How Does The Economy Affect The Amount Of Cash You Get For Your Junk Car?
The economy is effecting the amount of cash your getting for your junk car even in Decatur. The economy is based on supply and demand. When there is an oversupply of pork the price of bacon goes down. That’s why you see so many deals on bacon right now. The same thing happens with metal. Right now the demand for metal is not very strong so companies that have metal will lower there price for metal in order to sell it. Companies like recycling centers that buy junk cars for the metal. So when the metal price goes down the price we offer people for their vehicle goes down. Its that simple. People are alarmed by the prices for junk cars that are only good for scrap. If a car is worth putting back on the road you would be able to get more for it. But most junk cars are old and would cost more than their worth to repair and resell. So they’ll end up in the metal recycling center at whatever price the market demands.
How does the oil price affect how much cash you get for your junk car?
When the price of oil goes up you can get more cash for your junk car. The oil industry needs tubing and pipes to carry its products from point A to point B. These tubes and pipes are made out of steel. When demand for oil rises the price also rises, in return the profits rise for the oil companies. When their profits rise they make more investments in their infrastructure which includes those steel pipes and tubing. Each car has about 1,800 pounds of steel in it. Recycling steel is more environmentally sustainable and cheaper than mining for new steel. So there you have it. When you see the price for gas (oil) going up you’ll get more cash for your junk car.