What is the insurance company's vehicle scrapping process?
2 Answers
Insurance company vehicle scrapping process is as follows: First, the car owner applying for scrapping and renewal must fill out an "Application Form for Motor Vehicle Modification, Transfer, Modification, Suspension, or Scrapping" and affix the owner's seal. Then wait for the registration acceptance counter to issue a "Vehicle Scrapping Notice" for vehicles that have reached the scrapping age limit. For vehicles that have not reached the scrapping age limit, after inspection and confirmation by the motor vehicle inspection counter that they meet the scrapping standards, a "Vehicle Scrapping Notice" will be issued. Next, the vehicle owner selects a qualified recycling company to deliver the vehicle for dismantling. The recycling company will inspect the "Notice," dismantle the vehicle, and take photos. The requirements are that the engine must be separated from the vehicle, the engine block must be broken, and the frame (chassis) must be cut. Finally, the vehicle owner submits the "Modification Form," "XX Province Vehicle Renewal Technical Appraisal Form," "Scrapped Vehicle Recycling Certificate," and photos of the dismantled vehicle to the motor vehicle inspection counter for verification and signature. After the license plates and certificates are recovered, the approval process is completed according to regulations, and the scrapping registration is finalized. Common scrapping regulations for commercial vehicles are as follows: small and micro-sized taxi passenger vehicles have a scrapping age limit of 8 years, medium-sized taxi passenger vehicles have a limit of 10 years, and large taxi passenger vehicles have a limit of 12 years.
Last time I handled a scrapped car, I sorted out the process: After reporting the case, the insurance company will send someone to inspect the car. If the repair cost exceeds 80% of the car's value, it will be directly declared a total loss. Then you need to sign the 'Vehicle Transfer Agreement' to hand over the car to the insurance company, and they will handle the towing and scrapping procedures. Prepare your ID card, bank card, vehicle license, and original registration certificate, and the money should arrive in about 15 days. It's recommended to remove the ETC device in advance and settle any traffic violations, otherwise, the payment may be delayed. My colleague who scrapped a hybrid car last time even received an additional battery recycling subsidy, but the specific amount depends on local policies. The whole process is actually more hassle-free than selling a used car, just make sure not to miss sending any documents.
