| In the UK over two million vehicles are scrapped | | | | Once you have looked up the retail value of your |
| each year and are often processed in one of the | | | | vehicle you will next need to find its trade in or |
| many scrap yards located around the country. | | | | wholesale price. Again there are several sites |
| These yards provide a quick and convenient way | | | | which can help you do this and in some instances |
| for people to dispose of old vehicles. Most yards | | | | its worth ringing several dealers. They usually |
| also offer cash for your old vehicles so | | | | have the most up to date valuations. |
| understanding the value of your scrap is | | | | Now that you have the two figures you will need |
| extremely important. | | | | to add them together and then divide them by |
| The first thing to consider is your geographical | | | | two. This will give you the cars current market |
| location as it is likely that you will be close to | | | | value. |
| more than one scrap yard. This availability and the | | | | The next step is where the difficulty lies as it |
| distances which most scrap dealers are willing to | | | | involves using figures from insurance companies. It |
| travel means you can often shop around. One of | | | | is difficult because different insurance companies |
| the best things a vehicle owner can do is get | | | | use different figures. A suggested figure is 75% |
| valuations from several sources. | | | | and this is the percentage they will pay out on a |
| Getting a valuation is only one part of the story | | | | cars current market value. |
| as the key is to understand the valuation itself. It | | | | Once you have the percentage figure from an |
| is easy to guess at a reasonable figure however | | | | insurance company you need to multiply it by the |
| you could be losing out on a large amount of | | | | cars current market value. This will provide you |
| money because you did not look into the true | | | | with a rough figure as to how much your vehicle |
| value of your vehicle. Some unscrupulous dealers | | | | is worth. |
| will offer very low valuations and this is why it is | | | | This information can then be used to make a |
| so important to get several quotes. | | | | judgement as to what would be a fair price. It |
| When looking to make a valuation on your vehicle | | | | should be noted however that the value of scrap |
| you will need to consider several things. Firstly you | | | | can fluctuate wildly and scrap yards valuations will |
| will need to look up the retail value of your | | | | go up and down based on this. The damage to |
| vehicle. There are several websites which can help | | | | the car is also a huge factor and some dealers will |
| you with this and also a couple of books which | | | | deem damage to be more expansive than others. |
| you can purchase on the high street. When | | | | For example some dealers may fail to spot |
| looking at these you should check you get the | | | | certain things. |
| precise model. This will help you determine the | | | | This process is not an exact science but gives |
| value of your car if it was in near perfect | | | | people the opportunity to understand a bit more |
| condition. | | | | about their vehicles and how they are valued. |