Did you know there is a difference between junkyards and scrap yards? Let's take a look at the ways junkyards and scrap yards differ. At Peddle, we work with junkyards, scrap yards, auction houses, and auto buyers to ensure you get the best price for your vehicle.
A junkyard, also called a salvage yard, buys unfixable, unusable, or just unwanted vehicles. Once they buy a vehicle, the junkyard removes salvageable parts to be resold or they may allow customers to come into the yard and remove the parts themselves.
You can expect to pay less for even costly parts at a junkyard vs. an auto store, or with your mechanic. Once the usable parts are removed, the vehicle is crushed. Junkyards take loads of the crushed vehicles and sell them by volume to scrap yards.
The purpose of a junkyard is to buy, store, and sell used metal and parts that are salvageable to customers.
Scrap yards purchase cars in any condition because they buy them to crush them. Vehicles are crushed in an effort to save space—because transporting compressed metal cubes is easier than transporting whole cars. The scrap yard may need to store the metal until the time is right to sell it in bulk to a recycler. Storing compressed metal is also easier than storing whole cars. (The more you know, amiright?)
The purpose of a scrap yard then is to buy, store, and sell scrap metal in bulk to recycling facilities.
The right time is when the price is right. You may have noticed the value of different types of metal will rise and fall. The fluctuation is mainly due to the rise and fall of market demand. According to Fortune.com, steel prices increased in 2021 by more than 200% at their peak (wow!). This spike has been attributed to the government's attempts to bolster the economy in the wake of the COVID pandemic. Although prices do not generally spike so dramatically, scrap yards turn a profit by buying low and selling high. That means they may need to store large amounts of scrap metal before selling it to recyclers.
The amount you may be offered to junk your car is generally determined by the weight and how much of that weight is metal. Vehicles that are not drivable will likely need to be towed, which some places could charge you for. Peddle is a hassle-free way to junk your car without having to worry about haggling, negotiating, or towing your car. We pay fair market value for junk cars and offer payment on the spot.
It’s super duper easy peasy to junk my car with Peddle, you just:
Peddle is the faster, easier, awesomer way to sell your car.
Finally retiring old-trusty? Get an offer in minutes-it's easy as pie