What Is Scrap and Salvage Value?

Here at BMS Salvage, as the UK’s leading buyer of damaged cars, we’re proud of our ability to offer the very best prices for End-of-Life vehicles, no matter their condition or whether they look like they’re destined for the scrap pile or could be salvaged. If you’re looking to get a quote for your car, you may be wondering what the difference between the two are, so, as experts on the subject, let us explain.

Scrap Value

The value of a scrap car is the price that you’re able to receive from a scrap merchant for your car. This will largely be determined by the weight of your car multiplied by the current going rate for scrap metal. Where you might find certain cars are worth more on the second hand market thanks to their ‘prestige’ level – for example a BMW is likely to fetch a larger sum than a Skoda, when it comes to scrapping, it’s mostly down to the weight of your car. Simply put, the heavier your car is, the more weight there is for the scrap merchant to work with, which pushes your quote up as a result.

If you have any valuable items such as a working engine, gearbox or alloy wheels, then this may help bump up your scrap quote as these can be removed by the scrap yard and sold on as spare parts. Likewise a catalytic converter can help push up your scrap value as these are made from precious materials such as silver and platinum, so these could be recycled for future use as jewellery or other expensive items.

Salvage Value

Salvage value is calculated much more like a second hand car sale than that of a scrap sale. In this instance, you’re providing a vehicle that can either be returned to the road after repairs, or used as a donor for spare parts to go towards another vehicle. This means your value will be determined by how much a full working car would go for on the used car market, minus any costs incurred through parts and labour for the repairs. For example, if a car would likely fetch in the region of £2,000 on the used car market, but requires at least £1,500 worth of repairs for it to be roadworthy again, then your salvage value would likely be around £500. If your car is repairable, it’s always worth checking to see if you could get more as salvage rather than scrap.

Just like with scrap value, any valuable items on the car will help push the price up that little bit more. Of course, you could try and remove these yourself to sell separately, but remember that will hinder the overall salvage value of your car and there’s no guarantee the combined figure will be worth than the offer would have been had you left them on in the first place.

Scrapping Made Simple with BMS Salvage

Here at BMS Salvage, we are the #1 buyer of damaged cars in the country, meaning we can guarantee you a simple way to get the very best price for your car, no matter its condition. Dealing with both scrap and salvage vehicles, we’ll offer you a competitive quote no matter where you are in the country. With free collection thrown in, there’s no better way to get the best price for your scrap or salvage car. Get started today and see just how much your broken and unwanted car could be worth.