Scrapping your car for cash might be an option if it becomes too expensive to keep it road-worthy.
Your old banger has finally given up the ghost. It's time for a trip to that great car park in the sky – the scrapyard. But how are you supposed to scrap your car? The process is simple, but there are a few guidelines you need to follow first.
How do I scrap my car for cash?
Scrapping your car is relatively easy. In the past, you often had to pay to have your car taken off your hands.
But guidelines put in place to avoid abandoned cars means that getting shot of your old banger should be free. And because of the increase in scrap metal values, you should be able to get some money for your car.
This needs to take place at a scrapyard, or Authorised Treatment Facility (ATF) that's licensed by the Environment Agency. It’s illegal to take your car anywhere else, so make sure they’re licensed.
Remember, you need to tell the DVLA if you've scrapped your car. If not, you could be fined £1,000.
What paperwork will I need to scrap my car?
It’s vital to have the right paperwork before you scrap your car. You’ll need:
The vehicle logbook (V5C) – you can’t scrap your car without this, as it proves the car belongs to you, and stops any unauthorised sales. Make sure you keep the yellow slip from it (V5C/3) and ensure you get a receipt from the ATF.
A Certificate of Destruction (CoD) should then be posted or emailed to you within a week. This is a DVLA certificate that proves you’ve had the car recycled, and absolves you of any future responsibility for it.
How much will I get for selling my car for scrap?
As well as the scrap value, there are a couple more options when it comes to getting cash for your car when it’s given up the ghost.
Selling car parts
Some drivers prefer to sell off the most valuable car parts individually, and then negotiate a price with the scrapyard for the remainder. This might make more money overall.
However, you should only attempt this if you know your way around a motor, as you’re unlikely to get a better price than scrapping the whole vehicle.
Online car scrap valuations near you
The easiest option for scrapping your car is to use a site like CarTakeBack.com or ScrapCarNetwork, which offer you quotes based on the best price from local scrapyards.The price offered by sites are based on of the car being:
Also make sure that the tyres are fully inflated and the keys are available.
Refund on insurance
Once your car’s been scrapped and you have the CoD, ring up your insurer and cancel your car insurance policy. You might be able to get a refund on any unused cover.
You can also get a full refund on any unused months’ tax.
The charitable option
Charitable organisations such as Charity Car and Give A Car can help you to scrap your car. They’ll collect your vehicle, complete the necessary paperwork, and donate the cash you would’ve received to a charity of your choice.
"It's a really easy way to give to charity," says Give A Car founder Tom Chance.
“We work with over 400 charities – from major ones such as Cancer Research UK to smaller and regional ones – so you'll be sure to find a cause that's close to your heart.”