5 Reasons you may think about Scrapping your Car

January 3, 2019 7:57 pm

When you are considering departing with your motor vehicle there are many different options available to you.  This includes trading it in, selling it to car purchasing company, private sale or even scrapping it.  Depending on the value and condition of the car will help determine which one of these options is the most cost effective.  If your car is only a year or two old and in good working condition then it would be crazy to consider scrapping it.  Here are just some of the reasons why you may consider scrapping your car.

Car Accident

If your car has been in an accident and maybe it has been deemed as unrepairable you may wish to then scrap the car.  You can use a company such as Scrap Car Network who will give you a quote and look to take it away.  Some of the complications in this instance may be the insurance company.  If your insurance policy has an excess of some sort then it is your responsibility to ensure that this is paid off first (may be a few hundred pounds).  In addition, depending on the circumstances of the accident, your car may be quarantined by the authorities pending an investigation therefore access to sell could take some time.  Ultimately if the car is written off and completely unusable then you will want to get as much as you can from the scrap value to try and offset some of your losses.

Low Value

If your car is of extremely low value then it may be far more cost effective to consider sending this to the scrap heap.  It is easy enough for you to get a rough value of your car online from many different sites.  The scrap value of your car can also be retrieved and it is then up to you to make a calculated choice as to what is the best way for you.  It is very important that if you are going down this method that you give the most up to date and accurate information that you can online as the people from the scrap yard will check its accuracy when they come to pick it up and if it isn’t correct, money will be deducted.

Easy Option

If you are not overly concerned about the money that you will get for the car and your main priority is to get rid of it and make sure you are legal then using a scrap yard could be the option you go for.  After getting the valuation and inspection and a price is agreed, the scrap yard will come to a place of your choice, pick it up and take it away for you.  The money transfer will happen pretty efficiently and is secure and safe.  In addition to this, most of the reputable car scrap yards will then offer to do all the legal paperwork on your behalf.  This will include informing the DVLA via the proper paperwork that the car is now off the road and has been scrapped. Failure to do this properly could land you in a heap of trouble with the authorities which could also include some fines.

Value of Assets

Some of the assets within your car could be pretty valuable.  People do all sorts of modifications to their cars which can include exhausts, wheels etc and ultimately a lot of these modifications could be valuable in terms of material types and recycling value.  This is where the scrap man comes in.  In addition to this, the scrap yard are not only interested in the exterior assets but also interior.  For example if you have a reputable sound system they may choose to rip this out and sell this on separately increasing the value that they will give you for the car.

Not in Use

Even if a car is not being used a lot, it can be an expensive asset to keep.  Depending on the age of the car, you will be liable to do MOT checks on a yearly basis.  These in themselves may not be expensive however the outcome of them could be.  If you are told by the garage as a result of the MOT, your car required major repair work then you may want to consider your options.  In addition to this, cars require to be car taxed.  In the UK this is determined by the emissions that is let out and depending on the car type you have this can also add a lot of money to your overall bill.  Lastly, insurance can be expensive depending on your driving history, penalty points, age and location.  If the car is not being used a lot you may wish to weigh up these costs as it may be better financially to get a bus from time to time and scrap the car!

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