If you find yourself stuck with an old, dead or damaged vehicle sitting in your driveway, you may wonder what is the best way to get rid of it and whether you can still get a good price.
If a private sale or part exchange is not a possibility due to the poor condition of your vehicle, there are still plenty of other solutions to consider…
There are plenty of online vehicle purchasing companies who will buy vehicles from the public in pretty much any condition, such as CarConverter.
With these sites, you can enter your car registration and mileage details online for free and you’ll be given an immediate suggested price. It is worth noting however, that any price quoted may be altered once the vehicle is physically inspected.
The price you are likely to receive using this method is going to be significantly less than what you may get from a private sale, but the advantages are that you can sell the vehicle immediately, so great if you need a quick and guaranteed sale.
Of course, there is also the option to auction the vehicle yourself online using sites such as Ebay. Internet auctions are a fantastic way to reach a huge worldwide audience and although there is normally a seller fee, there are often special offers available with reduced or zero fees (terms and conditions will apply).
You will need to dedicate the time to taking and uploading good quality photos and include as much detail as possible in the description to increase your chance of a sale, so this can be fairly time consuming. You will also need to trust that the buyer will actually pay for the vehicle, because if they don’t you will have the hassle and potential cost of re-listing the vehicle.
If the vehicle is beyond repair and you cannot find anyone willing to buy it, you could consider having it scrapped. Legal documentation is required for this process, so it can be time consuming.
When a car is scrapped the Driver and Vehicle Licensing Agency (DVLA) needs to be notified using a Certificate of Destruction (CoD). These can only be issued by scrap car recycling centres, called Authorised Treatment Facilities (ATFs). If this process is not followed, then you will still be responsible for the vehicle and could receive a fine. Therefore, you will need to ensure that you take your vehicle to an ATF to be scrapped, and you will then be sent the CoD.
You can search for your nearest Authorised Treatment Facilities at https://www.gov.uk/find-vehicle-scrapyard
Scrapping is a good solution for getting rid of a badly damaged vehicle and still making some money. It also ensures that the vehicle is properly recycled without damaging the environment. However, it is worth being aware that scrap car prices fluctuate depending on many factors including make and model, geographical location and the current market value for scrap.
Some older vehicles could be considered classics and are therefore often highly collectible.
You might be surprised to find out which vehicles are considered classics these days. There are no set criteria when it comes to classic cars and everyone seems to have their own definition of what constitutes a classic. Many describe a classic as a car that is 40 years or older, but some companies will define a classic as anything over 15 years old that has technical or nostalgic merit.
If you have the time and the patience you could advertise to an audience of enthusiasts who may be interested in your type of vehicle, including publications such as Classic Car Weekly or on online owners’ forums, which often have a ‘for sale’ section.
The rewards for this could be substantial, as the value of a classic is basically as much as a serious collector is willing to pay for it!
And finally, if you’re feeling generous, there are organisations that will take your old vehicle and donate the money to charity, such as giveacar.co.uk and charitycar.co.uk. Normally the collection of your vehicle will be free and you will be able to choose the charity you wish to donate to.
Some organisations will arrange for the vehicle to be scrapped and recycled, and others may sell it at auction, which may incur a small fee that is deducted from the final sale price. It is also worth noting that with scrap prices currently low in the UK, the amount raised for your vehicle is likely to be nominal.
But it’s another great solution for you if you want to get rid of a problem vehicle and raise money for a good cause at the same time.
We hope you’ve found these suggestions useful, and with lots of options to choose from, hopefully you’ll soon have created a space on your driveway for a new car!
Collinson, P. (2014). Do’s and don’ts of getting rid of your old car. Available: https://www.theguardian.com/money/2014/feb/14/getting-rid-old-car-scrap. Last accessed 27/02/2018.
Harrison, L. (2015). Don’t pay to get your banger taken away…you can get paid instead…or it could even be a modern classic in the making. Available: http://www.thisismoney.co.uk/money/cars/article-2961789/How-make-money-scrapping-selling-old-car.html. Last accessed 27/02/2018.
Sourced from https://www.copart.co.uk. (2018). Classic Cars in Need of a Little Love. Available: https://www.copart.co.uk/Content/UK/EN/Member-News/Classic-Cars-at-Auction. Last accessed 27/02/2018.
Sourced from https://www.moneyadviceservice.org.uk. (n.d.). How to dispose of an old car. Available: https://www.moneyadviceservice.org.uk/en/articles/how-to-dispose-of-an-old-car. Last accessed 27/02/2018.
Categories: Auto Tips