Are You Aware of the Hidden Treasure Inside Your Old Car?

Once a car passes its prime, the burning desire and admiration its owners once had starts to fade. The repairs, the expenses – they’re all signs that a new set of wheels is in order. Now you might not think much of your car when it reaches the junkyard, but it still has a ton of value. Precious metals may abound inside of it. So if you want cash for gold or cash for silver, look beyond your jewelry box, and give your car a second glance. There’s a lot more to it than a rusting frame.

Pirates of the Junkyard

Few people drive by a junkyard with a sense of excitement. For most, it’s a just a sea of spare parts. Children and car junkies may be the only ones who get a rush when they drive by. It’s too bad that most people have a sense of apathy to the junkyard, because there’s a ton of gems lingering in these automotive wastelands.

Precious Metal Paradise

• Gold – Chains and bracelets aren’t the only objects that will get you cash for gold.
• Silver – Just like gold, you can acquire cash for silver by mining certain car components.
• Platinum – It’s rare, expensive, yet present in cars.
• Palladium – With its name rooted in Greek mythology, palladium is present in vehicle parts.
• Rhodium – Discovered in 1803, Rhodium, too, can be found in motor vehicle parts.

Where to Find Them

• Catalytic converter – This part is one of the most well-known sources of precious metals. The catalytic converter typically abounds with these elements, including platinum, palladium, rhodium, and gold. If you’re looking for a mine away from a mine, look here.
• Electronic components – All the lovely wiring and computers that make express windows and power windows functional contain precious metals. You’ll no doubt find a good bit of gold and silver in these components, since they are great conductors for electricity.
• Airbag units – Your airbag is not only a lifeline, but also a source of precious material. The airbag sensor module contains a gold-plated ball, which refining companies are willing to buy.

Out of Curiosity: Why Do Auto Companies Throw Precious Metals in Cars?

Some people may see the “blinged-out” rides of entertainers, athletes, and business people, thinking they’re the only ones who would throw shiny gemstones on cars. It’s true that many celebs do this, but precious metals are more than just adornments – they have practical applications in automobiles. For example, gold and silver have high conductivity, making them perfect for the wiring in cars’ circuitry (as mentioned above).

And the platinum family, that is, platinum, palladium and rhodium, go into catalytic converters since they act as “catalysts” (hence the name catalytic converter) that reduce the toxicity of car emissions. So you can see here that precious metals aren’t just ornaments to give your car some added shine.

Thief Magnets

Refineries aren’t the only ones who are after the precious metals in your car. Criminals want their own share. There was a time when carjackers stole rims and sound decks, but it now seems that their attention has turned to things like the catalytic converter. In fact, several news outlets have reported the increase of thieves stealing the catalytic converter, while leaving cars in their places!

An article written last November for the UK’s Telegraph, revealed that over 25,000 catalytic converters were stolen by thieves from eastern Europe residing in South Yorkshire and Bedfordshire (in England). If there’s anything positive to take away from these occurrences, it’s the reminder that you’re car is worth a lot more than what’s seen in a junkyard.

Mine Your Car Before a Thief Does

One thing you want to do is discover the precious metals lurking in your car before a thief does. After all, it’s your vehicle, and no one should profit from its “decommissioning” more than you. You can be sure to find a refining company that’s eager to pay you a good sum of money for your car parts, whether it’s cash for gold, cash for silver, or for any other metal considered precious. However, there are a few things you need to double check before doings so.

Things To Do Before “Mining” Your Car

• Learn about your car’s most valuable parts – The catalytic converter has taken center stage in this article. However, there are other parts which may contain valuable metals depending on the make and year of your vehicle. That’s why it’s wise for you to do some additional research on your car to see what parts could earn you more cash.
• Learn the value of the metals – As for the metals themselves, it’s also a good idea for you to know their individual worth. Market prices fluctuate regularly, so speaking to a buyer or a trader beforehand can give you some insight regarding the value of your metals.
• Figure out how you’ll extract these metals – It’s vital for you to give thought as to how you’ll extract these metals from your car. Some of you are “hands-on” individuals, so you’ve got both the know-how and tools to remove these parts on your own. For the rest of you, a helping hand will be necessary.

A Treasure Box Under Your Nose

The most obvious plan of action for a new car may seem to just sell it. And there’s nothing wrong with taking that route. However, you should look beyond your car’s age, and appreciate it for the precious metals it may contain. That extra sum of money you seek could come from you selling a car part, so don’t assume that your old set of wheels is only good for a junkyard. Today’s auto manufacturers throw in a ton of high value materials in cars, and they are yours to take advantage of.

Need more info on how we process catalytic converter sales? Get in touch with us so we can explain it to you!