What Influences Scrap Car Prices?
When a car reaches the end of its life it will be scrapped, while this is not a particularly common occurrence sometimes the responsibility will land with you. Obviously, you want to get some money back for the car but might be unsure of what influences scrap car prices. Here is a quick rundown to help you out.
Location, Location, Location
The first basic rule is to find a registered scrapyard near to home; the chances are you are scrapping a car because it is a non-runner and therefore you will need it collecting by the dealer. The further they have to travel, the less they are going to end up paying you as they will take their transport costs into consideration with the price they gave.
Don’t Break it
There is a temptation to break a car before you scrap it and remove elements of value to try and sell separately. However, this can be a false economy once you take into account the time and effort required to remove parts, and the knock-on effect this will have on the scrap value. Dealers prefer vehicles to be fully intact as it makes them easier to value. Also, if you start removing parts connected to things like the fuel line all the steering fluid you will then have to pay to dispose of the toxic waste.
Think About the Timing
As the month draws to a close people realise they are slightly short of cash before payday and may scrabble to scrap a vehicle, which means that dealers will be fully booked. This gives them the liberty to drop their prices slightly and offer people less because they are desperate. If you can wait until the first or second week of the month, you will probably get a better price because they are not so busy.
Watch for the Tricks of the Trade
The reason we suggest that only working with a government-approved dealer, known as authorised treatment facilities, is because you can be conned by unscrupulous scrapyards if you are not careful. Do not fall for the idea that the vehicle is worth nothing and someone will do you a favour by taking it off your hands for free. Scrap metal does have value, although it may not be much you are better off getting it. Dodgy dealers will try and reclaim £25 if you do not have the logbook, by attempting to convince you that they will have to reapply for it before they can scrap the car. This is not true; however, you must make sure you write DVLA and let them know you have scrapped the car.
Get a Guaranteed Price Before Signing
Again it shouldn’t happen with an authorised treatment facility; however, to be safe, you want to get a final price agreed in writing before you sign the car over. Sadly, dubious dealers have been known to turn up and collect the car and suddenly start haggling over the price or intimidating you on the doorstep.
