When you’re looking to get the best possible deal on a car, one that others won’t believe, it’s worth your time to look into salvage title cars. For a number of reasons, these vehicles t have been written off by an insurance company. In many cases, these are wrecked used cars for sale that got mild to severe damage, were repaired or rebuilt and again registered in DMV as salvage title cars. In these cases, the insurer has decided to pay out a policy at 75% of a vehicle’s value or higher. After paying out the proceeds based on the policy, the insurance company takes possession of the car, along with the salvage title issued to it.
And so insurance companies have no reason to hang onto these salvage title cars. That’s why insurance companies across the country offer them up through auctions. For many decades, these auctions for salvage title cars have mainly been closed to the general public, only available to those with dealer’s licenses. However, online car auctions have changed all that.
If you’ve been looking to buy salvage title cars from insurance companies, then read on. We’re going to explain how you can use online car auctions to do so, as well as the many benefits people can enjoy when they buy a salvage title car.
Salvage Title Cars From Insurance Companies
What insurance companies cover salvage title?
|Car insurance company||Liability insurance coverage for salvage cars?|
|21st Century||Yes; inspection required in KS, KY, RI and WV|
|Esurance||Yes in KY and NC; In CA if you qualify for state “good driver” discount|
|Infinity||Yes; In CA if qualify for state “good driver discount”|
|National General||Yes in AL, AZ, MO, NC, NY, PA, RI, WA; In CA if qualify for state “good driver discount”|
|Safeco||Yes in all states except CA|
|Titan||Yes in all states except CT and GA; In MD, will not cover “vehicles with flood or stolen/recovered titles”|
The Benefits of Buying a Salvage Car
Salvage title cars come in all makes and models. In fact, they run the gamut in terms of condition. As such, they’re almost perfect for a large swath of the auto buying public. First, home and professional mechanics can use them to mine spare parts. Second, weekend warriors can purchase salvage title cars in order to begin a new project in the garage. Third, parents looking for a cheap car for their newly licensed son or daughter can look into salvage options.
Regardless of what kind of car buyer you are, there’s one main benefit of salvage title cars that appeal to everyone. This is because these cars can get purchased for incredibly low prices — 40 to 75 percent! Because salvage cars always carry their ‘salvage’ designation, they do not have the same resale value as normal used cars. When you combine this fact with the money one can save through the auction format, it’s easy to see how consumers can save thousands when they buy salvage title cars!
How to Buy a Salvage Car Online
Of course, if you want to buy a salvage title car online, you need to understand online car auctions and how to use them. In recent years, a number of websites have cropped up that allow ordinary consumers to access certain dealer and insurance auctions taking place across the country, and will even help you arrange transportation to ship the car abroad. The reason why these websites can do this is that they list vehicles from certain dealers auto auction houses on their site so that you get access to this inventory at well below market value.
Using one of these websites is pretty much the same thing as using a site like eBay. To get started, you merely need to create an account by providing basic information about yourself. After that, you’re free to browse the extensive inventory of salvage title cars that are ready to buy. Once you find something that meets your needs, you only need to deposit funds into your Auto Auction Mall user account to establish your buying power and start bidding!
So, if you want to buy salvage title cars from insurance companies, you have your answer. Give online dealers auto auctions a shot today, and see why so many other auto buyers have done the same thing!
Top 5 biggest salvage car auctions
- Copart – Salvage car auctions (Dealers Only)
- IAAI – Insurance salvage car auctions (Dealers Only)
- Auto Auction Mall – Used, pre-owned, salvage and insurance car auctions (Dealers + Public)
- Dashub.com – Salvage and insurance car marketplace (Dealers + Public)
- Ridesafely.com – Salvage and insurance car auctions (Dealers + Public)
Salvage Title FAQ’s
For additional information on salvage title car auctions from insurance companies please contact us.
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