Scrap a Car VS Trade-In
There are a few reasons why a vehicle owner chooses to let go of their used car. Some do it due to the vehicle’s being an old model and having reached its functional limit, while some opt to let go of their old cars to buy or trade them for a new one. Some let go of their car to get some cash off it.
Getting rid of your used auto leads you to a crossroads of options, with the most common routes going to either scrapping your car or doing a vehicle trade-in. There are some factors you need to consider before making a choice, in order for you to get the best deal out of your old vehicle. This article will provide some quick but helpful tips to help you decide!
Which one is better, Scrap a car or trade in a car?
While these two options have their own advantages, it all boils down to your needs and the purpose of letting go of your used vehicle. Let’s differentiate the two to give you a better idea:
Scrapping your car
Scrapping a car means that you’ll send your car to the scrap yard for cash so that they can salvage valuable metals, parts, and other pieces, while the rest gets recycled and/or disposed of safely. With this option, you’ll get cash for scrap cars, depending on the state of your used vehicle. Some scrap yard companies also offer free towing services to clients as part of the package.
Car trade-in
A car trade-in involves turning in your old vehicle to a dealership in exchange for credit for a newer auto. While the process of a trade-in can be lengthy and daunting, it’s still considered to be an easier option compared to selling your used car privately. Oftentimes, the dealership handles all the necessary paperwork for the entire process. However, there can be some disadvantages, one being the value of your car being valued at a lower price. To avoid this, it’s best to do some research to find a reputable and reliable dealership.
Should I trade in or scrap my old car?
Whether you scrap your car or trade it in at the dealership depends on the reason why you’re letting go of your used car. If you’re aiming to upgrade your car to a newer model with the same value, then this option is a convenient way to go. However, if you’re looking to get top dollar for your used vehicle, then scrapping your car is your best choice.
Both options offer convenience when it comes to disposing of your used car, but when it comes to a financial standpoint, scrapping your car provides more advantages. Apart from getting a fair valuation of your car, you can also get free towing from scrap yard companies to save you the hassle. Lastly, in order to get a fair deal in trade-in transactions, you will most likely need to have a slightly used car.
If your vehicle is an older model and has had its fair share of wear and tear, then you’ll get more from scrapping it, as getting repairs done to make your used vehicle a tradeable one could cost you more.
Who buys cars for cash near me?
If you want to sell your used car for cash, look for scrap yard companies near your area. If you’re residing within the Greater Toronto Area (GTA), Towing and Scrap Removal Toronto is here to assist you and provide the best offers for your old auto. They also offer free towing within the GTA and quick, seamless services available 24/7!
Trading in cars for cash online
If you’re looking to trade in your used car for cash, you can do an online search for dealerships within your area, and from there, look for rates and reviews about their organization and transactions. Some dealerships tend to lowball the prices of vehicles to clients, so it’s better to look for a reputable company to get an accurate quote.
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PROS AND CONS
Pros of scrapping your car include:
- You get top dollar for your used car
- A fair valuation of your car
- Quick and easy transaction
- Free towing services
- An environmentally friendly option
Cons of scrapping your car include:
- You get less than the current market price of your car
- Not every scrap yard offers free towing services
- Not every scrap yard is available 24/7
Pros of trading in your car are as follows:
- A more convenient process vs. selling your car privately
- Some dealerships take care of the paperwork
- You can get cash while getting rid of your car
Cons of trading in your car:
- Some dealerships can possibly lowball the value of your vehicle, as they are aware of the hassle of selling it privately
- The value of your used car can vary, depending on the time of trading and the maintenance condition
- Possible additional cost for repairs if your used vehicle has maintenance issues
- No free towing services
FAQ
How does scrapping a car work?
The process of scrapping a car involves selling your used vehicle to a scrap yard for them to segregate reusable parts and either sell them for profit or recycle the metals in the car for other purposes.
What does trading in a car mean?
Trading in a car means that you’re going to turn in your used car to a dealership for credit towards a new car.
How does a scrap yard company determine a used car’s value?
They use various institutions like the Canadian Black Book or the Kelley Blue Book to determine the current market value of the vehicles and then calculate the price per industry standards. You can also check this article for estimating the value of your used car.
Why is scrapping a car eco-friendly?
Scrap car companies in the province of Ontario use scrapping methods that are on par with ethical and environmentally friendly standards.