Getting rid of an old car is something almost everyone will need to do, at least once in their life. It should be simple and easy, but there are things to be aware of.
Here are some Frequently Asked Questions from Scrap My Junk Car. We’ve been proudly serving the Greater Toronto Area since 2005 and have a 5-star rating.
First, we encourage you to watch the video below. This video is a perfect example of what NOT to do, and when a car is driven past the end of its life! (Caution: DO NOT DO THIS!)
When your car will cost MORE to maintain than what is it worth. Sometimes owners of cars have an emotional attachment. This sometimes leads to an unrealistic estimation of that vehicles value. We suggest checking out what cars like your are listed for (asking price) in the marketplaces (Facebook/Craigslist/Kijiji/Ebay). If you have a 2006 Honda Civic with moderately high mileage, check to see what others are listed for as an asking price.
NOTE: ASKING PRICE DOES NOT MEAN THE SELLER IS GETTING THAT PRICE. Over 90% of asking prices are negotiated lower by about 20%, in the used car market.
If you find another 2006 Civic with comparable mileage for $2,000 asking price, assume it will sell for about $1,600 (20% off asking pricing is a fair assumption).
Will your car cost you more than $1,600 that year? If so, it may be time to retire it! It’s a liability, not an asset!
When selling your car for scrap, the value is NOT based on “resale” value. We buy your car and drain it of fluids and crush / recycle the car for its METAL value.
It does not matter that you have a new MP3 player in it.
It does not matter than you put a new battery in it last year.
All that we really look at is the metal value of the vehicle, sometimes parts value.
Metal value is the vehicles curb weight multiplied by the price per pound of scrap metal in the North American markets. That price ranges from 5-15 cents per pound. The average is about 5-10 cents.
Google “2006 Civic Sedan Curb Weight” and you’ll see exactly the average curb weight. (Google, of course, your vehicle model – 2006 Civic is just used as an example!).
2006 Civic Curb Weight = 2,600 LBS (average).
At 5 cents per pound the cars value is $130.
At 10 cents per pound its $260.
At 15 cents per pound its $390.
So you can expect somewhere between $130-$390 for the SCRAP / JUNK METAL value of the car.
But – it may have parts value! Also, note the above is only for EXAMPLE and not what we will pay for your car!
Indeed, your car may have parts value. If it is LESS THAN EIGHT YEARS OLD (8). If your car is older, it may not have much extra parts value. In some cases, however, older cars have lots of parts value. It all really depends on the type of car. Usually pickup trucks retain strong parts value well into 10-15-20 years of age!
2006 Civic = 14 years old (as of the date of this article) = No parts value
2014 Civic = 6 years old (as of the date of this article) = Good parts value
Parts value can add $300-$3000 in additional value, depending on the car, age, condition, mileage…etc.
To validate this point ask yourself this question:
If my car needed an engine, would I buy an engine for $500 and pay $500-$1000 to have it installed.
If you are disposing of your car because it just old and needs only minor service – if any, why would anyone else pay more money to repair larger issues with their 2006 Civic?
For example purposes, lets stick with this 14 year old 2006 Honda Civic. Its rusty, it needs major repairs, its just time go to.
You spend your day calling around.
You mostly get cell-phone based operators that aren’t overly friendly and don’t seem overly professional, that is the norm (unless you go with ScrapMyJunkCar!!)
One offer is $100
Second offer is $300
Third offer is $1000
Now, based on what we learned above – it has no real parts value. We know that $100 is a little to low and that $1,000 is too high.
The obvious choice is to go with the offer for $300 – but you’re not going to do that, are you?
You’re going to give your personal details (name, number, email, address…etc) to the guy that quoted you, $1,000. Now, if you haven’t watched our video above, now is a good time to learn what happens 99.999% of the time.
Here is that video again – we encourage you to watch it:
What tow operators usually do is quote VERY HIGH to get you to book with them. Now you’ve stopped looking for other quotes and discarded your notes from the hours you spend researching and you’re set to sell your car for $1,000.
That operator arrives and one of two things happen.
FIRST: They offer less. They walk up, look at the car, and offer you $300. Why? Because they thought it was newer, or because it not as expected (any excuse).
SECOND: They actually do pay you $1,000.
Why is it bad that they’ve paid $1,000 – because they will NOT be scrapping your car, as you’ve lerned above, the vehicle just is not worth that amount in scrap. Therefore, you should be concerned that the buyer will either be driving your vehicle or curb-siding it – which can both expose you to legal issues.
What a car buyer should provide to you:
No! you should only be getting money!
If the operator does not transfer your vehicle into their name and re-sells it or drives it, yes. You are still responsible for the vehicle until it is legally transferred out of your name and into their company name. Be careful who you di business with!
If you answer YES to any one of these below questions, it may just your best bet to call us. Let us handle everything for you.
If you answer yes – it may be time to consider your job and family, keep a reliable car and sell us your old one! Its time to get cash for your old, junk, scarp, unwanted car. We proudly service the Toronto, Pickering, Ajax, Oshawa, Markham, Scarborough, North York, Etobicoke, Mississauga, Brampton, Vaughan, Woodbridge, Newmarket, Bradford, Keswick, Newmarket, Aurora, Richmond Hill, Thornhill and more! We pay up to $15,000 for cars and you don’t need to lift a finger!
If your car is costing more than its worth! Call us today at 1 877 647 5865 or complete our form (we’ll call you!)
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