If you’ve got a scrap truck, perhaps now you’re wondering how much money you can get out of it. By scrap trucks, or any car for that matter, the term refers to trucks that no longer have any other use but for you to simply sell it as junk in the scrap yard. In doing so, you can free the yard of your truck that no longer serves a purpose and also get a small amount out of your scrap truck and its parts.
Over the years, however, there may have been instability in scrap trucks, cars, and metal prices. This means that in some instances, the current scrap car prices and other metals are high, while there are also days when the price just fluctuates. At the time you’ll sell your scrap truck, you’ll want to maximize a high price so you’re able to get the most out of it.
What are these factors influence scrap truck prices? Here’s a list.
1. The Scrap Metal Category
First on this list is the scrap metal category. Perhaps unknown to many of you who intends to sell your car for scrap, the yard that you’re selling your scrap truck to also have their own classification depending on the kind of metal that you’re selling. These classifications will also have their respective price categories.
The most common metal accepted in scrap yards is copper, aluminum, lead, and stainless steel. Each of these kinds is also further re-classified by type, with the categories in place to remain the price value of each.
For instance, depending on the truck that you have, some may be rated as ‘class aluminum,’ which often has a higher price than the other lower kind, ‘pot metal.’
2. The Supply and Demand In Your Area
As is the case with any other good for sale, traded, or commodity, the supply, and demand of certain products and items shape the economy. So, the price that you may be given for your scrap truck will also depend highly on the supply and demand where you’re coming from.
Generally, the price of scrap metal trucks will rise if there’s a high demand for them in recycling plants, but there are only a few sellers. If you’re lucky and, at the time you’re selling your scrap truck, there aren’t many other car owners doing so, then you may be able to get paid handsomely for it—given that it’s scrap.
3. The Price of Virgin Metal
The price of your scrap metal coming from your truck can also be influenced by the price of the virgin metal or the clean, brand-new metal that’s fresh from the manufacturing plant.
If the price of virgin metal increases, the price of scrap metal will increase as well. In this scenario, manufacturing plants will want to use more scrap metal, as this will still be cheaper than virgin metal. In effect, the demand for it increases. So, if you’re selling your car during that season, then you may also be able to get more for it.
If you want to be able to have more out of your scrap truck, therefore, be on the lookout also for the price of virgin metal, so you can have that inkling as to whether or not now would be a good time to sell.
4. The Geographical Location
The geographical location matters, too. If you live in an urban area where scrap yards and metal recycling plants are saturated, or there are many of them, then you may be able to get a better price out of your junk car. Competition can drive prices to be more competitive as well, so you don’t have to worry about selling your junk car at an unforgivable low price because you’ve got no other choice but to do so.
5. The Stockpile Levels
Also, depending on where you’re from, the recycling plants or yards that you’re selling your junk car to may also be importing the scrap to other countries. Typically, the biggest buyers of the scrap metal would still be China, for them to repurpose and recycle it into other goods.
However, if the stockpile levels in these countries that are the biggest market for scrap metal is high, then it means they’re also going to slow down with buying scrap metal. This deceleration in the importation can affect your local price by a reduced value compared if the demand was higher.
With the coming in of more recycling plants and the environmental concern to be more responsible with waste, scrap yards are becoming even more popular as a dumping ground of scrap metal. One of the biggest contributors in these scrap yards could be scrap truck owners like yourself, whereby your truck no longer has hope of being used again, but you just want to have at least a few bucks out of selling it as scrap if you’ve long wondered about how the price of scrap metal drops and rises, the factors above should give you more information now about how it works.