Blog

How much can you get for your scrapped car? Part one

Are you tired of your damaged car taking up space and costing you money? Selling it can be a hassle, but with the right approach, it can be a smooth and profitable process. In this series, we'll delve into the ins and outs of selling damaged cars, from assessing the damage to negotiating the best price. We focus on helping you understand the basics and share the available options.

When a car reaches the end of its life, it's time to consider scrapping it. But how much can you expect to receive for your scrapped vehicle?

How are damaged cars valued?

When scrapping your car, it's important to understand the factors determining its value. Several key elements influence the amount you can receive for your vehicle. Let's delve into the details to gain some perspective.

• Vehicle Age and Condition: Older vehicles with significant damage or missing parts will fetch lower prices.
• Metal Content: The amount of metal in the car, especially steel and aluminium, influences its scrap value.
• Salvageable Parts: If the car contains valuable parts that someone can reuse, they can increase its scrap value.
• Current Market Demand: Fluctuations in metal prices can affect scrap car values.

How much can you get paid?

A common practice is to estimate the scrap value of a vehicle. This is usually done as a percentage of the vehicle's retail value. Specific values may vary. This percentage typically ranges from 13% to 20%.

For example:

“The salvage value of a vehicle with a Retail Value of R115000 will range between R14950 to R23000. This value might even be higher depending on the severity of damages and salvageable parts on the vehicle. “80% of the value on salvage vehicles is determined by the engine, gearbox and drive train” says Rikus Botes, sales manager at Sell Your Damaged Car.

He continues, “The retail value on a 2008 Toyota Yaris T3 + 5dr is R70300. The Salvage Value will range between R9139 and R14060. This is affected by the overall condition of the specific vehicle. Market trends also play a role in the demand for certain vehicles and the availability of their parts.”

Important considerations

Once you decide to scrap your damaged car, it's important to de-register it. This helps you avoid legal and financial problems. This process involves notifying the relevant authorities and removing the vehicle from the official records.

Your scrapped vehicle will also receive a salvage title indicating its limited future use. If you choose to sell your car it is important to consider a reputable salvage dealer that follows environmentally friendly recycling practices is essential to minimise environmental impact.

Cash for your damaged car

Contact us today for a quick and hassle-free selling process. Explore more from our informative blog. Don't let your damaged car become a problem. Let us help you turn it into a solution.