The truth is, mileage has no bearing on whether your car is junk or not. However, it may have an affect on the overall value. If your vehicle has low mileage, you might be better off looking for a private buyer, though you will have to be patient enough to find one.
On the other hand, if you have an old car sitting around and taking up space that you’re looking to get rid of, junking might be the option. Even if it’s no longer roadworthy, you can still earn cash for your junk car by selling it to a scrapyard for recycling.
Did you know that the car industry is one of the biggest recyclers? The auto salvage industry recycles more than 4 million vehicles every year in the US and Canada, according to the Automotive Recyclers Association. Around 86% of a vehicle by weight is recycled or reused, including copper, aluminum, steel.
Age, condition, and mileage are among the most common factors that affect junk car value. Here’s what you need to know about how mileage affects the amount of money you can get for your car.
Why Does Mileage Affect Your Car’s Value?
When it comes to selling your junk car, mileage really isn’t that big of a factor. Typically, all junk cars have an excess of 100,000 miles on them, so the mileage is really a moot point.
On the other hand, if you have less than 100,000 miles on your car, junking really shouldn’t be your first option. Chances are good that someone somewhere would like to purchase your vehicle, even if it is in less-than-perfect shape. You could try placing an ad online or in your local paper and seeing if anyone is interested. While calling a junk car buyer is the quickest and most convenient way to get cash, you might be selling yourself short when it comes to overall value.
The average driver in the US covers around 13,500 miles each year, according to the Federal Highway Administration. If you drive more than that, your car will sell for a lower price than if it has below-average mileage.
In general, cars are considered to have high mileage if they have more than 100,000 miles. Cars typically last for 100,000 miles before needing major repairs, although newer cars can run for a lot longer. The wear and tear on your car will depend on the make model, the conditions of the roads you drive on, and how well you maintain the car.
What Other Factors Affect Junk Car Value?
Mileage is only one of the considerations that affect the price you’ll get for selling your car. Other factors that determine the value of the car to a scrapyard include:
- Scrap metal prices
For an auto salvage yard, the weight of the car and current scrap metal prices are among the most important factors. Scrap metal is sold by weight, so the heavier your car the more money the junkyard will get for reselling the metal. In turn, they can pay you a higher price to buy the car from you.
Scrap metal prices rise when demand is high and there is less available supply, so junkyards pay more for old cars when prices are higher. When demand is low and scrap metal supply is easier to come by, prices fall, and your old car will have a lower value.
Your location also has an influence on the price the junkyard will pay for your car, as scrap prices vary in different regions.
How Soon Should I Scrap My Junk Car?
You should track the scrap metal market to give you an idea of the average junk car value for your make and model. This will give you an idea of price fluctuations and determine when it is a good time to sell your old car for the best price.
Keep in mind, however, that cars depreciate in value over time, so it’s generally better to sell your car sooner rather than later.
Sell Your Junk Car for Cash
Now that you know how mileage affects junk car value, you can work out roughly how much your old car is worth and negotiate the price with a buyer.
If you’re ready to sell your junk car, All Car Buys will give you a fair price and tow it away for free at your convenience. We’re open late six days a week, so you can get your cash fast if you’re in a pinch. Contact us for a free estimate of how much your car is worth.