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Literally millions of cars are sold for scrap each year in the United States alone. During the economic boom over the last seven years, a scrap car in Chicago usually found its way into the steel girders of the building booms in both India and China. That's the global economy for you.
With the world economy in the deepest recession in decades, junk cars in the U.S. often face a much different future.
As construction has faltered, so has the demand for, and price of, scrap steel. Add to that the fact that people are driving cars longer these days, much to Detroit's dismay, and the demand for spare parts and cheap older cars is rising.
Today, a scrap car is much more likely to be either fixed up and resold, broken down for spare parts, or be sold at auction. A scrap car is no longer simply valued based on its weight in steel. Instead, the changing marketplace is much more complicated.
The good news is that the scrap car you would have donated four or five years ago for a small tax deduction might be able to to earn you some fast cash today.
If you have a popular older model car that you can't afford to fix up, make some phone calls to the junk car removal companies. Your car may have been scrap just a few years ago, but today it could be needed cheap transportation or used parts in our struggling economy.
Make a few phone calls, get some cash offers, and make sure that whoever you sell to offers free car removal. Your scrap car is in demand.