Deciding whether to sell or scrap your car can be a tricky decision to make. Selling the car will net you more cash if you can find a buyer, but that may be a rather big 'if' – especially if you've clocked up a lot of miles and the vehicle is no longer as reliable as it used to be.
To help you make the right choice, we've put together a list of key points to consider when deciding whether to sell or scrap your car. Let’s dive in!
You Should Consider Selling If…
- Your car is still in good working order and is safe to drive.
If your car is in good working order, it shouldn’t be too hard to find a buyer if you want to sell.
- Any repairs needed are affordable and won’t drastically reduce the car’s value.
If you can afford to repair the car and believe you will still get a good amount for it, selling is a viable option.
- You’re willing to spend time advertising and finding a buyer.
Selling a car privately or through a dealership can take a lot of time, patience and energy, but if you’re willing to spend the time arranging it, go ahead and try to sell.
You Should Consider Scrapping If…
- Your car has frequent breakdowns and is unreliable.
It will be incredibly difficult to sell an unsafe and unreliable car so you can save the hassle by scrapping it.
- Your car isn’t worth much or requires costly repairs – particularly if the cost of repairs exceeds the car’s value.
If your car requires extensive repairs, it is probably the most financially sensible decision to scrap it.
- The car is old with high mileage.
Cars that are very old or have a high milage have a much lower resale value and are more prone to mechanical issues, making them better suited for scrapping.
- You don’t have the time to coordinate with dealerships or arrange advertising.
Scrapping is a quick and easy to way to get rid of an old car and avoids all the energy and stress involved with finding a private buyer.
- Your car has been written off.
If your car has been declared a write-off, it is probably beyond repair or extremely expensive to fix and therefore should be scrapped.
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