Posted on 30 November 2016 by CarTakeBack

In the previous CarTakeBack scrap car price update, we reported on signs of a small expected increase. However not only did prices climb throughout November, they surpassed all expectations, rising 13 percentage points above October levels.

Not only does this mean that the prices paid for old cars sold as scrap are 22% higher than this time last year, it's also another new high for 2016.

Though there have been signs that due to the strengthening of the pound, the prices being paid for scrap cars over the past couple of weeks have plateaued. As a result, the industry is on tenterhooks in case another sharp fall is just around the corner.

About CarTakeBack's Scrap Car Price Index

The CarTakeBack Scrap Car Price Index is a rolling monthly index covering the last 13 months. It's updated monthly using the prices paid for scrap cars at CarTakeBack recycling centres throughout the UK. The prices are shown as a percentage, using the first month as the base price.

We've taken into account that cars come in all shapes and sizes, which has an effect on their scrap value, by adjusting the prices to show what the average car would be worth. This means that the index gives a great indication of the movement in the value of scrap cars from one month to another.

Check out previous scrap car price updates >

Luckily it takes just seconds to find out what your old banger could be worth as scrap with CarTakeBack, by simply entering your registration and postcode. And as all quotes are guaranteed for 7 days, you'll be safe in the event of a sudden drop in scrap car values.

Better still, if your car has some sought after parts which could extend the life of another car, it could be worth much more than scrap.