How to Figure Out the Value of your Used Truck
Trucks have a life-span, and eventually that life span will come to an end. The business owner who used that used truck will need to find a way to get rid of it. Whether it has permanently broken down or has been totalled, it will need to go to make room for a replacement. Fortunately, this is an easy task to take care of, and there are options available.
One way to get rid of an old truck is to hire a towing company to haul it away and dump it in a landfill. There is also the option of donating to charity. Perhaps the best one of all is for the truck owner to sell their old truck to a truck wreckers in a salvage yard. Before you do this, however, it is very important you ascertain how much your truck is worth. Here are the variables that factor in to how much your truck is worth.
The Truck’s Make
Some vehicle makes are more in demand and more popular than others. The more popular a make is, the more demand there will be for the parts. This usually results in the part being priced higher than usual. So, it goes to reason that if your truck is a very popular make such as Toyota, it will be more valuable than a make that is less popular.
The State of the Market
Another important aspect that needs to be looked at is what is happening in the markets. Are people buying a whole bunch of trucks lately? Is a particular industry that relies on trucks having a boom, resulting in a huge up-tick in truck sales? More trucks being sold will drive the prices of trucks up, making your truck more valuable.
The Scrap Metal Market
There is a lot of metal in your average truck, with steel making up the bulk of this metal. The weight of a truck therefore has an effect on its overall value. This is especially true of trucks that are no longer road-worthy due to severe damage or disrepair. The thing about steel prices is that they don’t stay the same. They are in constant flux, going up and down. The time of year that you place a value on your truck will have as much to do with its worth as its weight.
Your Truck’s Condition
You already know that a truck that is in good working order will worth a lot more than a truck that is only good for salvaging parts and materials from, due to it being wrecked or broken down. But scrap trucks vary in value as well. The number of parts that are in working condition, and are re-usable, will have a huge influence on how valuable the truck is. Some permanently broken down trucks may just have a blown motor, and the rest of it can be parted out and sold. While others have been completely totalled, with every part being useless. The latter example will be far less valuable than the former.