We’re sure you would love us to pay $500 for the broken-down old Ford in your garage, but let’s look at how this works and the best options available. You’ve decided to sell your junk cars for cash.

But even though it is an old car, you need a good price and looking fast cash for cars you are right place. Perhaps you want to put it towards a newer vehicle, or you have another big purchase you want to invest in, or bills to pay – and who can’t use a few extra dollars in their pocket?

Selling Your Junk Car for $500

You call the salvage yard and say: “Junk my car for $500!”

Chances are you will be disappointed. Although things are slightly improving, the market for automotive scrap simply is not strong enough currently to get good amounts of cash for cars in Chandler, AZ. However, in 2019, scrap prices are on the upswing, but it is still hard to sell a junk car to a nearby salvage yard for $500 cash. So, check out the following guide on how to sell junk car in Chandler.

The State Of The Steel Market

Scrap steel is big business. As it can be recycled numerous times it is essential to the steel industry. This creates less pollution and requires less energy compared, for example, to refining steel ore. 80 million tons of steel are recycled into new products per year, this includes appliances, construction materials, fire hydrants, guard rails, file cabinets, bridges and vehicles.

At the outset of 2014, the scrap metal industry was doing very well as scrap metal was selling for $400 per ton – there was no problem selling a junk car for $500. Business was good! However, by the summer of 2014, the bottom had fallen out of the market and has dropped by $50 per ton. Surely, things would get better and the price would go up again?

In the fall of 2014, prices dropped another $50 but the biggest price decrease was yet to come. The price fell by another $80 in just a single month in February 2015. The market would not sustain people who wanted cash for junk cars in excess of $500

2016 was a steady year and since then prices have crept up very slowly. However, we still cannot pay $500 for most junk cars.
This Is Why It Is Unlikely You Will See Your Junk Car For $500 Cash

Auto recyclers throughout the United States are still struggling from the 2016 downturn in prices. Many yards even went out of business – here are some of the reasons for this situation:

Exports Are Down

The US used to export roughly 20 million metric tons of scrap per year. In 2011 it was even 24 million. The amount has kept dropping since that time. When demand is low, you can be sure prices are going to be low as well.

The United States Dollar Is Up

The United States dollar is currently appreciating in value but that makes it more expensive for other countries to purchase American goods and that leads to lower exports.

Canada Is Booming

The US is importing more Canadian steel. Their steel industry is reducing in size, so they export more. If the scrap is in a city closer to American steel mills, it is often cheaper to import than to transport it from elsewhere in the US.

China is Getting Chilly

Slowdowns in the Chinese economy has extended to the steel industry who are buying less scrap metal from the US and hence how get fast cash for cars become more common and less likely.

Increasing Imports of Steel

Other countries such as China are producing and selling steel cheaply to other countries including the US causing US steel mills to suffer. As demand is lower, they do not require as much scrap.

It is easier now to compete for cars and has led to a globalization of auto sales. With far greater global competition much of which has fewer regulations than the US.

Market Trend

If these trends continue the market will become more volatile and although you can learn more about statistics and facts behind the industry it does not change the fact the market is just not there right now and it is hard to say when it will be.

So it is pretty unlikely you will be able to sell your junk car for $500. Nonetheless, salvage yards will give you a fair price, however, it may not be the number you are looking for. But, it will be competitive in the current market and it is a smooth process that is easy and quick when a salvage yard purchases your car.

How To Get Cash For Junk Cars

If you have a junk car that you no longer need or want, you may be wondering how to get cash for cars, and what is the process sell your ride without all the back and forth? Here are some steps you can take to sell your junk car for cash:

Step 1: Ensure You Have The Title

Scrap yards will not purchase cars from anyone except the legal owner. If there is no title, it means there will be an additional expense, lessening the amount you will get for your car.

Step 2: Determine The Real Value Of The Car

There is no sentimental value in the car and the chances are you are going to think it is worth more than it is. If the car is to be scrapped become familiar with the price of steel. Think about asking a friend or family member how much they would pay if they were to buy it from you.

Step 3: Get Pricing

Be straightforward and honest about the condition of the car and the mileage so you can get a square deal on a quote. If you get several quotes for under $500, chances are you will not sell your car for $500 as all reliable salvage yards use the same type of process to determine the price they are willing to pay.

Step 4: Decide If You Want To Sell

You can always refuse an offer and hold on to the car in the hope of obtaining better pricing. If the vehicle is at the end of its life, additional wear and tear or miles are not going to change the price. Keep in mind if the price of scrap rises you may be able to junk your car for a higher price by start looking for junkyards near you in Chandler, AZ.

Step 5: Offer To Drive Your Car To The Junk Yard

Scrap yards say they will offer free removal, but you will frequently find if you can drive the vehicle there yourself. The price they are willing to pay usually goes up. So, if you can drive it in, it will probably equal more money in your pocket.

Who Is Buying Junk Cars For Cash?

Most cities in the US have similar choices when someone is looking to sell their junk car for cash. Here are some further options:

Classified Sites, Craigslist or by positioning the car legally on someone’s lot or front yard that gets a large volume of daily traffic.

Trading in when purchasing a new car. Probably the option least likely to occur as most car dealers are not interested in vehicles at the end of their life.
Use an Auto salvage yard for junk car buying surface. A Google search of “Cash For Cars in Chandler, AZ” will get you started the right way.

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