Are you planning to scrap a car for the first time? Unsure about where to begin? If so, fear not, for this article was written for first time car owners such as yourself. In this article we shall cover the administrative process involved in preparing to scrap your car as well as the factors involved in calculating the value of your car.
A Relatively Hassle-Free Process
To start, we would like to reassure you that the car scrapping process for vehicle owners is relatively hassle free. This is especially so when you choose to work with a good scrap car dealer. Any credible car dealer worth his salt will be able to offer you a fair evaluation of your car while also taking care of all administrative processes. This leaves you to only show up with your identification and be prepared to sign documents that specify the transfer of ownership of your car to the dealer.
When you start you process, you should spend time to research on what to look out for in a car scrap dealer. Once you are comfortable, get in touch with several different dealers in order to attain a range of quotes. This will give you an idea of the average price that the local dealers value your car at. When you make contact with a dealer, they are likely to ask you about your car’s model, color, condition and mileage on the vehicle. All of these details are essential in calculating the value of your car, which we will cover next.
Calculating the Value of Your Car
How much will i get if i scrap my car?
As alluded to before, the value of your car can vary depending on several different factors. These stretch beyond that of a dealer’s preference or business acumen.
Firstly, the amount of mileage on your vehicle, its condition, existing wear and tear as well as the number of years in operation will affect your car’s value. Equivalent to that of applied depreciation to an asset over time, a dealer will subtract the cost of wear & tear from your car’s original price in order to determine its value.
Secondly, a dealer will also take into account the market supply and demand for a given model. In any given year, certain car models will be in bigger demand than others. As such, you will naturally get better offers for these models. Conversely, if your model is in over supply for the year, then car dealers will offer less for it.
Working with The Agent to Scrap Your Car
Once you have chosen your dealer, allow them to take care of all administrative processes. Depending on the services provided you may or may not have to bring the car down to the scrapyard yourself. On the chosen day for scrapping your car, you will be required to go down to their office to complete some paperwork and formalities. With that, you would have successfully completed the transaction.