Junk car prices are influenced by a score of factors including make, model, mileage, condition, location, and demand for parts. Vehicle year has a major impact on junking value. Industry data on average car prices by year shows that on average 2019 cars are worth 8.5 X more than 1995 vehicles of the same make.
A key reason for the difference is that newer cars are still valued for parts. But the value of both the whole car and its components depreciate steadily year by year. Consider the popular junk car, the Nissan Altima: its scrap value fell nearly $100 (24%) between 2008 and 2006 ($425 to $336).
The data reveals that the average 1995 vehicle bottoms out at around $300 in value. This value derives from the recyclable material contained in the vehicle. The scrap car value for newer junks is pretty impressive – well over $2,000 for models introduced in the last five years.
For a broader look at all the factors that influence junk car prices, check out our main page on junk car prices.
This article looks at junk car prices by vehicle year. We explore why newer cars are enjoying such good scrap car prices and emphasize the benefit of junking your non-driving car sooner rather than later.
Analyzing Junk Vehicle Prices By Year
Why do scrap car prices change by year? The simple answer is a newer asset is considered to be in better condition and there are more ways to extract value. What do we mean by more ways to extract value? Sadly an end-of-life car may end up at the junkyard being crushed for scrap.
The value of the recycled scrap is the car’s only worth. The price you get for it will be influenced by the car’s recoverable weight and the current scrap metal prices.
On the other hand, the parts of a 2015 car may still be in sound condition and very serviceable. These parts can be removed and after some refurbishment sold to workshops and second-hand dealers. After the valuable metals found in components like the catalytic converter and transmission is extracted, the fluids are drained and the electrics stripped, only the the framework remains. One last small chunk of value.
The vehicle’s age is a crucial input in the scrap car value calculator. The age helps determine if parts are still in high demand or obsolete. Junk cars under 6 years old often have salvageable and valuable components that will be in demand, making them more sought after than older cars in better shape.
This is well illustrated in the table below where we see that the average price for 2018 vehicles is over 4x higher than the price of 2008 cars. The trend line in the table clearly shows that as every year passes the junk or scrap value of your motorcar declines.
- 1995 – $324.07
- 1996 – $316.37
- 1997 – $341.51
- 1998 – $344.49
- 1999 – $366.19
- 2000 – $373.58
- 2001 – $397.85
- 2002 – $405.58
- 2003 – $420.33
- 2004 – $438.45
- 2005 – $458.57
- 2006 – $457.45
- 2007 – $513.20
- 2008 – $543.25
- 2009 – $564.98
- 2010 – $663.70
- 2011 – $783.25
- 2012 – $866.52
- 2013 – $1050.98
- 2014 – $1171.84
- 2015 – $1387.72
- 2016 – $1551.38
- 2017 – $1945.93
- 2018 – $2296.06
- 2019 – $2749.17
You will see that the average price in almost every year exceeds the price in the year before. This is a consistent trend over the last 25 years with one or two minor exceptions (between 2005 and 2006 the price fell by a negligible $1.12).
Reasons for the robust scrap value prices for newer models include higher metal prices as well as strong demand for parts – including second-hand parts- due to many consumers driving their existing vehicles for longer as they are unable to afford a new car.
The ongoing 2023 strike in the automotive industry, higher interest rates, and the environmental value of recycling are all reasons current scrap car prices are high.
Why Do Different Vehicle Years Fetch Different Prices?
We know that a new car’s value starts dropping almost as soon as it drives off the showroom floor. In accounting terms, this is called depreciation. Most moveable assets decline in value and their book value is written down over time. Just as the vehicle as a whole depreciates, so do its component parts. Let’s consider the reasons for this:
Wear and tear: The continual depressing and release of a clutch cable causes wear and tear on the cable and it will eventually snap. The same applies to other working parts. Mechanical stress and other factors like corrosion gradually degrade the component and it loses value. Generally, the older a scrap car the more wear and tear applies.
Of course, we also see wear and tear in a newer car that is driven hard and clocks serious mileage. Hence, mileage is also an input in the scrap car value calculator.
Technological advancements: Advances in technology and engineering can make older parts obsolete. As these older parts are effectively replaced by modern systems they fall out of demand. For example, a 2019 Toyota Prius will have more advanced hybrid components than a 2001 model with the result that there is less demand for 2001 components in the modern market.
Maintenance record: The components of a well-maintained and regularly serviced car will likely have better scrap value than those in a poorly maintained car. But the older the vehicle is, and the more mileage it has, the harder it is to prop its value up. There comes a point where the money sunk into the car for repairs will never be recouped.
