The rate of growth that we reported in our previous monthly update at the end of May, has all but levelled out in June. Last month was almost on par with June (just a 1% increase month on month) and so our apprehension about whether scrap car prices would continue to rise was well founded.
Taking a step back at the wider picture, our index shows that the prices currently being paid for scrap cars are still massively down (57% lower) compared with this time last year.
At this present moment in time, whilst there aren’t any concrete predictions, if we do see any increases in the short term, they’re expected to be small.
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 how much your car is worth in your area by entering your registration and postcode to get an instant price. If it has some salvageable parts, it could be worth more than the scrap metal value alone.