More than 50 years ago, it was not unusual to see junk cars left on the side of the road or winding up in a landfill. Since then, we have come a long way when it comes to handling junk cars.
cash for clunkers
Gaining Weight: Today’s Pickup Trucks are Heavier
The Wall Street Journal reported that today’s pickup trucks are bigger than they were almost 20 years ago. The article cited data from the U.S. Department of Energy’s Oak Ridge National Laboratory which showed that the average pickup is now 1,142 pounds heavier than it was in 1990.
Higher Scrappage Rate Means More Junk Cars Off the Road
A recent study from IHS Markit showed that, despite a growing number of older vehicles on the road, the scrappage rate went up last year. In 2019, the scrappage rate was 5.1%, compared to 4.6% in 2016 and 4.2% in 2009.
How Some Mechanics Scam Vehicle Owners
Some mechanics will trick unsuspecting car owners into getting unnecessary and expensive repairs done to their car. These mechanics will “discover” a “problem” somewhere and convince the customer that it needs to be fixed now.
Average Car Depreciates by 39.1% after Three Years
A study done by iSeeCars found that, after three years, the average depreciation of a car is 39.1%. The automotive research firm noted that three years is the average term of a lease and the ideal age of a used car for prospective buyers. “Three years is a popular age for used car buyers because the cars have taken a major depreciation hit, but likely have many of the latest modern safety and technology features,” stated Phong Ly, iSeeCars’ chief executive officer.
Experience Counts When It Comes to Selling Your Junk Car
There are many “cash for cars” operations out there that say they are the best and pay the most money for your junk car. But have you called these companies and found out how many hoops you have to jump through before getting a fair price for your old car? Did you get the impression you were speaking to a middleman, realizing you will not get full value for your car?
Should You Buy a Certified Pre-Owned Vehicle?
In an attempt to lure people to buy their used cars, auto manufacturers offer a Certified Pre-Owned (CPO) program, which offers numerous benefits to the owner. But what happens when the program expires, and you are no longer covered? If you don’t have any more use for your old car once the coverage ends, sell your car to Gershow Recycling.
Will There Be a Revival of “Cash for Clunkers”?
A group of federal lawmakers is asking Congress to boost the sagging auto industry during the coronavirus pandemic. What hasn’t been determined is whether there will be a second version of “Cash For Clunkers,” an Obama-era federal program that provided financial incentives to consumers to replace their older, gas-guzzling vehicles with newer models.