The effect of depreciation means that for every year that passes the average price of your junk vehicle declines until it bottoms out around $300. Once your beater is considered an end-of-life car, it has little value besides the couple of hundred dollars paid for its scrap metal. So the longer you wait to sell your scrap vehicle the more it declines on average.
Don’t let potentially hundreds of dollars rust away in your backyard. With scrap metal prices quite high and car parts in strong demand, there is no better time to approach a salvage yard or explore a sale online. Many scrap car buyers offer fast free online quotes to help you turn your wreck into cash.
Key Takeaways
The key takeaways from this analysis are that newer junk cars have two potential value streams – parts and scrap metal – while older cars only have one – their weight in metal. Prices for newer vintages are currently pretty good. The longer you delay junking your car the less chance you’ll score a winning deal.
Are you wondering, what is my junk car worth? Whatever the year of your car you can find its approximate value by searching databases of scrap car prices. Don’t only look at nationwide figures. Scrap car prices differ across locations, so check values in your state and local area.
If your vehicle contains working components it’s a good idea to check the demand for and value of second-hand parts in your locality. Once you’ve done some research on average scrap car prices you’re well placed to get some free quotes from the many online buyers of junk cars. Don’t accept the first quote you get. Compare several offers to find the deal that’s best for you.
FAQs
How does the vehicle year affect the price of my junk car?
The vehicle year affects the price of your junk car because it reflects the age of the vehicle. A newer model usually holds more value than an older one since it hasn’t depreciated as much. Its parts and components may still be in good condition and can be ‘parted out’ and reused. This supports a better price, particularly for popular parts in locations where there is strong demand and limited availability.
Is there a particular vehicle age that is considered more valuable when junking a car?
It’s difficult to pinpoint a specific vehicle age as more valuable because there are so many factors that impact value such as mileage, condition, location, and current market demand for the car parts. The most common scrap cars sold for metal are models manufactured between 2001 – 2006. A well-maintained 1999 Toyota Corolla may be more valuable than a 2004 Corolla that is only good for scrap.
Can I sell a very old car for junk, or is there an age limit?
Just because a car is old, doesn’t mean it has no value. You can sell a car of any age for junk because an old vehicle still contains recyclable materials and may also hold rare vintage parts sought after by car enthusiasts. However, if it is an old scrap car that has suffered years of damage and is rusted and corroded you shouldn’t expect to receive much for it.
Are newer scrap cars always more valuable than older ones?
Generally, newer models are worth more than older ones but this is not always the case. The more recent model might have a higher baseline value, but other factors such as demand for special parts, condition, and weight also influence a junk car’s worth. Some cars become beloved like the 69 Dodge Charger or the 1999 Honda and hold up in value against later models.
Does the vehicle year affect the process of selling it for junk?
The process of selling a scrap car is basically the same regardless of the vehicle year. However, the paperwork requirements in some US states might be less strict when selling an old vehicle, especially if the unit is being sold as a junk car or parts car. For example, you can sell a scrap car in Vermont without a title provided it is older than 15 years.
Will I get less money for a classic or vintage junk car?
You may actually get more for a classic or vintage car when selling it as a scrap vehicle. A classic car might have rare parts that don’t depreciate in the same way as normal parts, and in some cases may even appreciate. If the car has salvageable components that are popular with vintage car lovers the vehicle could fetch a tidy sum.
Can I sell a junk car if it’s no longer in production?
You can sell a junk car even if it is no longer being manufactured. Scrap car buyers may pay you for it because they can get money for its scrap metal. Besides that, there may still be a secondary market for the vehicle’s parts, though as this market shrinks with fewer of these cars on the road, its junk car value will decline.
Does the model year affect the paperwork required to junk my car?
The model year can affect the paperwork required to junk your car depending on your state. In some states, the requirement around car title is more relaxed for older cars that are being sold for junk or parts. For example, in Massachusetts, you can sell a car without a title if it is more than 20 years old; in Michigan, you don’t need a title to sell a 25+ years scrap car provided you sign an affidavit of ownership.
Always check your local DMV regulations to ensure compliance as this prevents later legal complications.
Are there certain vehicle years that are more in demand in the junk market?
There is no one outright year that is more in demand than others. Instead, certain models enjoy popularity, so demand might fluctuate based on variables like the popularity of the year’s models, the availability of popular vehicle parts, and current market trends. Certain years might see a spike in demand due to these influences.
What happens to older junk cars that have no demand in the market?
When a car is too old or wrecked to be on the road and its components parts can no longer be salvaged or hold no demand the car can be sold for scrap metal (if it’s not a rust bucket). Metal recycling from scrap cars is a well-established industry; the recycled materials are utilized to manufacture a range of products. The car’s weight and local scrap metal prices will influence the final price paid for the old car.
