Another small increase took place in October with scrap car prices rising 4% on our index from 91% to 95%. This is understood to be due in part to increased demand for steel in Spain, which is one of many steel-producing countries around the world. Not only is this is a new high for 2016, but this also takes us very close to the prices being paid for scrap cars in the UK this time last year – just 5% lower.
Unless we experience another sudden fall in scrap metal prices, like we have done in the past without warning, the prices paid for scrap cars could well increase another 2 or 3 percentage points on our scrap car price index by this time next month.
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.
If you eventually decide your old car has had it, and want to know exactly what it’s worth as scrap, or even as spare parts, all you need to do is tell us your registration and postcode to get an instant quote for your old car.