On waste collection day, the truck comes early in the morning.
This machine is practically junk now.
廃品 is a more formal term for discarded goods or scrap materials, while ジャンク is a casual loanword with the same basic meaning.
waste collection; recycling pickup; salvaging
Compound of 廃 (hai, 'discard, abolish') and 品 (hin, 'goods, article'). The exact historical derivation is uncertain, but the combination straightforwardly means 'discarded goods'.