Potenitial and regulation?

Hey all this is my first post. Glad to be here. I've been wanting to buy junk cars of craigslist and sell them to the scrap yard but I've got a plethora of concerns and questions. I apologize i'm a rookie at this. I live in maine if that means anything. So i'll get down to questions I guess, is there any real potential in this, what type of cash is usually paid out by yards for cars. Where do I bring batteries and how much can I get for them. Do you cut cats because you have to or because you can get more for them. How much do you get for cats and where do you bring them. this is probably my biggest concern, How do laws apply, is there a limit to the amount of cars I can buy and sell to the scrap yard? do I need any licenses or permits and if so how should I go about getting them and how much do they cost? is it realistic to expect to be able to buy and scrap 10 cars a week making at least $100 purely from scrap from each car? anything else you guys could think to pass onto a rookie would be much appreciated. Thanks a million in advance

I hope you have reading glasses! ROTFLMAO! I don't even deal with cars but I can tell you no one is just going to tell you who what where and how you have to deal with these questions. Introduce yourself (in the Intro section) and ask specific questions AFTER you have spent the weekend reading posts that come up from your use of the search bar (top right corner) Good luck and Godspeed!

Oh, and welcome to the forum, all your answers are buried here, enjoy digging them up!

I scrapped cars for nearly 3 years.. with the prices the way they are right now (i.e. .02/lb) on the majority of what the car is.. I bailed on doing them at all. Some guys are sticking with it.. but that is all according to your business plan (you do have a business plan yes?)

So from someone who just "hung it up" I'd say it isn't worth the time vs effort. But that is a decision YOU have to make for yourself!

Welcome to the forum. Being from Maine I can tell you I got out of dealing with cars due to the low prices right now with prices being under .01 cent per pound at the local scrap yard within 100 miles of me. Most of the answers your looking for can be found by searching. As for licensing as long as your only hauling to the scrap yard you don't need a junkyard permit (local municipal office) or a state issued Recycler license (BMV Augusta can answer questions as well). Now as for catalytic converters im a buyer here and I can tell you I make more off the converters then I do most cars but that can depend on if the converter is full, 3/4, 1/2 full or empty. If is empty it has no value at all. You can find some of my prices on my scrap buyer thread here on the forum but the rest are on my website.

If you choose to go into buying and selling junk vehicles call the scrap yard ahead to get prices so you have a rough idea of what to offer, as well as what must be done to the vehicle some want them drained some don't, etc... Take for example here in Washington County were paying $50 each here at my yard with free removal from the Calais, Lincoln, and Houlton areas but I do pay up to $150 for some vehicles depends on parts value (have to be a licensed Recycler to sell parts) and the vehicles curb weight (you can do a google search for a rough curb weight on most vehicles). Don't forget about the legal side as well which I will discuss below.

TITLES REQUIRED FOR ALL VEHICLES 1995 OR NEWER in Maine NO EXCEPTIONS EXCEPT BELOW.

The law was changed in July to 1999 and newer if sold for SCRAP ONLY but most yards are still doing 1995 and newer must have a title because they sell parts or want to stick with the old law. The rest of your answers can be found here on the forum as well as by calling the Maine BMV in Augusta and your local scrap yards.

Start out reading thru here and I'll bet at least a few of your answers are here.

http://www.scrapmetalforum.com/vehicle-recycling/

Yeah read old threads and learn.

Just when you think you have seen and heard it all. This guy shows up.

Motley - Welcome to the forum, I think you are going to make a plethora amount of money scraping cars someday, in the "very" distant future, just don't bank on it this year!

Seriously do your homework, read as many post on this forum as you can and get familiar with the realities of a "workable plan" for yourself.

The money to be made in cars is on salvage parts. I bring them in, cut the cat, take the battery and aluminum wheels off, this keeps the thieves from getting it. Then I sit and wait. Some cars will be nearly completely stripped when they get crushed, some will be untouched. But you have to have inventory to sell parts.

As far as regs, you may or may not have local ordinances to deal with if you start what basically amounts to a salvage yard. And every state is different, but in NC I have to have a photo ID and run the VIN number on every car I buy through the DMV stolen vehicle database. Title doesn't really matter here.

Check local town laws. My town, if you have more than 2 "inoperable" cars on your property, you're considered a junkyard. Definantly get the title, unless you want to disassemble a vehicle entirely, beyond recognition. AKA fubar. Also from Maine.