What To Do With My Old Car?

The time comes inexorably when all owners wonder what to do with my old car. Either because they decide to invest in a new vehicle, or because it has reached the end of its useful life; The answers to this question will vary according to the circumstances.

Before taking any action, the general condition of the car should first be assessed. Considering from its antiquity, to the level of operability. Based on this diagnosis, which includes other variables, it is determined that it is more convenient: repair, sell or cancel.

Accidental death cases

Vehicles older than 10 years, which suffer severe damage in a traffic accident, very hardly ‘come back to life’. If the car has an All Risk policy and the driver did not deliberately cause the accident, the insurance company will make the decision without delay .

The vehicle receives the derecognition and the owner a compensation of up to 80% of the market value, depending on the years of the vehicle and its market value.

If the car does not have extensive coverage, its destination should still be the junkyard. Only, in this case, the owner has to carry out all the respective procedures, and start thinking about the acquisition of a new machine.

Natural death

Cars with more than fifteen years of continuous use accumulate significant wear and tear, difficult to hide. In addition, as the failures are accentuated, road safety begins to be really compromised.

Although buying a new car (even if it is second-hand) is a disposable option in many cases, sometimes insisting on repairing an old car is too.

Low: what to do with my old car?

 The process of deregistering a car is fairly straightforward . All you have to do is go to an Authorized End-of-Life Vehicle Treatment Center (CAT).

There the car is dismembered, following parameters of respect for the environment. As an additional note, these centers are also responsible for notifying the authorities that the vehicle in question is out of circulation.

The documentation that must be attached is the following:

• ID of the owner or legal authorization, in case the property falls to a legal person.
• Circulation permit, accompanied by the technical inspection card.
• Photocopy of the last payment of the Tax on mechanical traction vehicles (IVTM) or Traffic Tax. This requirement does not apply to cars that are more than 15 years old.

Repair the car if it still has ‘life left’

What to do with my old car? When answering this question, it should not be overlooked that, the older it is, the greater the expenses that will have to be borne to keep it in useful condition.

Although as long as it is not a question of major repairs, it will be cheaper than acquiring a new agency or second-hand vehicle.

Sell

Another valid answer to the question what to do with my old car, although it does not work for all cases. When selling a car, there are fundamental considerations to take into account. Another question must also be answered: why sell?

If the reason is based on the real possibility of acquiring a new car, there is not much to analyze. But if it obeys exclusively the state of the car, the picture is different.

Vehicles are among the assets that depreciate the most ; the older they are, the lower their value. In addition, the more years in tow, its devaluation will be even more rapid and dramatic. Therefore, if the decision is to sell, this should be a process that does not take too long.

How to sell?

Until a few years ago, this was a quick answer question. It was painted on the rear window that the car was for sale and to wait. You could also use classified ads in newspapers.

Today, the processes are more diversified. You can go to physical dealerships or the result of new digital business models, who will set the value of the sale, in addition to keeping a percentage of the operation.

You can still do it “old-fashioned” and on your own. But in almost all cases, it represents a much longer and even tortuous path. Although with some patience, the economic benefit will be more substantial.