It is commonly known that vehicles lose their value very quickly. As soon as you drive a car away from the dealership, it begins to depreciate. This can make it very disappointing when you want to sell your vehicle. It might still be in great shape, but you will only get a small fraction of what you paid for it. However, there is something that many people don’t think about. Vehicles might depreciate very quickly but they are also less valuable than the sum of their parts.
The Sum of Their Parts
When you buy a junk car, you might buy it for a few hundred pounds. However, the pistons, radiator, tyres, and transmission in the vehicle would be worth more than that few hundred pounds if you sold them separately. Car parts are very expensive when they are bought separately. That is because there is a lot of labour involved in removing a car part from the car. Also, there are inspections that need to go into each part to ensure that it is in good working order. That leads to parts being expensive. This can work to your advantage, though. If you have a junk car that you no longer want, you can scrap it or part it. You should get in touch with a motor salvage that takes junk cars from people and pays them money. If you have a car to scrap in Birmingham, you could make some extra money.
Scrapping a Car
If you want to scrap a car, you have a few options. Vehicles typically have two main methods of being valuable. A car is worth money even after it has been totalled because it has value for its parts. Each part that is still in good working order will be valuable. Furthermore, a vehicle has value because it is made of metal. Most vehicles are made of multiple different kinds of metal. Since metal is so useful as a building material, it retains its value very well. If you sell your car to a salvage yard, they will be able to remove the parts that still work. They will then be able to scrap the metal. Metal is worth money based on its weight. Obviously, a vehicle is very heavy. It has a lot of weight. That will lead to you being able to sell your scrap car for much more than you would get if you tried to sell it back to your insurance company or to someone else.
A salvage yard will understand the value that your vehicle has, even if it no longer runs. A vehicle that has been in an accident will likely still have working tyres and parts of the body. A bumper alone can cost a few hundred pounds if it’s in good condition. The doors and windows are valuable to anyone who has that same model of vehicle. Finally, many of the internal components will be shielded from crash forces and they will continue to work properly. The gaskets that hold your vehicle together will likely be unaffected even by a powerful collision. All of this adds up to a vehicle that will retain a lot of worth even after it has been totalled. You should consider selling to a salvage yard to get as much value as possible out of your car.