The age-old saying ‘One man’s trash is another man’s treasure’ holds true in the world of scrap cars. What might seem like an old, unused vehicle to one person can hold significant value and potential for another. Thus, the thriving industry of recycling and salvaging cars has become a treasure trove for those who recognise the untapped potential and environmental benefits it offers.
Let’s dive straight into the details. On average, a scrap car in NZ can fetch anywhere between $100 and $15,000, depending on various factors.. However, it’s important to note that the average cost of scrap cars in Auckland may fluctuate based on the condition, model, make, and demand for specific car parts.
What are the factors that determine the value of scrap cars?
When it comes to the value of scrapping a car in New Zealand, the following are the factors that play a crucial role in determining it:
- Age and Condition: Older cars and those in poor condition that are beyond any repair for salvaging will have a lower scrap price.
- Make and Model: There are certain car models, such as vintage or limited edition ones, that have more desirable parts or salvage, which, as a result, increases the value.
- Demand for Parts: The availability and demand for specific parts of your car can significantly affect its worth. In fact, if your car model is no longer manufactured, it may have valuable components that are in demand.
- Weight of Scrap: Scrap cars that are beyond repair or do not have any salvageable parts are often sold by their weight. Thus, the overall weight can notably impact the value of scrapping a car.
Can you get a higher price by selling the parts separately?
Yes, selling the parts separately can often result in a higher price compared to selling the entire car as scrap. Selling the parts separately allows you to target buyers who specifically need those components, creating higher demand and potentially driving up the price.
For example, if you have a scrap car with a well-maintained engine, selling it separately to someone looking for a replacement engine can fetch a remarkably higher price than selling the entire car as scrap metal.
Similarly, valuable car components like transmissions, alternators, catalytic convertors, or body panels can have a higher resale value when sold individually.
Moreover, rare or sought-after parts, such as vintage car accessories or specialised performance parts, can fetch you premium prices from collectors and enthusiasts.
What should you do before selling your scrap car in terms of Paperwork and Legal Requirements?
Before selling your scrap car in NZ, there are some essential legal requirements and paperwork that you need to fulfill. Here is a list for your reference:
Ownership Documentation: Gather your vehicle’s registration paper or Certificate of Registration (CoR) to prove your ownership.
Cancel Registration: Officially cancel the vehicle’s registration through the New Zealand Transport Agency (NZTA) using the MR15 Form.
Return License Plates: Remove and return your vehicle’s license plate to an authorised NZTA agent to avoid misuse.
Provide a Sale Agreement or Receipt: Create a written agreement or receipt with the buyer and seller details, including the vehicle’s VIN, sale date, and agreed price.
Adhering to these requirements will ensure a smooth and compliant process of scrapping your old car.
In conclusion, researching online, obtaining multiple quotes, and considering selling parts separately may help you determine the best value for your car. Above all, choose a reputable scrap car buyer who offers a fair price and environment-friendly disposable options.
