sell it for parts, put it online for a junkyard or fellow car aficionado to buy, or hold onto it.
- Part it out. Selling the car for the parts may work, and then you can make money off the battery, the rims, and even the catalytic converter. Sometimes you may even get lucky and find someone with the same car and always looking for parts for it.
- Sell to a junkyard. Junkyards or auto salvage yards are different than scrap yards and, many times, will sell parts to customers and be able to make more money off of the car…thus being able to buy your old vehicle for a little more than just scrap value.
Do I Need A Title To Scrap A Vehicle?
The answer…most of the time, is yes. Depending on your state laws, you may or may not need a title to scrap a car, but assume that you always need one. In some states if you cannot find the title of the car but you can produce ownership paperwork such as registrations or insurance info, you can fill out a form at your scrap yard to release ownership to them. This is not always true but it is worth asking your yard in case that you can’t find your title when you want to scrap your car.