When Should I Scrap My Car?
Nowadays, people are becoming more aware of the rising value of scrap metal, so rather than leaving an old vehicle to rust away, they are selling it for scrap. But the question always remains – when should you scrap your car?
When it is no longer road worthy
A roadworthy vehicle is one which has been certified as safe to drive, with components that are all in good condition and that is unlikely to pose a risk to its driver, passengers, or other road users.
A vehicle that has failed its MOT is not considered to be roadworthy and should be repaired in accordance with the advice and guidance listed on its MOT failure certificate or as verbally advised by the mechanic who conducted the MOT, prior to being used again on the public highway.
In some instances, the cost of restoring a vehicle to a roadworthy condition exceeds its value or the cost of replacing the car, and at this point, consideration should be given to selling it for scrap.
When it is damaged beyond economical repair
If a vehicle is involved in an accident in which the cost of repair and providing its driver with a hire vehicle whilst it is off the road exceeds 50% of the vehicle’s value, it is likely that the insurance company will write it off. An insurance company will also write off a vehicle that is no longer roadworthy following an accident.
The insurance company usually pays out the vehicle’s owner for its value less the excess amount, determines the write off category of the vehicle and either scraps it (if it is a Cat A or B) or sells it to an auto salvage company (if it is a Cat S or N).
When its scrap value exceeds its sentimental value
When you no longer drive your vehicle, having either replaced it with a newer model or determined that it is no longer practical, economical or comfortable enough for you, this is a good time to sell it. If the vehicle’s sale value does not warrant the hassle of advertising it, driving it on viewings and negotiating a sale price with would-be buyers, it could be a good time to scrap the car, receiving an easy sale and a guaranteed value based on its weight.
Cars that cannot be scrapped
It is illegal to sell or scrap a car that has outstanding finance because, until the point that the finance is paid off, the vehicle technically belongs to the lender, not the registered owner. Every other car, van or truck can legally be sold for scrap, provided that it is consigned by its owner or with the owner’s permission.