When your car starts costing you more for repairs than it’s worth, you may face the prospect of scrapping it. It is not easy and you may be sad to see it go but it is a practical option. Scrapping is a straightforward procedure that does involve certain laws and regulations.
Scrapping your car is a last resort. There is no guarantee that you will make a lot of money from it either. This is because the value of your scrapped car is directly affected by the global prices of commodities like recycled steel. It may seem harsh, but in the UK alone, more than 2 million cars are scrapped every year. You can now imagine how this saturation of recycled products can saturate the market, especially when the global economy is struggling. But scrapping is better than having your old car rusting away or simply dumping it. There are ways to make some good money out of it too.
Some of the many ways to scrap your car are briefly explained here:
Check Online: The internet is an immense knowledge base and information regarding the scrapping process and scrap yards is available aplenty. You can learn about the scrapping procedures and regulations with a little reading. All car manufacturers mandated by the EU provide proper guidelines to the people who are willing to scrap their vehicles The Brexit in extremely unlikely to affect this. The automobile manufacturers ensure that their vehicles are properly recycled and laws are not ignored in the process.
Choose the Right Place: Most of the components of your car can be reused in some way. However, not all the scrap yards and or even garages have the technology or resources to extract reusable parts from your car. The EU legislation requires that the 95% of the scrapped cars must be reused or recycled. This means that it is important to choose the right facility for the job. Authorized treatment facilities (ATFs) are the only ones which are legally permitted to dispose of cars. They are well-informed and equipped to deal with substances like the various oils, batteries, and other hazardous materials. ATFs are the only places which have a certificate of destruction (CoD) and disposing your car at any other location is a criminal offense.
Notify the DVLA: Be sure to inform the DVLA before scrapping your car so that you would not be liable for paying any road tax after you have passed the vehicle on. The V5C document has a section that needs to be completed and exchanged for the CoD that needs to be sent to the DVLA. In such condition, DVLA will refund any unused road tax and you may receive a financial return from your insurers.
Beware of Profiteers and Incompetent Traders: You may find several websites that look good and seem legitimate but not all of them are genuine. CoDs can be misrepresented as ‘destruction certificates’ or ‘certificate of collection.’ Some of them may offer you generous compensations that seem too good to be true. Some may even claim to offer ‘genuine advice’ that generally ends up in giving away your car for free. It is always better to check for the authenticity of the website and the trader and also their reputation in the market.
About the Company:
We Buy Motors strives to be the one of the UK’s top car purchasing companies. The company was launched back in 2010 and has dealt with more than 40,000 customers. It was founded in the heart of London and is the UK’s first car purchasing company offering its services all over the UK with free collection of your car.