You do not scrap your vehicle every day. That is why, once it becomes time to make the final call to say goodbye to your vehicle, you simply cannot get it wrong. A few years back, you could get a pretty good amount of money by scrapping out your vehicle. That certainly cannot be said today.
A gradual and major slump has been witnessed in the worth of scrap metal as the demand internationally for recycled materials has taken a setback. Still, there is scope for getting the worth of each piece of metal on your vehicle. Numerous factors are involved when it comes to deciding the scrap value of the car.
Companies take advantage of this fact and lure people by offering them high prices and collections that provide them with lower value. If you are someone who keeps surfing the net for scrap my car value, then our blog is perfect for you.
What is the Scrap Value of My Car?
When determining the scrap my car value, there are a few factors that you should be aware of:
The Vehicle’s Weight:
Scrap metal sells by the pound or ton; in case you have a heavier vehicle like a truck or SUV, you pay a higher price.
Location:
The supply and demand of scrap metal varies differently across countries. As the scrap metal may be getting imported from one corner of the world to the other the transportation costs might be added. This is will simply increase the price of the scrap.
Recyclable Parts:
Not all parts of your vehicle might be in good shape. Therefore, if there are pieces that can be recycled or resold, you may find a good enough deal.
Make and Model:
Some cars are built with more valuable materials, such as higher-grade steel or precious metals used in electronic components, which can make them worth more in scrap.
Scrap Metal Prices:
The following metals, which include steel, aluminum, copper, and others, might go either up or down depending on the buyer’s request. This means if scrap metal prices are high, your car will be precious.
How Much is My Car Worth for Scrap?
Check Scrap Metal Prices:
The first thing to do is check the updated prices for all scrap metals, such as the prices of scrap steel and aluminum. For them, their time changes with respect to the rate value.
Estimate Your Car’s Weight:
Find out the curb weight of your vehicle. It may be found in the owner’s guide or on the car manufacturer’s website. Use the weight by the scrap metal price per kilogram and get an estimate.
Additional Worth for Sellable Parts:
Check whether there are functional parts in your car, like an engine, transmission, or catalytic converter, that adds to the overall value. Catalytic converters, in particular, have a lot of worth because they contain precious metals like platinum, palladium, and rhodium.
Get Quotes from Your Local Scrap Yards:
Contact multiple scrap yards in your region. The scrap my car quote given will vary significantly from business to business; comparison is the best option to get a good one.
What Documents Do I Need to Scrap My Car?
If you are searching for information on how to scrap my car, you need to familiarize yourself with the necessary documents. Here is a list of it:
V5C (Vehicle Registration Document)
A vehicle registration document, also known as a V5C, is a logbook that is most important when scrapping your car. It confirms who is responsible for the vehicle and also prevents the unauthorised sale of the vehicle.
Log Book
The logbook and V5C are basically unofficial terms used interchangeably. If anybody asks you for a logbook or V5C document, they both simply mean the same. The logbook is red, so make sure to have it handy when trying to sell the car.
V5C/3
This is a yellow slip from your vehicle registration document. While searching for the important documents for scrap my car this might come as the second most important one. It is used to inform DVLA that you are no longer the car’s owner. It is important to send this slip to DVLA right away, as you might be held responsible if their system still recognizes you as the owner of the car.
Once you have given the car for scrapping, make sure to get a receipt authorized by ATF (Authorised Treatment Facility). This will provide another layer of proof that you have sold your car.
Proof of Address and Personal Identification
While scrapping your car, it is imperative to provide proof of address, like a license or passport. This ensures that your scrapped car falls under the laws of the Scrap Metal Dealers Act 2013. These laws are used to ensure that the car was not stolen and also ensure a smooth completion of the process.
CoD (Certificate of Destruction)
After the vehicle is given to ATF, they will issue a Certificate of Destruction (CoD). This certificate provides proof that your car has been recycled. The V5C/3 will be exchanged for a CoD, meaning it needs to be sent to the DVLA as well. This clears you of any responsibility related to the scrappage. You will also receive any unused road tax back on your Cod if it reaches the DVLA.
Conclusion
Scrap my car is actually a procedure that has several stages. With this proper understanding of the process, one can exploit it better. An important variable of how much you will get out of your scrapped vehicle is its weight, scrap metal prices prevailing today, and the values to be recovered on reusable parts.
The documentation — V5C, proof of identity, and Certificate of Destruction (CoD) — ensures that the car scrappage will not become a legal mess. This way, by putting in place such guidelines, you will be able to scrap your car confidently and gain the best money for it while fulfilling all the legal obligations.
Originally published in Medium.
