With prices being a massive 61% higher than the start of last year, we begin 2017 on a good footing. Prices remained at a fairly constant level throughout most of January and have in fact resulted in a small but healthy 2% increase over December.
However, in recent days we’ve witnessed some alarming drops in several areas of the country. Many within the industry are wary that this could be the start of a free fall back to the levels we saw ten months ago.
The more cautious car owners preparing to dispose of their old car, who are holding out for the best price, may be well advised to do a deal before prices fall any further.
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.
With all quotes guaranteed for seven days, it makes sense to enter your registration and postcode into the CarTakeBack website, to get an instant quote for your old car. Then, if prices do continue to fall, you’ll be in a safe position.
We’ll even tell you if your car is worth more than scrap as we buy used cars as well as scrap cars.