How can I earn money if I have a scrapyard near me?

Check out this interesting fact. The US is one of the world’s most prolific copper recyclers. The amount of copper recycled in the US every year could be cast into 25,000 Statues of Liberty.

At some point, you must have wondered that ‘I have a scrapyard near me, what if I could earn a couple of bucks by selling it?’ You can make a lot of money by just selling scrap to your nearest scrapyard. If you have any kind of scrap, load it up into your car or truck, head to the nearest scrapyard, and try to sell it. Once it gets sold, you’ll see how easily you get money.

In this article, we will tell you about the ways you can make easy money by selling scrap in the scrapyard.

But what comes under the cap of scrap that can make you a ton of money? The answer is METALS. Do you know what type of metals the scrapyards buy?

Brass, stainless steel, steel, iron, nickel, lead, zinc, aluminum, and copper are the most common metals that are bought by scrapyards daily.

Other things like old vehicles, motorcycles, electronics, appliances can also be sold at the scrapyard.

Many of you may even don’t know how big the scrapyard industry is. The truth is, things that are scrap for you might be valuable for someone else.

So, if you count yourself among the people who wonder, “Oh! I’ve got a scrapyard near me; I should probably sell my scrap here more often.” You’re in for a treat! In this article, you will learn more about how to efficiently sell your scrap to the scrapyard.

Find out the worth of your scrap

First things first. Having essential knowledge about your scrap’s value can motivate you to earn some money. The best way for you to learn what your scrap is worth is by surfing online. Just search for the “scrap car value”. Next, you need to check out the value that different websites are offering for the same thing that you’re about to sell to a scrapyard.

Moreover, make sure that you thoroughly go through at least the first 10 search results on the web. The main reason behind this searching is to know the worth of your scrap.

Having more scrap is directly proportional to having more negotiating power

Whenever you take your scrap to the scrapyard, make sure that you take a bulk of scrap. You’ll get paid more for the scrap. The reason behind this is that when the scrap dealer sells more scrap metal to his/her buyers, they get paid more for it.

Should I contact the scrapyards near me to compare the prices?

The simple answer is, yes!

Well, the scrapyards will never tell you the exact amount that they will pay you without actually seeing the scrap, but you can still ask them about how much they would pay for a pound of certain scrap metal. Moreover, use the internet to search about the scrapyards near me and you will find many of them in your neighborhood. You can contact those scrapyards and ask for the prices that they will offer. You can then figure out that which scrap yard is paying you better. Once you find out, head over there and sell out the scrap in exchange for some decent amount of money.

Should I rent a truck?

It depends upon the quantity of scrap metal. If you have a lot of scrap metal and you know that putting it in your car might damage your car, you should probably rent out a truck. This will help you in transporting the scrap from your home to the nearest scrap yard. Also, instead of renting a truck and paying for it, you can ask around in your social circle, if anyone agrees to lend you their truck, that would be more convenient.

Try to negotiate with the scrap dealer

We have observed that people tend to get nervous when it comes to negotiating the scrap that they own. Even though it is just scrap, it sure can earn you some money. Settling for less than the worth of the scrap is certainly not okay. There is nothing wrong with asking the dealer to raise the price for your scrap. It does take some confidence, but what if the dealer is quoting you the price that is much less than the worth of the scrap? In this scenario, you can always back off and visit another scrap yard that will offer you better bucks in exchange for scrap.

Scrap metal separation

Whenever you decide that you will visit the scrap dealer and sell the scrap metal, make sure that you separate the metals from the pile. It’s a time-consuming job but this exercise will save the scrap dealer’s precious time. He/she won’t have to separate all the metals.

To test it out, you can try taking the scrap to the dealer with and without separating the metal. You’ll observe how the dealers may change their prices for buying your scrap.

Be careful, you might be getting scammed

Well, many scrapyard dealers in your town are earning money through making the deals ethically and with honesty. But, still, there are many factors that you should consider while making a deal or selling your scrap to a scrap yard. The truth is, a lot of people tend to deceive you when it comes to selling or buying scrap material.

Given below are some of the key considerations that you should always keep in mind while selling out your scrap.

The misdirection technique

You should remember that an honest scrap dealer will never force you in accepting the deal that he/she is offering. Instead, he/she will inform you about everything in detail. Many scrap dealers will misdirect you and they will try to offer a lot less amount of money than the scrap is worth. You can easily pick these types of scrap scammers by some traits that they carry. For instance, they will not answer your questions correctly or they will confuse you by telling you that the scrap is not worth as much as you have anticipated. It’s simple if you are confused about the deal, just leave the deal.

Make sure that the scrap yard is licensed

First of all, you should check online if the state that you are living in offers a scrap yard license or not. If the state issues a scrap yard license, then you should check and verify whether the scrap yard you are about to make a deal with is authorized or not. However, if the state does not offer any special scrap metal license, you can always check for the business license. A legal scrap yard should always possess a valid business license. Keeping things legal is good and it is safe for both of the parties.

So, if at any point, you find out that the scrap yard is unauthorized to deal with, you should probably drop the idea to enter into a deal with that particular scrap yard.

Getting exploited by tow truck drivers

The tow truck drivers might rip you off in certain ways. For instance, they might tell you that the car that you are about to sell to the scrapyard is not worth as much as they are quoting or they might ask you for a fee. Remember that the tow truck service is arranged by the scrapyards so they are supposed to pay for the towing service. However, if you find yourself in a position where you have a gut feeling that something is wrong, always contact the scrapyard to get things sorted out.

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