So you want to sell a junk car for $500?
What if I told you it was possible to get $500 cash for junk cars if the stars align?
You'd want to know how to do that, right?
It boils down to 3 simple things:
- Have a somewhat newer vehicle to sell.
- Have a heavier vehicle.
- Have a junker with valuable car parts.
Sounds simple right? Well, it's not.
You see the majority of junk cars sell for far less than $500. We'll use this post to go into the details .
Can I Junk My Car For $500?
One of the top questions people ask JunkCarMedics.com is if we can pay $500 cash for junk cars. It's a pretty loaded question.
You can sell a junk car for $500 if the vehicle is somewhat newer, say 7 years old or less, has reusable parts and is a popular model on the road in your area. If you can check all those boxes you may be able to pocket $500 for your junker.
However, "junk" and scrap cars are just that. They are scrap that carry little value beyond its weight in metal. If your car had any true value you wouldn't be reading an article by a cash for cars company.
Why It's Hard To Get $500 Cash
The going rate to sell a junk car for cash in 2021 is $258 on average and common prices range from $50 - 300 although it is possible to sell a junk car for $500. It just isn't very likely.
- Your car is a junk car - Let's face it. If you're reading this article and your car is 10+ years old you probably already know that. Junk cars don't have much value beyond their weight in metal. It's the ones that have usable parts that can possibly get you up to $500 for junkers, we'll discuss those later in the article.
- Imports and exports aren't what they used to be - The U.S> used to export a lot of scrap metal overseas but that number has declined and continues to do so. On top of that China and Canada are now importing more steel as they are producing it cheaper.
- The Internet: Makes it easier for others to compete for cars and it's lead to a globalization of auto sales. There is now greater competition from countries all across the world, most of which have fewer regulations.
Depressed yet? Sorry, we didn’t want to kill your buzz after you declared, “I want to sell my junk car for $500” Believe us; we’d like to. We’d love to. But right now, the market isn't there and we aren't sure when it will be exactly.
How to Sell My Junk Car for $500
Here are the 3 factors that will help you to sell junk cars for $500 or more:
1. Have A Somewhat Newer Vehicle To Sell
If your car is old and the parts or worn or there aren't similar vehicles on the road then there will be no demand for it's parts and it will fetch a much lower offer, it's basically an unwanted car to most, a scrap car.
Newer cars say 7 years old or less, that are in decent condition can sell for $500 or more because there is a good chance someone will want to buy it for a project car or for it's parts.
Currently in 2021 "junk cars" that are in good condition are selling for much more then usual because there is a lack of vehicles at the auto auctions.
More people are attempting to repair their cars due to the Covid-19 outbreak and the decrease of disposable funds in many peoples banks accounts. Rather than junking a car and buying new people are attempting to get more value out of junk cars.
Therefore, there is a lack of vehicles at car auctions across the country. And the demand for used parts is increasing.
Think about it, more old junk cars on the road then the more need for old car parts.
2. Have A Heavier Vehicle
Heavier vehicles will net more even if there isn't a demand for it's parts because there will be more metal. Which means even if the car is crushed and sold to the local scrap yard it may be able to get you $500. It greatly depends on current scrap metal prices.
3. Have A Junk Car With Valuable Car Parts
If your car has reusable parts that can be pulled from the vehicle and resold at an auto salvage yard then you may be able to get $500 or even more for it.
But if you're car is old then there won't be any value in the parts beyond the metal.
Another option is to pull some of the parts yourself such as the wheels, engine, and catalytic converter to resell on your own. This of course takes a bit of know-how but you could then scrap the vehicle for it's weight in metal to the local yard.
Who Buys Junk Cars Near Me? List Of Places That Buy Junk Cars Near Me But Only One Pays Top Dollar
Wondering who buys junk cars nearby? You have four option to sell a junk car:
- JunkCarMedics.com cash for junk cars service - works with the top local auto salvage yards, auto auctions, and car buyers to get you the best price. Get an instant offer in 1-2 minutes and have your car sold in 1-2 days. ***Pays Top Dollar***.
- Junkyards Near Me - Some are shady and some think they are the only option in town so will try and take advantage. Be cautious. Works on there schedule
- Cash for Junk Car Services - A good portion of these really are wannabe JunkCarMedics.com'.
- Sell it independently to a buyer or on Craigslist - Take pictures, create a post, make phone calls, deal with headaches.