If your old car is not getting you from point A to point B, it might be time for a new one. But where do you start? It’s tempting to feel a sense of relief when a car has reached the end of its life, and you’re ready to move on. However, there are many things that must be done before you can drive off into the sunset in your replacement ride. You have to go through the emotional process of letting go as well as take care of all the necessary paperwork and legal obligations. Here are 5 ways to get rid of an old car in Melbourne, so you don’t have to deal with any of those pesky details!
1. Selling the old car privately
In most cases, selling the old car privately means going into the world of potential buyers. This is because many individual buyers out there will be willing to purchase old, low-mileage cars for their resale value and character. These people would prefer that the car not be trailed around and often take it to their local garages for inspection and repairs.
2. Selling the old car to a dealer
Buying a used car and then selling it to a dealership is the quickest way to get rid of an old car. You won’t have to pay any money, as a dealership will purchase the car from you for a lower price than the market price. Many are excited to sell their old car to a dealer because it means they’ll make a little profit on the deal. Selling to a dealership also allows you to turn a profit because you’ll get some money from the transaction. If you sell your old car to a dealership, you’ll have to take care of some additional legal obligations that don’t involve the car itself. You’ll need to deal with the insurance and registration paperwork to make sure the car is insured, and you’re registered with the DMV.
3. Trading in the old car for a new one
This is the simplest of the options. You don’t even have to go to a dealer to trade in your old car. You can simply log onto your bank’s website and ask for your trading credit. That way, you’ll be able to get a new car without having to go through the hassle of getting it registered in the name of the new owner and paying for a new registration certificate. You can also look for used cars in your local area to know if you like the one you’re considering before you put in an offer. It’s a win-win situation for both the buyer and the seller.
4. Donating your old car
If you’re up for giving your old car to another person in need, you may be eligible for an oil voucher. A charitable donation of a used car is often considered a charity donation in Australia. Your tax deductions will depend on the size and value of the car. A deduction of only $10,000 or less means you won’t be able to claim GST on the entire donation. However, you can use your taxpayer information to apply for the donation if the car was worth more than $20,000. If the car is worth over $20,000, you can claim the GST of $10,000.
5. Scraping your old car
So, you’re ready to pull the trigger. But where do you start? Don’t look to your neighbor’s for advice. It may be tempting to start at the curb outside of your block. But if there’s no space available, it’s best to start at your local council, otherwise, they will try and charge you for scrapping. You will need to apply for a Scrap and Demolition permit to get your unwanted vehicle removed. The cheapest place to dispose of your car is at the recycling depot. The larger vans have an opening in the rear of the cab, which is where you’ll put your car.
No matter how you get rid of an old car, the important thing is that it gets rid of you as well. It’s a journey that ends with you, not the car. It’s not what you own, but what you do with it that makes a difference.