You might have heard that scrapping cars is becoming increasingly lucrative. This is largely down to the fact that the scrapping process can now make use of more parts than ever – with more of the scrapped vehicle being put to good purpose, scrappers are able to offer more money when you’d like to dispose of your vehicle.

Most good scrapping companies will provide you with an upfront quote. However, there are several hidden costs that can cut down on your profit. Here are just a few of the most common.

Late Payment

You should really be paid the agreed quote prior to collection, but this doesn’t always happen. You can sometimes be left waiting to get the money in your account, and that can be a problem since most people will want to use the money towards the deposit for a new vehicle. Without it, they may be stuck using public transportation or a rental until the money goes through. That isn’t just inconvenient and aggravating – it can also end up costing you a fair amount of money.

Unexpected Fees

Look for a car scrapping company that covers all charges themselves. It’s an unscrupulous tactic to quote a high price and then deduct certain fees from it. Administration fees are common, so make sure they aren’t coming out of your end.

Collection Fees 

One of the reasons why people used to dislike having their vehicles scrapped was the sheer bother of having it transported to the local scrapping yard. When scrap cars weren’t worth much, it wasn’t rare for the cost of towing to roughly match the price you received for scrapping. Nowadays, companies should be able to pick up your vehicle themselves from almost anywhere in the country. However, you need to make sure they aren’t charging you for the privilege. At the very least, make sure collection fees are included upfront – even better, look for a company that covers collection fees themselves.