The sad day has come when the cost of repairing your car turns out to be more than what your car is actually worth. But how do you go about scrapping your car?
When it comes to scrapping your car, there are exceptions as to when it’s the best idea to go ahead with it. For example, if your vehicle is a rare classic that is appreciating in value, then it won’t be a good idea to send it to the scrapyard or even vehicle recycler. In this blog-post, we’ll be going over everything you need to know about scrapping your car.
How do I scrap my car for cash?
Scrapping your car is a relatively easy process these days. In the past, you often had to pay someone to collect and take your car but luckily, these days, not only you get your scrap car taken away, but you also make some cash which you can use towards your next purchase. Sounds great right? So let’s go through the steps for scrapping your car.
- Step 1 – Do a Google search on ‘scrap car for cash near me’ and you should get a list of companies that will pay cash for your scrap car.
- Step 2 – Go through a few companies before deciding which one to go with. Some companies pay more than others. You will find those companies that come up 1st on Google actually may pay you less than what those might pay that appear on the 3rd page of Google.
- Step 3 – Read through the fine prints and find out what exactly each company offers you. For example, some may take care of all the legal paperwork whereas some don’t. This can leave you with a hefty fine a couple of months down the line. We buy scrap cars for cash in Surrey and London and always take care of all the paperwork so it is a completely hassle-free experience for our clients.
- Step 4 – Prepare your car for collection. Remove all your items from your car and even take your final photos with your car before it is taken away.
- Step 5 – Time to say goodbye. Handover the keys to the scrap car company and complete any necessary paperwork with them.
- Step 6 – Notify the DVLA. If you don’t want to be liable for road tax or perhaps receive a refund on your car tax, then you want to contact the DVLA as soon as possible and let them know that you have scrapped your vehicle.
How much is my car worth?
When thinking about scrapping your car, your first thought will be how much your car is worth? Learning that your car is only good enough for the knacker’s yard is probably going to make you think about how much money you’re loosing. Or perhaps, whether you will be able to draw anything from the car’s scrap value. Unfortunately, there’s no guarantee that you will be able to. The value of your car has more to do with the price of recycled steel, copper and aluminium rather than what it might have been worth in working order. When the rate of these metals descend, some scrap car companies will even charge you to take your car away because it costs more to actually come and collect your car than the value of your car.