News from Silverlake Autoparts

How to Increase the Value of Your Scrap Car

Posted on Categories Scrap
How to Increase Your Scrap Car Value

Need to chuck out an old car before it loses its value?

The average lifespan of a car on the road in the UK is 7.7 years. Even with constant care, sometimes your old vehicle kicks the bucket beyond repair.

No matter what reason, you need to consider your options from this point on. The best option is to scrap your car since you get money if your car won’t start anymore.

If you need to increase your scrap car value, you need to follow these helpful tips.

Research Early in the Month

At Silverlake, the price we offer our customers is based on the current scrap metal value. This figure is set by the industry we operate in. We do not have any impact on this figure. Therefore, changes to our scrap car quotes only occurs if the the scrap metal value changes, or if we deem on a case by case basis that a scrapped car is worth more than just it’s scrap weight. However, it is common practice for other scrap car dealers to offer reduced prices towards the end of the month. Dealers do it as a means of managing the workload. Most dealers become fully booked or close to it at the end of the month.

To avoid over-committing to customers, they opt to lower offers to become less competitive. Doing your research as the month starts means you get a guaranteed quote when prices are most competitive. This allows you to have more scrap car value.

You can book your car in for collection in a few weeks’ time if you don’t mind the wait. It helps you avoid getting disappointing price offers.

Avoid Removing Any Parts

If you want the best scrap car value, don’t remove any remaining parts.

Most scrap car companies get turned off when they see missing parts. It’s difficult for them to collect your car when you remove parts like the wheels.

The more parts you leave intact, the higher its scrap car value is. For example, removing your engine can reduce the car’s price by 67%. Some companies even avoid picking up cars that don’t have wheels.

Sell Your Scrap Car Via Auction

The best place to look for buyers is the internet.

We can auction your vehicle if you want to get a great value for your scrap car. Our online salvage auctions feature thousands of vehicles that have some good functional parts. Auctioning off your ELV gives it a price based on factors other than its estimated weight.

Make Sure Your Scrap Dealer Offers a Guaranteed Price

One thing you need to avoid when scrapping your car is encountering a seller who haggles the price when they collect your car.

This practice still happens with some less reputable companies today. If you get a quote from potential buyers, make sure it’s a guaranteed price.

Another way to avoid getting haggled is to describe your scrap car’s condition as accurate as you can. We give free quotes for your scrap car and what we quote is what we pay. All you need to do is to enter your details and get an instant quote.

If you accept, we can set your vehicle collection immediately. We pay once we collect your car. We take the hassle away and do all the paperwork for you.

Cash in on Your Vehicle Tax

Make sure you contact DVLA for a refund of any unused tax before getting your scrap car collected. The best time to do this is before the end of a month. DVLA won’t include the next month in your refund if you don’t do it.

Tax refunds shouldn’t be part of your scrap car value. If you deal with a company claiming that their value includes the remaining tax benefit, find another one quick.

Sell Individual Car Parts Instead

Depending on your car, selling the individual car parts instead can increase your scrap car value.

You should only do this if you know the value of the individual car parts. It’s unlikely for you to get a better price compared to scrapping the entire car, but it’s worth a try.

Once you have sold all the valuable parts, you can negotiate with a scrapyard for the remainder of the vehicle. It’s more tedious to do so, but the payoff could be worth the time and effort.

Avoid the Missing Log Book Trick

The Missing Log Book Trick is one of the most popular ways for some companies to reduce your scrap car value.

The DVLA doesn’t require you to have the log book when scrapping a car. However, having the V5C (log book) makes the process easier so make sure you have done your best to locate it.

Check with your preferred company if they can collect your car without the log book. If they won’t, they’re likely using old business practices. It’s unnecessary now that there are ID rules that were introduced at the same time as cash transactions were banned.

Contact the DVLA When Scrapping the Car

This doesn’t exactly increase your scrap car value, but it prevents you from paying fines and penalties.

If you don’t contact the DVLA before scrapping the car, you might become liable for prosecution in case the ELV becomes operational again.

Aside from that, you might get £1,000 fine and become responsible for paying tax.

Get a Good Scrap Car Value Today

Finding a good price for your scrap car can be difficult.

When your vehicle reaches the end of its usefulness, keep these tips in mind to get the best value. You’re going to need all the money you can get to help you get a better car to replace your scrapped one.

If you want to scrap your car, we can help take the stressful parts away. We’re a fully regulated Authorised Treatment Facility (ATF) and we can offer great value to your scrap car.

Do you have any questions or concerns? Contact us today and we can help!