The industry talk of prices being on the recovery, that we mentioned in last month’s report, appears to have been accurate. Although growth is slow, scrap car prices continue to creep upwards with a further 3% increase in August compared with July. This puts the prices that are now being paid as the highest this year and equal to that being paid in December last year.
Although scrap car values are still 40% lower than the same time last year, these small month on month increases (which is a trend that looks set to continue), mean that we’re now a considerable 13 percentage points in front of the lowest point we experienced back in March.
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.
You can find out exactly what your car is worth by getting an instant quote. If your car has any sought after parts which can be resold, meaning it’s worth more than its value as scrap metal, we’ll give you our best price.