It is usually a sad time when it comes to the point when your vehicle needs scrapping. Most of us hold some form of sentimental value towards our vehicles as they are our trusted companions that get us where we need to be. That being said, every vehicle has a shelf life and it may be coming towards the expiry date of yours.
However, it’s not all doom and gloom. Often, we believe that we will have to pay to have a car scrapped, but that’s not the case. In fact, you will actually receive money from the dealer for scrapping your vehicle, it shouldn’t cost you a penny. So, although you may be losing your car, you’ll still be receiving some money to put towards a possible new one.
Check online for a valuation
One of the first things you can do if you have decided to scrap your vehicle is to check online valuations to see where you can get the best price. There are several websites online that will offer you an instant quote if you input the make, model and number plate of your vehicle. With this information, you can shop around and see who is willing to give you the best price.
You need to be aware that there are several factors that determine the price that you are offered. Firstly, it is important to choose a scrap yard within close proximity of your vehicle. This is because they may take a chunk off the price they offer you if they have to travel far to collect the vehicle, so keep it local.
Another thing to consider is timing. The scrap metal markets are renowned for constantly fluctuating and therefore you may have to be patient. The price of scrap metal is based on how in-demand it is at the time. If you find you are receiving lower-than-average valuations then it could be a good idea to hold onto your car until the market is better.
Keep your vehicle in one piece
One factor that largely determines the price you receive for scrapping your car is the weight. Ultimately the heavier the car is, the more scrap metal there will be to sell on and the more money you will receive.
Some people often choose to take the expensive parts of the vehicle off first (such as the engine, catalytic converter and wheels) before scrapping it. As these parts can be reused, they can be sold for a higher price, meaning you could end up with more money.
However, this isn’t for the faint-hearted and almost certainly should be left to the experts. Although it might seem like a good idea at first, if you aren’t used to working with cars this can be an extremely big job and could end up costing you more. Therefore, it is advised that you take the whole vehicle to be scrapped. That way there is less hassle and you will get a higher price as the vehicle is heavier with its parts intact.
Ensure you use an ATF
This is by far the most important part of the process, ensuring that you are scrapping your vehicle in a legal manner. An ATF, or Authorised Treatment Facility are government-approved dealers that are allowed to scrap vehicles. This means that they scrap the vehicle in an environmentally friendly way that complies with EU laws.
Additionally, when you choose an ATF they will only offer payment through cheque or bank transfer, taking cash for the vehicle is not allowed. And with this, they will also provide you with a Certificate of Destruction which is a legal requirement when you have a vehicle scrapped.
Be wary of illegitimate dealers
On the other hand, you need to be wary of dealers who aren’t legally allowed to scrap your vehicle. One of the biggest tell-tale signs of an illegal dealer is that they offer you a cash payment for your car. This is now not allowed as it means the payment cannot be tracked if necessary.
Likewise, a dealer must supply you with a Certificate of Destruction, but they may try and give you a fake one with a different name, be wary that it is specifically a Certificate of Destruction that they offer you.
How to get the best price for scrapping your car
Ultimately it’s important to do your research and try to consider the savings you can make when looking to scrap your car. It might not mean that you’ll lose out because you’ve got to take your car to be scrapped after all.
Let me know in the comments if you’ve got any experience of scrapping your car. How did you go about getting the best deal for your vehicle? If you’d like more tips and tricks on saving money and thrifting then be sure to check out some of my other posts to help you take care of those pennies.
This is a collaborative post.