Graduate turns old cars into cash - graduate jobs

A Nottingham University graduate has set up a business that recycles cars and donates the proceeds to charity.

Since the scheme started in January, 23-year-old Tom Chance has raised £150,000 and processed 1,500 cars for salvage or scrap.

The service offers people the chance to get rid of their unwanted cars in an environmentally friendly way and choose which charity receives a donation.

Mr Chance, from Wandsworth, south London, developed the idea after seeing similar schemes work successfully in the US.

He said: "I'm interested in green matters and the environment but the driving force was to raise money for good causes. It just seemed crazy that no charity was involved in recycling cars.

"We act as the intermediary between the customer and the largest nationwide car recycling network and co-ordinate the donation.

"People ring us up, we arrange for the car to be collected and then, depending on what state it is in, it is either sold at auction or disposed of at an authorised treatment facility.

"Giveacar receives the donation and the customer chooses the charity they want to give the money to."

The London-based business employs four staff and operates nationwide.

Mr Chance said a 20% administration fee is taken to cover the running costs of the office.