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Here are two advantages of selling your vehicle for its scrap value:
- Some cash — you will probably get more money for your vehicle by scrapping it than by donating to a charity. However, you may want to evaluate the tax consequences of disposing of a vehicle to be sure this is the case.
- Simplicity — there are few "strings" attached to, or liabilities created by, scrapping a vehicle; you also do not create any ill will toward your business as you could by selling an unreliable vehicle to a private party. Moreover, the fact that your vehicle is very old, worn, or a specialty vehicle (such as a septic tank pumping truck) that nobody wants probably won't be a problem.
Two disadvantages of scrapping a vehicle are:
- Availability — in these days of environmental consciousness it can be difficult to find a scrap yard.
- Costs — in some places, you may actually have pay for the privilege of scrapping a used vehicle because of environmental concerns.
Pros and Cons of Scrapping a Vehicle
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