LoansDirect Blog
car loan

It’s Quite Hard to Get Rid of Your Old Car. Here’s the Do’s and Don’ts

October 16, 2015

Your First Car, Was it the Love at First Ride?

We know how much you love your car. However, when it gets old and pops out issues frequently, investing more money in fixing it is no longer a viable solution. If your car is too old and you are thinking to sell your car, you will need a safety certificate. That’s the time to make up your mind to get rid of it as well as make some money out of it by sending it to the scrapyard.

So how much money could you make if you scrap your car?

Well, it largely depends on the make and model of the car that you own. Bigger the car is, bigger is the money you could get from car scrappers. If your car is in running condition with minimum damages, you might also ask for a higher price. Remember that bargaining with the scrappers is not so easy and the price you will get for your car would be close to their initial offer, most of the times.

However, you should expect the minimal amount you would make through it. If your car is completely damaged, you won’t be getting any money out of it because towing it to the scrapyard would go beyond the value for the scrap metal.

Another way to get rid of your old car is to sell the parts and accessories of your car. Nevertheless, this is a time consuming process and would take longer than just sending it to the scrapyard. Moreover, going this way means you will have to manage separate transactions, for each part of the car. You can do that by fixing a competitive price for each part before you start selling. Then, when you decide that most of the parts that could be taken advantage of have been sold, you can send the reaming car to scrapyard.

The better the condition of your car, the more money you would get from it. Additionally, if the condition of the car is excellent, you can even trade it with the dealer and get the money adjusted in buying your new car. If you are thinking to buy a new car, you can go for a car loan too.

More than $75 million AUD
disbursed in loans!