Posted on Friday, 28 February 2020 by CarTakeBack

We've had a pleasant surprise this month! Though the value of scrap cars has been known to drop in February, this month they have had an impressive increase. The average price paid for scrap cars in February 2020 is a big 7% more than what was paid in January, and a massive 64% higher than what was paid in February 2019!

This is thanks to an upturn in prices, compared to a downturn this time last year. It also means that now is a perfect time to sell that old car that's been sitting on your driveway, as with such a big rise in the prices paid for cars this month, a drop is possible as we move into March.

The CarTakeBack Scrap Car Price Index is updated monthly using the prices on offer for scrap cars at CarTakeBack recycling centres throughout Australia. It is intended to give an indication of the movement in the price from one month to another, with the prices being shown as a percentage. Cars come in all shapes and sizes which has an effect on their scrap value, so prices have been adjusted to show what the average car would be worth.

Check out our previous scrap car price updates >

What's the value of my car when sold for scrap?

The value of your car when being recycled depends on many things, including the current demand for scrap metal on the global market. As demand rises and falls, so do the prices paid for the metal in your car. There are other factors involved, such as any reusable spare parts and the value of other materials in your vehicle, and all of these contribute to the final value of your old car.

CarTakeBack offers up to date prices for scrap cars, so you can be sure that when you get a quote with us, you’re getting the best price available at the time. The quote we give you is guaranteed for seven days, so if the value of your car does drop before you accept our offer, you'll still be getting the best money for your motor!

Get an online quote now! >