After a healthy start to the year, scrap car prices dropped dramatically throughout the month of February, falling 10% on the CarTakeBack price index. This came as no surprise as it followed the predictions that we made in last month’s update.
This puts the prices currently being paid when you scrap your car at 158% on our index – that’s 58% higher than the same time last year.
But there could be good news on the horizon as in the last few days we have seen prices begin to creep up. As is always the case in this variable scrap metal market, we don’t know for sure whether scrap car prices will continue to increase, or as we saw a month ago, whether we’ll experience another sudden fall.
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.
For an up to date valuation of your car as scrap metal, simply tell us your registration, so that we can identify your car, along with your postcode, so that we know where you are within the country.
We’ll give you a free, instant, no-obligation quote for your scrap car. And the best bit is that your quote is valid for seven days, so if prices were to fall even further, you’ll be in the pound seats.
Your car could even be worth much more than scrap if it has plenty of re-usable parts or could be returned to the road – just let us know what condition it’s in and we’ll give you our best price.