Gone are the days that we have to pay someone to tow away our scrap car, but that doesn’t mean anyone is going to retire early on money paid from selling their old banger. With the growth in the scrap market keeping apace with the increasing value of scrap metals, drivers are now able to rid themselves of their MOT write offs and crashed vehicles without incurring any charges by simply making a couple of calls.
Breakers yards are increasingly on the look out for new business, and increased competition means that they are resorting to ever more visible means to attract our business. They are investing in adverts, and are erecting huge signs on major routes to alert us to the fact that there is money to be made from old cars. But, regardless of this, the amounts of cash that are being offered pales when compared to the cost of the advertising campaign itself. And, the fact that scrap yards are going to such lengths, at considerable cost, in order to attract new business, is very telling. Adverts in magazines and local papers often cost hundreds, if not thousands, of pounds. This fact alone is the first tell tale sign of the scale of the profits that can now be earned from processing scrap vehicles at Junk car removal Toronto.
Breakers yards can make money in two ways; firstly from selling the usable parts of scrap vehicles to people wishing to source cheap second hand replacement parts to repair their broken down cars, and by crushing the remainder of the car and selling the metal as scrap.
The recession has been kind to this industry, although it has crippled many others. Everyone is looking for a bargain these days and so breakers yards have seen an increase in the number of people who wish to purchase their car parts from second hand sources. And, it has also positively affected the value of metal. As the value of scrap has steadily risen over recent years, allowing scrap merchants the opportunity to appreciate better prices for scrap on a continuing basis, they are watching their profits rise from both of their key interests.
There is, however, one instance where they won’t be making any money for scrapping a car, even though it will cost in the region of £5,000 to crush. A Dublin recycling company have offered the public an opportunity to crush the former BMW of Sean Fitzpatrick, the fallen Anglo Irish boss, by entering into a bid to secure the privilege. Anger at Fitzpatrick, and the state of the Irish economy has prompted people to bid in their thousands. But, the money will go to charity!