Your vehicle has reached the end of its useful life and you want to get rid of it as soon as possible. Now, you find yourself wondering “Should I trade in my car or just scrap it?”
Deciding what your next move is can be difficult since there are so many options. You could choose to trade in your vehicle for a new one, sell privately or sell the metal parts.
The answer is entirely dependent on your preferences and your needs.
Deciding on the Next Move
Before you decide, you must understand what each option entails, and which one is the best for your unique situation.
We will now discuss the options available to you:
If you are not in a hurry or in need of the fastest cash outcome, you might want to consider this option.
Selling your car privately takes a little more time than the other options.
If you have a unique vehicle such as a vintage car, with rare features or low mileage, there is a chance you could sell it to a potential buyer for a handsome price.
But, if your vehicle is just an ordinary car that can easily be found, with some damage here and there, you may be better off choosing another way to get rid of it.
Selling Some Parts
Selling the spare parts or usable hardware of your car can make some decent money.
There are some parts you can strip, including mirrors, the radio, headlights, steering wheel, tyres with mag wheels or the consoles.
If you want, you can even strip the ‘harder’ parts, such as automatic windows or containers.
You can take almost anything off your car, take good photos, and sell the parts on eBay.
It sounds a little odd but, surprisingly, many people are open to the idea of buying used car parts online.
Buying parts from eBay is significantly cheaper than getting parts from dealers.
If you choose this method, expect the slowly disintegrating car to be sat in your garage for several months, if not longer.
Trading in Your Car
Car dealerships accept most kinds of cars on trade, even if they are considered junk.
Trading is the most popular option for getting rid of an old car. This option might be a little overwhelming, but it is a great way to get another car of similar value.
The value of an old car that is traded in is often lower than selling privately but if you have already decided that you want a new or used car in a car dealership, this just allows for a simplified process.
When trading in your car, you should be more concerned about the value of your vehicle at the time of trading.
Even if your car has minor damage and issues, its value will be relatively low. This is because they will sell your trade-in and want to turn a reasonable profit.
Most notably, you will have to know the reliable dealerships in and around your area to ensure you are not getting ripped off.
Scrap Your Car
If your car has significant damage and you just wanted to towed away as soon as possible, scrapping your car is a great idea.
For many, scrapping cars is not a familiar concept. Essentially you are sending your car to be stripped down into smaller parts and recycled.
The scrap value will depend on the age, model, and condition of the car. If you have stripped the expensive parts form the car, it will of course dramatically reduce the scrap value.
At the same time, scrapping the car can be beneficial.
It is Environmentally Friendly
You would be doing a huge service to the environment by choosing to scrap your car. The components of your car can be recycled or reused, which consumes less energy than producing metal from scratch.
It is Safer
As you may know, cars contain hazardous materials and toxic substances. It is important to dispose of them properly, which a professional scrapping company would be obligated to do.
It is Quicker
Scrap dealers will typically come to collect your car within a day or two and pay you quickly.
Will You Sell, Trade-In or Scrap?
The choice of whether to privately sell, trade-in or scrap your car largely depends on your car, goals, and your needs.
- If your car is not working and you need some quick cash, scrapping your car is the most efficient way to go.
- If you can drive your car you may choose to trade-in for a vehicle you find in a dealership to save on the overall cost.
- If you have time on your hands and you see more value in your vehicle, then go for a private sale.