There are many ways you can get a good deal for your junk car at the local salvage yard.
You may be lucky enough to find a junkyard that offers their customers the best prices as a rule, but in case you don’t, below are some of the ways to ensure that you get the most cash for your scrap.
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Know How Salvage Yards Calculate Scrap Metal Prices
To get the best prices, you must first have an idea what the best rates are. Apart from helping you compare the different rates the salvage yards close to you have on offer and deciding on which of them are offering the best rates, knowing scrap metal prices will also protect you from being defrauded by unscrupulous junkyard dealers. Here is a list of things to be prepared for when selling to a used car dealer. [1] Scrap metal prices change constantly, and contrary to popular belief, legit salvage yards don’t just pick and choose figures from thin air. There are factors that come to play in their final decision on how much to offer customers per ton of scrap metal.
Unknown to most, the cost of transporting or towing a junk vehicle from the owner’s house to the salvage yard features prominently in how much cash the customer will be paid for his vehicle. If you bring the car down to the salvage yard yourself, you will get more money than if the salvage yard has to send a towing service to pick it up.
In addition to this, when scrap metal rates are being calculated, industry trends and commodity prices are factored in. In the year 2010 alone, the united states exported trash and scrap worth $8 billion to China. Trade conditions between both countries will surely have a bearing on scrap metal prices.
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Stay Informed on Conditions That Affect Prices
Demand, supply, and a host of other conditions affect how scrap metal is valued, and if you stay abreast of important factors that have a hand in scrap metal prices/rate, you can keep your junk vehicle and sell them at the perfect time. For example, did you know that during winter, the demand for materials reduce? Because it is so cold out, fewer construction and demolition jobs are done. As a result of this reduction in demand, scrap metal prices/rates will be quite low.
Furthermore, the location of a salvage yard affects how much they can offer for scrap metal. For example, a junkyard close to construction sites will see regular traffic of scrap metal, and as a result, can profitably increase their rates. With information such as these, you can strategize and pick the right time, and right market conditions under which you sell your scrap to a salvage yard in the perfect location.
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Do Online Research for The Current Scrap Prices
If you know the right places to look, you can find current figures on scrap metal pricing on the internet. There are also apps that you can use to report the price scrap metal was exchanged for at the salvage yard close to you, and in return, see how much they are exchanged for at salvage yards close to all other users all over the United States and Canada. By doing so, you have a benchmark you can use to run comparisons.
Around the United Sates, there are salvage yards that update their websites regularly on their scrap metal rates. Look for services that update their figures daily, as opposed to monthly or weekly, and get accurate figures from them. By keeping tabs on these websites, you will be able to tell quickly when they have special offers, and if their salvage yards are close enough to you, you can take advantage of the specials.
You can also find scrap metal rates/prices on various forums, and on social media. There are over 2 billion people on Facebook and Twitter put together. If you have an account on any of these platforms, you can easily get information on real-time scrap metal prices from people all over the country.
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Negotiate Strongly
With the knowledge garnered from knowing how salvage yards calculate scrap metals prices, coupled with current scrap metal prices you have access to, you are in a very good position to get the best deals in exchange for your junk car. Not only do you have the national scrap metal price benchmark, you also have an idea of how much local salvage yards pay for metal scraps. These insulate you from being cheated, and at the same time, it gives you negotiating leverage.
Now, combining these with your up-to-date information on the season and what the market demand for scrap metal is, you can get the best deals from any salvage yard you choose to make a deal with. Do not be surprised, however, if the salvage yard owner, awestruck by how much you know about scrap metal pricing and market conditions, offers you a job at his dealership.
