If you’re contemplating selling your car parts for a potential profit, follow our tips to optimize your sales.
Firstly, differentiate between selling your entire car and selling individual parts. Selling your car for parts involves selling it as a complete unit to a buyer who will dismantle it. On the other hand, selling car parts entails breaking down your car and selling each component separately to different buyers.
The primary motivation for selling car parts often arises when the car is no longer functioning correctly or is too costly to repair. It’s crucial that the parts you intend to sell are in good condition.
The aftermarket automotive sector is projected to reach $513.1 billion by 2027, with an annual growth rate of 3% until 2030, signifying its significant global presence. The COVID-19 pandemic has catalyzed a surge in online aftermarket sales, with a 30% increase in automotive eCommerce sales in the United States.
Before delving into selling auto parts and accessories, consider various factors. While selling car parts can be lucrative, it demands dedication, knowledge, and the right tools. If you choose to hire a mechanic, keep in mind that hourly rates, typically ranging from $60 to $100, can impact your anticipated profits, as extracting valuable car parts can be a time-consuming process, sometimes taking up to two full days.
Let’s examine the most marketable car parts and their approximate market values. Note that these prices are based on factory-installed components, and any upgrades, such as premium radio systems or top-tier tires, may retain their market value when reselling the vehicle or its parts.
- Engine:
- Price: $500 to $1000
- Transmission:
- Price: $200 to $400
- Catalytic Converter:
- Price: $150 to $250
- Airbags:
- Price: $100 to $200
- Navigation Systems:
- Price: Varies, potentially a few hundred to over a thousand dollars
- Alloy Wheels:
- Price: $20 to $50
- Body Panels (Doors, Fenders, Hoods):
- Price: Varies, ranging from tens to hundreds of dollars each
- Radios and Infotainment Systems:
- Price: $20 to $100
- Exhaust System:
- Price: Varies, potentially a few hundred dollars, especially for aftermarket performance systems
- Suspension Components (Shocks, Struts):
- Price: Varies, potentially a substantial amount, especially for aftermarket or high-performance suspensions
In 2023, the junk car market continues to thrive, with prices reaching new heights. Presently, states with the highest average prices for junk cars include New Jersey ($809), New York ($762), Florida ($723), and Massachusetts ($712). Conversely, states with more modest average prices include Wyoming ($117), Montana ($286), West Virginia ($332), North Dakota ($333), South Dakota ($367), and Kansas ($389).
Minnesota also stands out as a state with high values for junk cars, showcasing the robust nature of its junk car market. The average price for a junk car in Minnesota is $400 to $3000.
Whether you find yourself in a high-value or low-value state, the current market conditions make 2023 an opportune time to maximize the value of your old vehicle. Whether you’re in New Jersey, New York, Florida, Massachusetts, Minnesota, or any other state, selling your junk car can yield a respectable return.
