More Than Just A Scrap Of Metal: Three Ways Your Old Car Can Help Pay For Your New One

    Posted by Ben Davidson about 8 months ago

    You’ve been putting it off for longer than you can remember, but the day has finally come. That’s right; it's time to get a new car. Your old one has served you well, but it just isn’t doing the trick anymore. Let’s honest; it doesn’t even look the part next to all these new models on the road. It might have been top of the range when it came out, but who knows how long ago that was. Things in the auto industry have moved on, and you need to as well.

    Sadly, you now need a small fortune to afford a new vehicle. Last year alone, prices rose by 3%, meaning that the average new car costs a whopping $36,000. Tesla’s Model 3 is responsible for .5% of that, but you’re still talking about a fortune when you take that out of the equation. Even Fiats have seen a rise of 4% in the last year alone, bringing their average total up to $38,497. These aren’t prices the majority of us can afford.

    But, we’re here with a little trick for you. As useless as your old car may now seem, it can do one last thing for you before the end of your relationship. It can knock money off the price of your new car in the following ways.

    A straight swap to knock some money off

    By far the best option here would be to do a straight swap of your old vehicle with a garage. Companies like Hawthorne Auto Square offer you the opportunity to cash in your vehicle. Some garages even offer financing options where they take the cost of your old car into account. Of course, no garage in their right mind is going to want an old banger which barely works anymore. But, if your car isn’t all that old and doesn’t have any real issues running, you should be able to get a decent amount off your new purchase. Even $5,000 towards the cause can make a huge difference. Still, many people don’t see this as a worthwhile route to take. If you can see your old car fitting into a modern garage, though, you would be mad not to at least give this method a go. It could see you walking home with the hottest vehicle on the block, and some change left in your pockets.

    Even scrap comes at a price

    Even if you think your old vehicle is beyond any value, you can make a fair buck by scrapping the thing. Scrap metal from cars can fetch around $150 per tonne. With that figure in mind, even the rustiest, grubbiest cars going can get as much as $300 if the size is right. You could even end up with more than that if your car was fit for auction or contained some salvageable parts. One man’s trash is another man’s treasure, as they say. Don’t think, either, that amounts like these are too negligible to bother with. When you’re looking at a price tag the size of those new cars, you’ve got to make the most of any cent you can scrape.

    What about all those additions?

    We all love to customize our cars and improve them with the additions we make. Yet, we’re pretty quick to kiss goodbye to those pricey extras when the time comes. However, these could also see you saving yourself a pretty decent amount. But, we know what you’re thinking; how does this help you with buying a new car? Be patient, young grasshopper. Bear in mind that the majority of new vehicles come complete with customizable options. You can usually choose to include things like infotainment, dash cams, and even new wheels if they take your fancy. We are very much living in the age of the customizable car. But, you probably have a lot of these things on your old car already. By removing all those valuable additions, you could knock a small fortune off your new car price. Though you could still face a sizeable bill at the end of all this, basic designs are a whole lot cheaper. And, besides, your car may be crap, but there’s nothing wrong with those new tires you stuck on there. That little dash cam you bought yourself could certainly serve in another vehicle. As a last resort, then, get to work finding every salvageable scrap which you have left. Then, head to the garage and see how much your efforts here can save.

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