As 2019 comes to a close, you might be starting to plan 2020 and, sometime during the year, you might want to sell that junk car that has been taking up space in your garage. Instead of taking your junk car to the salvage yard whenever the mood strikes, consider the metal market and time your sale in a way that will make you the most money. Here are some tips on the scrap metal market from your friends at Orthodox Auto Company to help you make an informed decision on when to sell your junk car.
In the spring, when most people receive their tax refunds, the demand for scrap metal and parts tends to go up. This is because people have more money in their pockets and are more likely to spend more on auto parts. Salvage yards, like Orthodox Auto, might pay more for your junk car during this time of year in order to keep their salvage yards stocked and meet the increase in demand.
The fall months typically see an inflated market and junkyards find themselves with more supply than is demanded. This is because many people sell their junk cars when they buy new cars, and late spring to early summer is the most common time to buy a new car. If you are looking to get the most for your junk car, we would not usually recommend selling in the fall.
It is common to see an increase in scrap metal prices in the summer due to the increase in construction and development projects. Summer is the busiest time of year for the construction industry, and construction crews often need lots scrap metal, therefore increasing demand and drawing the price up.
The cold and snow of winter make the cost of doing business more expensive, and could affect the price that salvage yards are willing to pay for scrap metal. For example, it is more expensive to come and tow your junk car from your house in the snow than it would be during a warmer period. Consider selling when it is warmer and you could get a better price.
No matter when you decide to sell your junk car, Orthodox Auto has a simple process to make the experience as easy as possible for you. If you are in the Philadelphia area and you would like a free, no-obligation quote, give us a call at (215) 992-7685. We pay top dollar for junk cars and we would be happy to take that clunker off your hands.