Selling your car parts can be a profitable venture. Follow our tips to maximize your sales.
Differentiate between selling your entire car and selling individual parts. Selling your car for parts involves selling it as a whole to one buyer who will dismantle it. Selling car parts means breaking down your own car and selling each part separately to different buyers.
The most common reason for selling car parts is when the car is no longer functioning properly or is too expensive to repair. The parts you sell must be in good condition.
The aftermarket automotive sector is expected to reach $513.1 billion by 2027 with an annual growth rate of 3% until 2030, making it a significant industry worldwide. The COVID-19 pandemic has led to a rise in online aftermarket sales, with a 30% increase in automotive eCommerce sales in the United States.
Before selling auto parts and accessories, there are various factors to consider.
The most marketable car parts
Selling car parts can be a profitable venture, but it requires significant dedication, knowledge, and the right tools. If you opt to pay a mechanic for the work, the hourly rates, typically ranging from $60 to $100, can swiftly cut into your anticipated profits. This is especially true because the process of extracting the most valuable car parts can be time-consuming, often taking up to two full days.
Let’s take a closer look at the most marketable car parts and their approximate market values. It’s essential to note that these prices are based on factory-installed components. If you’ve upgraded the vehicle with high-end aftermarket items such as a premium radio system, top-tier tires, or other accessories, these items may retain their market value when reselling the vehicle or its parts.
Engine: The engine is undoubtedly one of the most valuable components of a car. Depending on the make and model, a salvaged engine can fetch a considerable sum. On average, you can expect to sell an engine for several thousand dollars.
Price: $500 To $1000
Transmission: Transmissions are another high-demand item. They can range in value from hundreds to over a thousand dollars, depending on their condition and compatibility with other vehicles.
Price: $200 To $400
Catalytic Converter: The precious metals within a catalytic converter make it a hot commodity for recycling. These devices can be worth several hundred dollars due to their metal content.
Price: $150 To $250
Airbags: Functional airbags, especially those from recent models, can command a decent price. You might sell a set for a few hundred dollars.
Price: $100 To $200
Navigation Systems: Modern vehicles often come equipped with sophisticated navigation systems. If these systems are in good working order, they can fetch anywhere from a couple of hundred to over a thousand dollars, depending on their features and brand.
Price: $20 To $100
Alloy Wheels: Upgraded or stylish alloy wheels are sought after by car enthusiasts. A set of four can be valued at several hundred dollars or more, depending on their condition and brand.
Price: $20 To $50
Body Panels: If the car has body panels in good condition, such as doors, fenders, and hoods, you can sell these individually. Prices vary, but they can range from tens to hundreds of dollars each.
Price: $100 To $200
Radios and Infotainment Systems: High-quality factory-installed radios and infotainment systems can be worth a few hundred dollars. Upgrades or specialized systems may fetch even more.
Price: $20 To $100
Exhaust System: Depending on the type and condition, the exhaust system can be sold for a few hundred dollars, especially if it’s an aftermarket performance system.
Suspension Components: Shocks, struts, and other suspension parts can be in demand, particularly for vehicles with aftermarket or high-performance suspensions. Prices vary, but they can be worth a substantial amount.
We’ve conducted an extensive analysis of junk car prices, considering vehicles from various years, makes, and models, and the findings are truly remarkable! The trend in 2023 shows no signs of slowing down, as junk car prices continue to climb to new heights. There has never been a better time to make the most of your old vehicle.
Presently, the states with the highest average prices for junk cars are New Jersey, leading the pack at an impressive $809, closely followed by New York at $762. Florida and Massachusetts also boast substantial figures, with junk cars fetching an average of $723 and $712, respectively. In these states, you can truly maximize the value of your old vehicles.
On the other end of the spectrum, states with the most modest average prices for junk cars include Wyoming, where they average a mere $117. Montana follows suit with an average of $286, and West Virginia isn’t far behind at $332. North Dakota and South Dakota both report average prices of $333 and $367, respectively. Kansas rounds out the list with an average of $389. If you’re looking to sell a junk car in these states, it’s essential to be mindful of the potentially lower returns.
In summary, the junk car market in 2023 is on an upward trajectory, with certain states offering significantly more favorable prices than others. Whether you’re in a high-value or low-value state, the current market conditions make it a prime time to get the most out of your old vehicle.
Certainly, we must not forget Minnesota in this discussion of junk car prices. Minnesota is another state where the value of junk cars is on the higher end of the spectrum. In fact, it ranks among the states with the highest values for junk cars. The average price for a junk car in Minnesota is noteworth.
So, if you find yourself in Minnesota with an old vehicle that you’re looking to sell, you’re in a favorable position to maximize its value. The state’s strong junk car market ensures that you can make the most out of your old automobile. Whether you’re in New Jersey, New York, Florida, Massachusetts, or Minnesota, 2023 is indeed a great time to consider selling your junk car for a respectable return.
