Selling a used car is not an easy task especially when its condition is highly deteriorated. It is difficult to find a buyer who is willing to pay a good amount of money for the car. Since most of the parts of the car are not working, individual buyers are not interested in buying as they would have to spend a lot of money on the repair work. It is also not profitable for you to invest your money in repairs and then selling it to interested customers. The reason is that the value of the car is not going to increase much even after the repair work is done and you would end up in a loss after the transaction. However, there are some scrap car buyers or junkyard shops which are interested in buying the scrap cars as they dismantle all the metal parts, melt them and use them to make new metal parts. They also don’t create any fuss regarding the documents or service records. Even if your car is totally damaged and needs to be towed, they will still buy it and provide you with top dollars. The process of scrapping involves removal of the chassis number before the car is sent for recycling processes. The responsibility of removing the chassis number lies with authorized scrap car buyers. However, the car owners must ensure that they check the credibility of the scrap car buyers in order to avoid any kind of confusion later on. The owners also need to inform the RTO department in order to deregister the ownership of the car. The scrap car dealers first inspect the car and weight the car. After that, they provide the owner with the quotation which is then further negotiated. After the owner has given the approval, the scar car buyers dismantle all the parts of the car for sending as most of the owners do not have any prior experience in selling scrap cars, it is recommended to adhere to certain guidelines which will help you in a smooth and convenient transaction. You need to prepare all your documents in advance before you start communicating with the buyers. Even though there is hardly any formality required, but there are still some necessary documents that need to be cleared before you hand over your car to scrap car buyers. It must be noted, however, that you do not need to provide the original document of registration to the buyer. A photocopy of registration can be submitted instead. You must also make sure that you have clicked some photographs and recorded video of the scrapping of the car to keep as evidence for the future.
The process of valuation and registration for scrap cars:
The value of the car depends upon its condition. If it is still working, its parts can be sold separately. In case the car is damaged to the extent that there is no possibility of any kind of repair, then the value is estimated by the weight of its metal parts. The owner also needs to submit the original registration and car’s chassis number plate to RTO before the scrapping process. The scrap dealer also needs to submit a correspondence form which contains full address of the scrapping station. After the submission, RTO will verify all the documents and maintain a record for future reference.
Documents the owner will require to sell a car for scrap:
- Vehicle registration document (V5C):
- Certificate of destruction (CoD)
If “scrap my car” is the thought that often comes to your mind then do visit junkthecar.com and turn your thoughts to reality. It is the best place where you can sell a car for scrap and for a good price. The sellers just need to contact the company and can proceed with the selling process if they are satisfied with the price offered by the company for their vehicle.