Determining a "junker trucks" worth at junkyard

[Sigarms]

Exactly how do you determine the value of a truck you had towed to a junkyard?

I don't want to be unreasonable, by the same token, also don't just want to give it away when the tires alone are worth money.

The guy at the junkyard was nice enough to meet me after hours when we brought the truck back. I also had to get it towed somewhere, so he was doing me a favor to meet me after hours as I didn't want to put it on our property only to have to inevitably have it towed at a later date.

See attached, the roof of the cab seems to have taken the entire brunt of the accident with some light body damage, but we were actually able to put the truck in 4 wheel drive and drive it right out of the ditch and onto the carry trailer.

Even though the truck only cost my boy $800 with an added $650 to get it to pass inspection, I would prefer to recoup ww I can.

What is the going rate for trucks for parts and how do you even start to figure out what is fair for both the junkyard and former owner?

At the end of the day, a dumb 16 year old's life was saved only for the fact that he was wearing his seat belt, there were no other vehicles involved, no passengers and no property damage. Time will tell if he learns his lesson. He still seems to have no clue how this will affect his driving privileges, particularly when he's on our insurance.

 

[Midniteoyl]

Last time I had a vehicle towed off (a '97 Intrepid in 2012) we basically made a deal for the mostly new tires ($50ea), catalytic convertor ($300), and scrap value of the rest ($350) so $850. Not sure what those values would be today.

Glad that your kid is ok. Worth every penny lost right there.

 

[Slowpoke Slim]

Penny a pound for scrap steel.

Unless you want to take it home and part it out yourself.

 

[stingray1]

Take it home and part it out,otherwise you’ll just be giving it away.

 

[flyerdan]

Ideally, find another vehicle of the same make and year range and keep this one for a parts donor.
Failing that, another vote for parting it out yourself; either a wrecking yard or a scrap dealer won't pay anywhere near what it's worth, not in their business model.

 

[Sigarms]

I understand (and it makes sense) that parting out everything yourself makes the most business sense as far as recouping money. The issue becomes how long the truck is going to sit someone on our property and what the boiling point of my wife will be vs that time frame

I could tell her we could park it in the garden as an ornament and grow something in the truck bed to boot, but I don't think she'll go for it.

At the end of the day, no one was hurt / hopitalize or killed, and after spending about 4 hours at the accident site taking care of everything on my sons end, we're just counting our blessings (something he seems not to comprehend).

I have little doubt that my wife won't want to see that truck anymore because it was a sore spot becuase I let the boy buy the truck in the first place because we wouldn't of touched it with a 10' pole on our end (my fault because the boy had money burning a hole in his pocket and he was going to buy ANYTHING since he had the money saved as long as it was truck and had 4 wheels).

The tires along are probably worth a couple of hundred bucks and the boy wants to keep the tires for another truck, but he's not thinking. He has no money to buy another truck, at least not one that's in decent shape (let alone another "junker"). Added the fact that the accident was soley his fault for being irresponsible. Not trying to be hard butt's, but the kid has to learn and be grateful he didn't kill someone else or himself.

 

[Oaktree]

Depends on what it is, of course (ie-local demand for that vehicle parts), but around here a junkyard will give you $50, maybe $100 if you bring it to them, nothing if they have to come and get it. Scrap metal dealer might give you a couple cents/lb, but you'll need to drain all fluids and maybe remove the glass, getting it there is on you.

If it were me, I'd strip out anything of value; tires (you mentioned they were almost new), stereo if it's got one and then let the junkyard take it. From what I could see in the picture, there's not a lot of good body parts (maybe bed if it's not rusted) on it. Unless it's got a particularly rare engine/drivetrain that stuff's dime a dozen.

 

[Sigarms]

If it were me, I'd strip out anything of value; tires (you mentioned they were almost new), stereo if it's got one and then let the junkyard take it.

Truck has no radio, and then the question becomes where do you keep the tires and how long do they sit (we already have some tires sitting around from my truck LOL).

What I think I'll just do is let my son negotiate with the junkyard owner, and tell my son anything he lets sitting outside on our property will run him $100 per month for rent (or if it's the entire truck, he pays for towing and then the rate becomes $200 per month until everything is gone).

Nothing in life is free. You either make enough money to get by or your don't, and if you F up in your decision making process as an adult, you alone are accountable for what YOU do.

For myself, $400 would be more than fair to let the junkyard owner to make money on parts, but my son may think otherwise.

That said, we would of never have bought the truck to begin with, and that was his decision as well (which I have no doubt contributed to the accident, which I forwarned him about after driving the truck myself and told him what he needs to ensure he does).

He was cited for the accident which has more ramifications than just dealing with his parents and what to do with this truck.

At the end of the day, the key is not to put yourself in a bad situation to begin with per your own decision making process. Your parents can't think for you forever.

 

[Oaktree]

For myself, $400 would be more than fair to let the junkyard owner to make money on parts, but my son may think otherwise.

That said, we would of never have bought the truck to begin with, and that was his decision as well (which I have no doubt contributed to the accident, which I forwarned him about after driving the truck myself).

I don't know your son, his negotiating skills nor the going rate at junkyards in your neck of the woods, but I'd be surprised if he got anywhere near that. I guess it would depend on how old the truck was, from your description it sounds like it was barely roadworthy.

Good for you making him take responsibility for this.

 

[Sigarms]

I don't know your son, his negotiating skills nor the going rate at junkyards in your neck of the woods, but I'd be surprised if he got anywhere near that. I guess it would depend on how old the truck was, from your description it sounds like it was barely roadworthy.

Good for you making him take responsibility for this.

The truck really wasn't that bad. He got it for $800, and the 4 wheel drive worked good (I took it out back to try some things with it and it passed). Honestly, it wasn't any worse than our own families '72 truck with 3 speed on the column (drives like a U boat, where I failed my first drivers test but passed the next weekend with a automatic ford escort LOL).

That truck drove nothing like my boy was used to vs the honda accord, and that's what I warned him about.

Thing is, when a 16 year old buys a vehicle, you want to ensure it it safe (thus the additional $650 to pass inspection, which he paid me to get it done, so the truck really didn't cost $800 up front, and we explained that this process was going to happen before he bought anything and why you need to consider everything with a used vehicles sell price).

I've only bought used vehicles in my entire life. I do however have expectations that I understand costs money vs vehicle age and mileage. I've NEVER ever bought a used vehicle for under 5k, and both my wife and I explained this to him and why (he would have none of it because his money was burning a hole in his pocket).

Best way I could put it is the truck would of been great to drive on our own property as a "farm truck", but it would not have been my choice for a main vehicle for transportation driving to and from work for numerous reasons, gas mileage alone taking all the other variables out (something my son coudn't comprehend since all he wanted was a truck and he was blinded to all othe realities). He wants to play redneck with his friends and has to have enough room for his fishing gear, thus the Honda accord we had bought would not work for him, and he had to buy what he wants.

Hope this makes sense.

When you're a juvenile and want to be an adult, and don't listen to your parents for advice, way I see it, you don't need your parents to bail to out.

I'll drive him to the junkyard Monday and let him deal with it.

Guess I needed to post this to think it through per the responses because I was looking for advice. At the end of the day, I can't think for him, particulary when I don't know what I'm doing in his eyes.