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How To Calculate The Salvage Value Of A Car

The salvage value of a car is highly dependent on the price of metal per ton. In years past, it would have been extremely profitable to scrap a car for salvage as the price of metal was very high – however, that’s no longer the case. Scrap metal prices have been waning down in recent times, and for that reason, sellers can actually get a greater sum when selling their salvage cars outside of these markets.

Alternatives ideas would be to sell a car for its parts, or even junking the car for $500 and receiving some tax benefits.

If you’re still asking – “How Much is My Salvage Car Worth?", keep reading.

How Can I Sell A Car That Doesn’t Run For More?

Often, if your car is damaged beyond the actual cash value of the car, or if it’s simply an old car that has depreciated over time, it might be a better deal to just scrap the car for its salvage value. This may seem like a burdensome task, but buying “less-than-perfect" cars is our bread & butter.

We have been helping customers get rid of their unwanted cars for over a decade. We know just how to value & price crashed, damaged, or junk cars for more than the car’s salvage value while maintaining handsome profits.

Should I Sell My Totaled Car For Its Salvage Value?

After your car has been classified as “totaled" by the insurance company, you will receive a cash settlement for the used value of the car, and the insurer will keep the vehicle.

From this point on, the insurance company will junk the car for its salvage value, and the fate of the car is up to the owner of the yard.

However, sometimes, even after the accident – the damaged car can have greater value than its price in scrap. In certain cases, it might make more sense to buy back the car from the insurer and sell it as a wrecked car to a willing buyer.

How To Compare Scrap Car Value vs. Totaled Car Value

To find the scrap value of a car, you simply need to multiply the current price of metal per ton by the total weight of the car. Often, this will come to a few hundred bucks. This is important.

To find the market price of your totaled car, you might need a more complex process. In fact, we have our own internal salvage value calculator for damaged cars because the process requires many moving variables. It’s definitely easier to know how much your salvage car is worth because there isn’t as many factors.

Simply put – just because the cost of repairs exceeds the value of the car as an used asset, it doesn’t mean that the car isn’t worth anything beyond the price of the metal.

Say you have a used car that is worth $10,000. And you get into an accident, and the insurance company determines the cost of repairs to be $15,000 – so it writes it off as totaled.

Then you go to a junk yard and you’re given the value of the car as scrap as $500. However, that same car, if sold as a “damaged vehicle" can be valued as $1,500.

In this case, you might get a far better deal simply selling the car to a buyer like us, as a crashed car, rather than junking it for as scrap.

So – How Can I Get Rid Of My Unwanted Car?

After weighing your options and making your decision – selling your unwanted car is easier than you think. Even if it has mechanical problems or collision damage – most cars are often worth more than their salvage value. Remember to use our salvage value calculator as you’re comparing services!

As such, it is our mission to make selling damaged vehicles as easy as possible for everybody. Our process begins with a simple offer form, and all the way up to the removal of the vehicle – we make every step as easy and convenient as possible.

There are no hidden charges in our transactions, so you will be pleased to note that the price you get is the same as the one on your instant quote.

Our service is hassle-free and we don’t haggle or pressure you to accept an offer. It is time to turn that totaled car into some cash, so skip the run-around and let the experts do it for you.