You have finally decided to sell your car for cash. The prices you are getting are not what you expected. You need to get top dollar for your vehicle so that you can put that money towards another car or bills.
You have search Google looking for a junk car buyer or junk my car. We have some sad news for you. You are more than likely getting lower prices than you expected and you are upset. Prices are at a low for salvage vehicles right now. They have risen over the last couple of months but have not recovered yet. Automotive scrap is way down, and that is not good for anybody trying to junk my car for 500 cash.
Many auto salvage yards will offer you a price, but it will usually not be what you want. They want to but are unable because of the prices being so low. Some auto junkyards will even attempt trying to scam you but not a lot. The will usually process the metals out of your vehicle after they buy my car.
2017 so far has seen significant price increases in core prices and scrap metal. But they have not recovered to the morn of what the market was before the drop. This is why it is hard to junk my car for 500.
A scrap car is essential to the steel industry and American infrastructure. Metal is a resource that can repeatedly be recycled. By recycling metal, we are saving energy and natural resources. This also has far less environmental footprint because refining steel ore is an energy-consuming process that is very pollutant. Even while two out of every three tons of new steel are produced from old steel, it is still necessary to continue to use some quantities of virgin materials. This is true because many steel products remain in service as durable goods for decades at a time and demand for steel around the world continues to grow.
History of the Recent Steel Market Concerning Junk my Car Houston
2014 was a great year for auto recycling. The prices were high, and the demand was up. The auto buyer industry was doing better than it has done in years. You selling a junk car for 500 in cash was not an issue
Here’s the Deal
Then that summer the price started dropping. Everybody thought the amount was going to come up. Companies stopped ordering cores and scrap metal from suppliers.
Companies that had contracts could still sell the scrap metal but at a discounted price. The middlemen or small companies saw a huge decrease so bad that many of them went out of business.
Then Again It Happened
There was another drop-in price around the fall season. This put many businesses out. They laid people off and closed their doors, sold equipment and lost everything. In February of 2015 the biggest drop yet. We saw a price drop of about 40% in one month!
Was 2016 the Year for Rebound
2016 was a very fair year. We saw prices start going up and down, but for the most part, they leveled out. The fourth quarter we saw our first increase in rate. This was a welcoming increase!
2017 has been a steady year giving us increases slowly but steady. The prices are still way under what they should be. We have seen new orders come in for junk cars and this is a great sign. Unfortunately, the market is still depressed. With 2018 right around the corner projections are looking good!
We are still unable to pay 500 for junk cars. If we could, we would. We have to supply scrap metal to our buyers, and they are not in demand, yet.
The Reason Why it Would be Tough for you to Sell Your Car for 500 Cash
So many auto recyclers across the United States are trying to still recover from the market crash. Many of them went out of business. The drop in the market hurt a lot of them!
- Exports are way down: The USA used to export a lot of scrap metal overseas to processors there. About 20 million metric tons a year. Now because of the market dropping, that number is way down. The demand is low worldwide, so the price is still low.
- S. Dollar is Powerful: The currency of America or the USD has gained a lot of strength in a recent couple of years. This makes it more expensive for foreign companies to purchase junk cars or junk metal of American businesses.
- China’s Economy is Dying: China’s economy has slowed down from the past. China used to buy the bulk of the scrap that America produced, but now they are not able to or don’t have any projects going on. They have also decided it is cheaper to purchase from other countries because of their currency exchange rates.
- Increasing Imported Steel: China is now producing most of the worlds recycled steel and virgin They can produce it at a fraction of what we do and other countries. This is causing domestic steel mills to go out of business or operate at a snail pace. Because of the price being so low America is even purchasing Chinese steel meaning American steel mills don’t have a demand, so prices drop.
- The Internet: the internet has made the purchasing of cars easy for many to get into. You used to look up a company in your paper or the internet, and they would be local car buyers, now you don’t know if they are national or international companies. With this happening fraud has gotten out of control and low prices have not helped. Many junk car buyers are desperate and will do whatever it takes to make money, even breaking the law or turning a blind eye to regulations.
If you want to junk my car Houston you have found a genuine local company with roots right here in the city. We have four area offices and are still family-owned and operated. When you call, you are not connected to a call center you, a live person wanting to help you. Call us 281-946-7209. Free towing with every vehicle purchase!