What you can do with your old car
There are several ways through which you can get your old car out of your hair. You could sell it, give it away or you could scrap it. But which one is the right option for you? Well, let’s look into what each entails and their pros and cons.
This should be your first thought if your car is still functioning. You can either trade it in for a new car or you can sell it privately.
Selling it to a car dealer is the simplest way to get rid of your old car. However you will not receive the best suitable price for your car.
Whichever method you choose to go for, it is essential that you know the market value of your car. Research the selling price of the car online by looking at cars that are a similar model and condition as yours. This is important in car price negotiations and determination.
If you are selling the car privately, make sure you perform the recommended maintenance. Take good, detailed photographs, make a clear and concise description of the car and select a price that is 10% above your asking price. Then you can advertise it online in car selling websites or other media such as newspapers and social media ads. You also auction it, but there is no guarantee the car will be sold at its asking price.
Give it away
Whether the car is in good shape or not, you could give it away to charity. The charity will either auction it or scrap it. Either way you will get the satisfaction that the money is going towards a good cause.
Scrapping should be treated as the last resort of disposing your old car. Unless your car is damaged beyond repair, it may still be worth something. If you want to go this route, it is safer for you to use a car scrap dealer that is linked to your car’s manufacturer. This is because there are many car scrap dealers but not all are legal. All legal car scrap yards have a certificate from Environment Agency or (Scottish Environment Protection Agency) for the purposes of ensuring that any scrapped vehicle doesn’t bring any harm to the environment and that their recycling is done in the appropriate manner.
After identifying a legal car scrap dealer, the next thing to do is bring out your V5 document (that shows ownership of your car), adhere to every single instruction and eventually forward the relevant part to Driver and Vehicle Licencing Agency (DVLA). The agency would then confirm that you are indeed no longer the owner of the car or responsible for it in any manner. Once this is done, the onus is on the scrap dealer to forward you a “Certificate of destruction” and also inform DVLA that you are not the owner of the car anymore!
Keep in mind that scrap car prices vary depending on the model of car, the region it’s collected in, whether it has any re-saleable parts and current market rates.
You should also be wary of any car scrap dealer that tells you they will pay you in cash. Car scrap dealer regulations require that they either issue a cheque or deposit the amount in your bank account.