What is Salvage title?

Why Do People Buy Salvage Cars in Online Car Auctions?

By Mike Richards Updated: 05/22/2019 Posted: 06/06/2017

Online car auctions are becoming increasingly popular with consumers. There are a number of reasons for this, not the least of which is the incredible convenience that they afford. From the comfort of one’s home, it’s possible to browse an extensive inventory of used and salvage cars that totals in the tens of thousands. This makes finding the car that one’s looking for much easier than it is when you go to a dealership.

Even further, though, these online car auctions provide consumers with an incredible opportunity to save money. Particularly when one turns one’s attention toward salvage cars, it’s possible to save 70% or even greater than what one might have paid otherwise.

Of course, many inexperienced buyers will be put off by the idea of buying a salvage car. Most often this is because they fail to understand what salvage cars really are and the myriad uses they can have. Once you do understand the above, though, it will be obvious why so many use online car auctions to buy salvage cars.

Understanding What Salvage Cars Really Are

There are many who are under the mistaken impression that salvage cars are all wrecked vehicles. While this is true of some salvage cars, it is most definitely not true of all or even most. This is due to the fact of how a vehicle comes to end up with a salvage title.

Simply put, salvage titles are issued to vehicles when an insurer has paid out a vehicle’s policy at a rate of 75% or greater of that vehicle’s value. While this will happen after a catastrophic accident or collision, there are numerous other reasons. For example, vehicles that have been stolen will have their policies paid out. If that vehicle is subsequently recovered, it must be issued a salvage title, even if it has sustained no damage.

Multiple Uses for Salvage Cars

Damaged or not, salvage cars can serve a wide variety of purposes for different auto buyers. For example, those who are looking for a cheap vehicle for simply getting around town might wish to look into theft-recovery vehicles. As outlined above, these vehicles will be cheap due to the salvage title, but may have little if any damage that needs to be repaired post purchase.

In cases where a vehicle has been damaged, consider the following. If you’re able to repair a vehicle yourself, then you can save thousands over what it would cost to pay a mechanic. Because of this, it’s possible to source a vehicle, repair it and get it back on the road for far less than you’d pay for an ordinary used vehicle. And even in cases where a salvage car cannot be repaired cheaply, it can be used as a source of spare parts.

Try Online Car Auctions to Buy Salvage Cars

The above are just some of the reasons that people buy salvage cars in online car auctions. To really understand, you need to check out the auctions for yourself. So, sign up for one of these websites today and check out the salvage cars available. You’re sure to discover quite quickly how buying one might make sense for you.