If your car is on its way out and you’re looking for an upgrade, you need to decide what to do with it. The obvious answer is to sell it and make a bit of cash or part-exchange it and put it towards your new car. But what about scrapping it?
People assume that scrapping is the worst option because you’re not going to get as much money but, in some cases, it is the best thing to do. But how can you tell whether scrapping the car is a good idea or not?
It’s Not Worth Anything
The first reason you might want to scrap your car is if there’s no market for it. If your car is fairly modern, people will be interested in buying it for a decent price. But if it’s decades old and very inefficient, it might not be worth a dealer’s time to look at it.
If you’re going to have trouble selling your car, then there is no point in trying to sell it – just scrap it and move on. You can use the money from scrapping as a deposit for a new car! So, before you go through the whole process of selling the car, get a dealer like edmunds to value it and see what it’s worth. You might find that it’s worth something and the dealer is willing to buy it from you but you might find out that it’s worth next to nothing, so you might as well scrap it.
The Repairs Are More Expensive Than The Car
If your car is on its way out and it’s going to cost a lot of money to get it back into working order, then scrapping might be the best option for you. You can’t drive the car because it constantly breaks down so you might as well cut your losses and take whatever money you can out of it. If you need to repair it before selling and that’s going to be more expensive than the value of the car, you’re just throwing money away. Something simple like a broken bumper or a few dents is fine, but if there are major issues, it might be more cost-effective to scrap it.
You Want To Get Rid Of It Quickly
If you want to get rid of your car as soon as possible, you might not have the time or energy for a sale. There are a lot of steps involved with selling a car, as you have to advertise the car, arrange a date for potential buyers to inspect it, and negotiate a price. If you want to sell your car quickly, then scrap it. You’ll get money from the scrap metal company straight away and there’s no need to deal with people coming around looking at your car – just tell them how much you’re getting for it and they can take it from there.
If you can get a decent amount of money for your car, you should try to sell it. However, there are a lot of situations where scrapping it is the best option.