In last month’s update we commented on the continued decline of scrap car prices across the UK. This April however, we can clearly see a 3% increase compared with the previous month of March. This would appear to support the recent industry speculation that due to greater demand from foreign steelworks, prices could now be on the increase. The sceptics amongst us would, of course, be quick to point out that we experienced a similar increase of 2% back in December, only for prices to then continue to fall further.
One thing is for sure though, we have a long way to go before we’re back up to the levels we saw this time last year, which were 64% higher than where we are today.
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.
To find out exactly what your car is worth, no matter where you live in the country, all you need to do is tell us your registration and postcode. If your car still runs or there are any parts that can be removed and sold, it’s likely to pocket you more than just scrap value.