If your car is damaged beyond repair, or if fixing your old car is costing you more than what you are getting in return, then it might be the time to say goodbye to your old friend! You can sell such a car to a scrapyard and still get some money in return.
If you are searching on the internet “how to scrap my car for cash today”, then you have come to the right place. This article covers everything you need to know abuout selling your car for scrap.
How to scrap my car for cash today?
The process of selling your car for scrap is simple. You need to find a trustworthy buyer, and discuss details related to the whole scrapping process. You will get your payment soon after the buyer has collected your car.
Your car will be collected and taken to a legally permitted recycling centre. After accepting your vehicle for scrap, they will provide you with a Certificate of Destruction (CoD). You can use it as proof that the car that you once owned is no longer in use.
It is then important to notify the Driver and Vehicle Licensing Agency (DVLA) that you have sold your car for scrap. You could be fined for not telling the DVLA, so make sure you do this.
How much will I get if I scrap my car for cash today?
The quote you get from a buyer will depend on several factors like the current rate of metal, your car’s condition, and how far your location is from the scrapyard. If you are searching for ‘ways to scrap my car for cash today’, then below are the common methods that people use for disposing of their scrap cars.
Sell off valuable car parts
If you have recently replaced a valuable car part, then you can remove it from your scrap car and sell it in the spare parts market to earn a greater return. You can remove all parts you think are in good condition, then sell them at a good price. But keep in mind, removing car parts will reduce the value of your scrap car. It is worth noting that a scrapyard may not offer you any amount for a car that has its most valuable parts missing.
Get a refund on unused cover
After selling your car for scrap, and getting your CoD, call your vehicle insurance provider. Tell them you are not using the car anymore, and cancel the insurance policy. You may get a refund on the cover that you did not use. Beware of admin fees for cancelling the policy, so try and minimise these fees as much as possible.
Sell to a buyer who offers a fair amount
Do your homework properly before selling your car for scrap. You will find many different potential buyers for your car. Contact different buyers, then select the one who offers the best quote.
Sell to charitable organisations
Another method of selling your car for scrap is by selling it to a charitable organisation. These organisations handle the whole process on their own. They will get the car, handle the paperwork, and donate the amount received from a scrapyard to a charity.
Tips for selling your car for scrap
Below are expert tips on how to scrap my car for cash today.
Compare quotes from different buyers
Try not to sell your car to the first buyer you find in the market. Call four to five buyers and discuss the process in detail. Ask them about the quote, then choose the buyer who offers you the best quote for your car.
Choose legally permitted centres
It is illegal in the UK to recycle or scrap your car at a centre that is not legally permitted to handle the scrapping process. Therefore, take your car to an Authorized Treatment Facility. Only legally permitted centres can provide you with a Certificate for Destruction (CoD).
SORN your car
If you want to remove parts of your car, do not forget to inform the DVLA that you are taking your car off the road. Make a SORN (Statutory Off Road Notification), so that you can get a refund of car tax that you are not using.
Notify the DVLA after selling your car for scrap
Notifying the DVLA is very important to save yourself from any trouble in the future. For this, you will have to fill out a section of your V5C (car’s logbook). After filling that section, send it to the DVLA. You will receive a response letter from them in less than four weeks. This letter will tell you that they have changed the status of your car as per your request.
Accept a legal payment method
Accepting cheques and bank transfers are the legal methods of receiving payment for your scrap car. According to the Scrap Metal Dealers Act 2013, no dealer can pay you in cash. It is illegal in the UK to be paid in cash for a scrapped car. This act was issued to prevent metal theft. Therefore, if a dealer tries to make payment in cash, consider it a red flag and do not contact them again about scrapping your car.
Avoid hidden fees
Sometimes, dealers or agencies offer you a very good amount for your scrap car, and then, in the end, they deduct the hidden fee that they never discussed with you during the whole process. Therefore, discuss everything in detail with the dealer, so that you do not end up paying any hidden fees. Mostly, it is the car collection fee that they cut from the final payment.
No need to pay for the V5C replacement
You need a V5C (logbook) to scrap your car. If you have have lost the V5C, then do not worry about paying for its replacement. Instead, provide the necessary information to the DVLA, like the date you sold your car, details of the dealer, and the registration number of your car.
Selling your car for scrap is a good choice to get money for something that is of no use to you. You can also separate its valuable parts to either reuse them or sell them in the spare part markets, but we wary of doing so, in case it negatively affects the price you are offered at the scrap yard. Contact different dealers to find the worth of your car, then select the dealer who pays you the best amount.