Scrap merchants in the West Midlands are willing to pay up to £400 for old bangers as the price of metal soars, it was revealed today.

Just a few years ago, dealers would have charged around £50 to haul away a vehicle that had failed its MoT – but now the tables have turned.

With the current price of steel, aluminium and copper so high they are now paying the owners for their old rustbuckets.

The number of cars abandoned on the streets of the region has plummeted in line with the soaring price of scrap metal.

The figure has fallen by two thirds in five years, according to the Local Government Association (LGA). The total fell from 16.1 million in 2002/03 to 5.1 million in 2006/07.

Chris Hill, who runs All Star Cars in Darlaston, said he would be anything from £50 to £400 depending on the type of car.

Paul Bettison, chairman of LGA’s environment board, said: “A triple whammy of cracking down on would-be dumpers, quicker clearing up by councils and soaring metal prices are helping to win the battle against unsightly old bangers being left on our streets.

“A few years ago, you’d have had to pay someone to take your old car away but now scrap metal dealers will pay you up to £1,000.”

Craig Perry, of A and B Car Spares in Stallings Lane, Kingswinford, said: “The price has definitely increased. At the moment we are paying between £100 and £150 for a scrap car.