If you have a car that’s just sitting in the garage, you might want to consider letting it go already! Check the car for signs indicating that it’s time to junk it and get additional cash in the process. There are lots of scrap car companies out there that would gladly tow your car for cash – you just have to find the right company that will give you the best offer!
After finally deciding that you want to sell your car for scrap, the next logical step would be to know how much you’re going to get for your used car. But just how will you be able to gauge your junk car’s market value? This blog piece will guide you on how to determine your car’s worth when selling it to scrap yards. But first, here’s some quick info on the requirements you would need to sell your used car in Ontario:
How to sell a used car in Ontario
If you’re planning to sell a used car in Ontario, setting up the legal documents required by the province would be one of the things you’d need to finalize first. It’s important to not forget about this part, as you are not allowed to put your vehicle on the market without these requirements. Here are some important documents that you need to prepare:
Used Vehicle Information Package (UVIP)
The Used Vehicle Information Package or UVIP is one of the most important requirements when selling a used vehicle in Ontario. The seller must prepare this package to be able to legally sell their car, as it includes important information about the automobile, such as its vehicle identification number (VIN) or the license plate number of the used vehicle. Other information included in the package is the vehicle details (year, make, model, color, body type, cylinders, and power), registration history in Ontario, retail sales tax information, a bill of sale section, and more. The cost of UVIP in Ontario is $20.
Bill of Sale
This document requires almost the same information as the UVIP, such as your car’s VIN, vehicle details, purchase price, sale or purchase date, and the seller and buyer’s name and contact information. Keep in mind that the Bill of Sale must be an original document, but it can be handwritten.
Safety Standards Certificate
A Safety standards certificate verifies that your vehicle passed the minimum safety standards on the date the certificate was issued. However, this does not serve as a warranty for the vehicle’s overall condition. Although you might be able to sell or purchase a used car without this certificate, it is illegal to put license plates on vehicles without one.
Now you know what you need to do to sell your used car in the market, but if you want to scrap your car how much you can get?
How much is your scrap car worth?
Now that you know the hassle of selling your used car, you might be thinking of selling your junk car to scrap car removal companies quickly and getting cash on the spot. So, getting the price for your scrap car comes next. Your car’s worth will depend on current market conditions, as well as the state of your vehicle. Here are some factors that scrap car companies consider when establishing the price of your car’s value:
Your vehicle’s make, model, and year
Firstly, and probably the most significant factor in determining your scrap car’s value, is its make, model, and year. Car manufacturers install different car parts in each of their units, and this is one of the reasons why scrap car prices change with every vehicle. Common practice dictates that one should look at the Canadian Black Book in order to check the estimated value of your used car, but again, junk car prices may vary.
The weight of your car also plays an important factor in determining your car’s worth. That’s why when selling your used vehicle to scrap yards, it’s best to have it sold with complete parts. Take note that you can still sell your car even if it’s lacking an engine, and you can still get the best deal out of your junk car.
Current price of scrap metal in the market
Another component that scrap buyers look at in your used car is the amount of scrap metal available in it. According to the World Steel Association, a vehicle is comprised of 900 kg of steel on an average basis. Steel and aluminum are metals that scrap yards mostly tend to look for in a used car, and like any commodity, their prices tend to vary depending on market demand. Therefore, it’s wise to do some research first about market behavior so you can have an idea of what to expect when you scrap your car for money. Rust in old vehicles also tends to depreciate their scrap value, so you must have your car checked for that as well.
WANT TOP DOLLARS FOR YOUR SCRAP CAR?
The safest way to determine your scrap car’s worth is to have it inspected by a company that offers scrap car removal near you. You can always gauge first which scrap yard can offer you the best deal. Get the most money for your scrap car by contacting us! We operate throughout GTA, so if you’re within the Greater Toronto Area and in need of junk car removal services, send us an email at email@example.com or call us at 647-249-0360!