If your vehicle has been written off following an accident, or has failed its MOT and is too expensive to fix, car scrapping is a great way to recoup some of your original investment while also benefiting the environment.
Environmental Legislation
Under the 2005 EU End of Life Directive, governments now impose a recycling target of 85 per cent for scrapped cars, which must take place at a scrapyard or Authorised Treatment Facility (ATF).
This new legislation was put in place to ensure the amount of waste produced from vehicle recycling is reduced and controlled.
As many as two million cars reach their end of life in the UK every year and are regarded as hazardous waste until they have been dismantled to remove and store potential toxins from things like fuel, oils and brake fluids.
Growing Scrap Market
Once the cars have been dismantled, their working parts are cleaned and then resold, reducing the waste associated with making brand new parts to serve the spare parts industry.
With increases in scrap metal values and a profitable market for used car parts, this provides a perfect opportunity to realise the value of your used car and put it towards the cost of a new one.
Online Scrap Valuations
Valuing your car is really easy via firms like ASM Autos, simply fill in your registration and contact details and they will get in touch with a quote. Being such a competitive market, scrap firms will normally give you a very competitive value which can save you the time of scouring the market yourself.
Selling Parts Separately
However, you also have the option of dismantling the car yourself and selling off your most profitable parts, like the tyres and battery, separately, which can give you a higher value.
However, this requires a good level of motoring knowledge; unless you are confident in identifying the right parts and know their true value, it is not worth risking devaluing the vehicle, which will no longer be in one piece.
If you are feeling charitable, there are also organisations like Charity Car that will take your used car off your hands and donate any proceeds to a charity of your choice.
Paperwork
When you scrap your vehicle it is vital that you have all your paperwork handy and up-to-date.
When you hand over your car to the scrap and recycling firm you will present your V5 registration document (this is replaceable in the event that it is lost, stolen, damaged or destroyed).
In exchange you will receive a Certificate of Destruction (CoD), which will be posted or emailed to you within seven days; this proves you’ve had the car recycled through the correct channels and finalises your legal responsibility for it.