When selling auto parts to auto parts recycling companies, vehicle owners must understand the various methods they can use to ensure they achieve top value for the years of investment they placed into the vehicle. While most auto recycling firms are more than willing to offer a fair market value for used auto parts, there are some companies that will try to get the cheapest possible price. Therefore, it’s important that sellers conduct their market research before taking the auto part to the recycling marketplace. In this blog, we’ll provide a 3-step guide to negotiating parts pricing for sellers.
1) Have Auto Parts Valued by a Professional
Before even contacting any recycling companies in their area, parts sellers must review various resources to find out how the part is being valued across the industry. Trusted mechanics are the ideal choice of specialist. That’s because the mechanic will not only tell the seller how much it costs for the part, but they will also have an understanding of the cost of integrating the part within a vehicle. This full cost of parts procurement and installation is an important figure for those considering the true value of the part to the marketplace.
2) Decide on Value
The value of the part to the seller is often different to the value placed upon the part by the marketplace. Most sellers are selling the part because their vehicle is no longer in running condition. And therefore the part has limited value to them unless they have the mechanical understanding to install the part in a new vehicle. The value of the part should take into consideration the part’s age, it’s mileage within the vehicle and, if the part is new, its cost during a previous transaction.
3) Contact Auto Parts Recyclers
When offering auto parts recyclers a particular part, it’s imperative to provide them with full information immediately on its value. Recyclers will ask for the age of the part, as well as manufacturing details before they make an offer. When negotiating a price, sellers should tell the auto recycling company that they’ve had the part valued by a professional and give details on the parts value as well as additional details provided during the research process. Auto recycling companies may be able to provide additional details on the part and will make an offer based on the part’s value to their business.
Presenting the maximum amount of information to auto recyclers is the ideal method for achieving full value for used auto parts. Armed with information from professionals, as well as with an understanding of the valuation process, sellers can begin the negotiation process on the front foot. To learn more on the nuances of auto parts pricing negotiation, contact our friendly service staff today.
