What is Salvage title?

How Do I Make the Right Choice When I Buy a Salvage Car at Online Auction?

By Mike Richards Updated: 05/22/2019 Posted: 07/19/2017

When you’re looking to get a car for a fraction of the price you’d expect to pay, it’s always worth it to investigate salvage cars. These are vehicles that have had their insurance policies paid out by an insurer at a rate of 75% or greater of the vehicle’s value. Once issued a salvage title, the insurer takes possession of the vehicle and then seeks to recoup some of its loss by auctioning it off. If you can access these auctions, then it’s possible to buy a salvage car from an insurance company, saving thousands of dollars in the process.

How can you make sure you’re making the right choices at auction or market? And, how can you gain access to dealer auctions for salvage cars? We will be exploring both of these topics below.

Using Online Auctions to Buy Salvage Title Cars

As you may already know, there are a number of websites now that provide access to dealer auctions online. Here, though, there is one important thing to understand. There are some websites that are predominantly focused on providing online access to dealers, and those that specialize in providing access to ordinary consumers.

When working with one of the latter, getting started is incredibly simple. One needs only to create an account before one can begin browsing an inventory of salvage cars to buy. If you find something that you like, it’s only a matter of making a deposit to establish your buying power. Typically speaking, the size of the deposit you make will equate to one-tenth of your maximum bid. So, if you wanted to bid up to $4,000 when you buy a salvage car or other real estate of seller, you would deposit $400.

Reading the Vehicle History Report

It’s important to understand that salvage cars in online auction come in a variety of different conditions. There are some that will be vehicles that were damaged extensively in a collision or another kind of accident. However, severely damaged vehicles do not comprise the entire inventory of salvage cars to buy. In fact, one should be able to locate theft-recovery vehicles, which will have a salvage title but could be in fine working order.

In the end, the only way to ascertain the present state of a vehicle when you buy a salvage car online will be to request a vehicle history report through a third party. The auction site that you work with should be able to provide you with the VIN for any vehicle in which you’re interested. Simply take this number to a website like Carfax, and you should be able to get a clear picture of the vehicle you intend to purchase. By doing this, you will ensure that you make the right choice when you buy a salvage car online.

Try Online Auctions for Salvage Cars Today

To buy a salvage car online is to be able to get a vehicle at an incredibly steep discount. Provided you research the cars upon which you bid, and work with the auction specialist assigned to you, it’s eminently possible to find the right car at the right price. So, give online auctions for salvage cars a try today, and see why so many other auto buyers are using them!