Do you have an old car sitting around your property that would be suitable for scrap? Are you finding it overwhelming to scrap a car for cash?
Taking the vehicle to the junkyard may help contribute to a cleaner environment. Research shows that car recycling saves about 85 million barrels of oil, which may be used in making new parts.
With multiple options for scrapping junk cars available, it may be challenging for you to scrap your old car properly. The goal here is to prevent the health and safety concerns old vehicles bring and get the most cash out of the sale. Here are six practical tips on how to scrap a car:
Remove Your Personal Belongings
Take out all personal belongings from the junk car before having it towed to a junkyard. Thoroughly inspect the door pockets, centre console, overhead console, and glove compartment for these items. You should also check all storage areas and the trunk/cargo area.
Sweep through the seats and floor mats for any personal items. Remove all CDs from the CD player if there are any. You should also remove and shred old personal documents such as credit card receipts, auto insurance cards, and registration documents.
Carefully remove the license plate from the vehicle before the tow vehicle comes to pick it up. Remember to cancel your license plate registration status and notify the Driver and Vehicle Licencing Agency about the cancellation. Removing the license plate is vital when looking to transfer the vehicle’s ownership for cash.
Cancel Your Auto Insurance Policy
Notify your car insurer about your intention to cancel the policy to avoid paying further premiums. You may also ask for a refund if you have already paid an advance for several months. Inform the insurer that the car will have a new owner.
Find out from the insurance company whether you need to notify them about the cancellation. Most car insurance policies in the UK have a cooling-off period. The period, which takes 21 days, allows you to cancel your vehicle insurance and get your money back.
Most insurers don’t require you to pay a fee for the cancellation. It’s also possible to transfer the policy to your new car if you intend on buying another one. Your insurer will send you a notification via post or email about the cancellation once it is finalized.
Get the Car’s Paperwork Ready
Prepare all relevant information about your vehicle before you consider scrapping it for cash. The information should include the car’s condition (and problem areas), identification number, year/make or model, and current mileage. Have the vehicle inspected to determine whether it is in running or towable condition.
You should disclose information about your car’s servicing history. That’s because the junkyard will want to know whether they’ll earn profits from selling various parts of the vehicle. Have the receipts and inspection reports with you as you approach a potential junkyard dealer.
Take appealing pictures of the car and have them with you when looking for a buyer. The photos should capture the vehicle’s interior and exterior while focusing on the essential parts. They will let potential buyers know precisely what to expect.
Find out Your Car’s Worth
On average, automobiles contain more than 30,000 parts, which can be recycled. Auto manufacturers pay good money for these parts, depending on their state.
You should value your vehicle depending on its weight and size. If most of its parts are made of heavy steel or iron, it may fetch good cash. The car’s condition will also affect its selling price.
Find out the metal content of your car to have a rough estimate of the amount of cash it may fetch in the scrap metal market. These metals may be used to make new car parts. Note that the scrap metal prices tend to fluctuate daily.
Your vehicle may attract good cash if it is a popular model that car buyers continue to seek. That’s because there’s a high demand for the interior parts, body parts, and mechanical parts of popular car models. You’ll also sell it at a high price if it is a luxury brand depending on the demand for its parts
Pick the Best Place to Sell the Junk Vehicle
Most people turn to junkyards when looking for where to scrap a car for cash. Find out more about the junkyard before deciding to sell your car. Choose a dealer that is based in an easily accessible location for towing convenience.
Approach several dealers and get quotes from each of them. Compare each of their estimates and pick one that will give you the best money deal. Be willing to send them photos of the scrap car for them to determine its worth.
Negotiate for a better price using the key selling points of the vehicle. Only deal with licensed junkyards to avoid falling victim to scammers. Confirm whether the car recycler meets UK’s Scrap Metal Dealer requirements.
Keep Other Options in Mind
You may explore other options besides taking the car to an auto recycler. Philanthropic options to consider include donating it to charity or handing it over to an art project. You may also donate it to a local playground or give it to a local art project.
Giving the car to a local engineering school may also be a good idea. Either way, approach the organization of your choice and inform them about your intention to donate the vehicle.
You may also qualify for a tax deduction after donating the car. The HM Revenue and Customs only makes this exemption if you keep records of your donations.
Looking to Scrap a Car for Cash?
With the tips discussed above, you can now scrap a car for cash at ease and get the most value from the transaction. Always verify the credentials of the auto recycler or organization you are transacting with to avoid mishaps.
We can also offer you good cash for your old car depending on its condition and profitability. Reach out to us for a quick estimate on the value your car can fetch.