Cars are a great transportation companion but as rightly said, out with the old, and in with the new. Most people end up getting a new car but leave the old one sitting in their yard or by the roadside. If your car’s ownership is ending, it is an ideal time to think about scrapping or exporting instead of selling it. But before doing it, you have to keep in mind certain things to ensure that you don’t face any problems after scrapping your car. Here, we have compiled an easy guide to what you need to know before you scrap your car.
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Plan early
Planning a few weeks prior to the expiration ownership is important. For this, the owner needs to decide on a mode of disposal – scrap or export.
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Scrap
Scrap value depends on a number of factors such as the car model, its mileage, demand, and current supply. To receive full cash for scrap cars by this process can be a bit hectic and on top, the owner might have to deliver the vehicle to the scrapyard.
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Export
The key factors on which the car might fetch a fair amount of value depends on its model, popularity and demand in the country to which it’s being exported. The exporter helps you in selling your car overseas. A certain percent of deduction in paper value is incurred by this method that is owed in the interest of the dealer.
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Remove your belongings
Before scraping off your car, it’s important to remove all personal and valuable belongings from the car. Mostly in the trunk of a car, certain left out things are kept and need to be checked before disposal.
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Remove valuable parts
Certain valuable items such as batteries, entertainment systems, starters,s, etc fetch more money when sold out individually. These need to be removed prior to scrapping.
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Deregistration
Before disposing of your car, it’s important to cancel car registration failing to which you can end up in fines and also legal offense on pretexts of misuse. Before registration makes sure to fill any outstanding car loans or road taxes attached to car registration.
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Cancellation of car insurances
It is pertinent to cancel car insurance prior to disposing to claim a refund in case the car is subjected to full insurance coverage. This will also prevent complications in scrapping/ exporting such as being charged with recurring payments.
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Removing license plate
It is important to remove the license plate before scrapping upon transfer of title as a legitimate legal requirement.
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Licensed dealer and proper paperwork
While carrying out a deal, it is important to check the authorization of the dealer in papers or online to prevent yourself from any future complications such as non-payment of bills. Also, this will help in legal documentation and easy transfer of ownership. It’s important to keep all your documents well organized.
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Certified weighing scale
While scraping out your vehicle in the scrapyard, it is implicit to check the certification of the weighing machine. A faulty machine may show reduced weight and will cause you unnecessary loss.
Keeping yourself informed with these tips will help in getting the best deal out of scrapping/ exporting your vehicle.