Have you ever wanted to build your own car? Perhaps you want to own a specific kind of car like a Chevrolet or Ford, but you don’t have enough money to buy it at a new or pristine condition. If that’s the case, have you ever considered buying a repairable salvage car? Buying these cars brings many advantages like the low price tag and the opportunity to add your own personalized customization. In this article, I will highlight what salvage cars are, what to expect, the advantages of buying them, and how you can buy them.
What are Salvage, Repairable Vehicles?
A simple and straightforward explanation of a salvage car is: a totaled, wrecked, or badly damaged car that lost value due to a claim being paid for by the insurance company. For insurance companies, it is not necessary that the car is totaled but rather that the cost of repairing the vehicle to high enough for the insurance company to deem the car not worthy of being repaired. The causes for this vary, and may include the car having been stolen or having factory defects.
Legally, the designation of a salvage car varies from state to state. Some states consider a car with repair cost at or above 50% of the original value to be salvage. In contrast, others only consider a car as salvage when the repair cost is 100% of the value. On average, the threshold is around 70% of the total value of the car.
Further Reading
- Financing a Used Car for Sale
- Everything You Need to Know about Buying Used Cars
- Dealerships vs Regular Subprime Financing
- Car Financing Versus Car Leasing
These cars are then sold at auto dealer auctions. Some are bought for parts. Others, however, are then repaired and re-registered. This is where the advantage and appeal of salvage cars become obvious. Those looking to rebuild a classic Corvette or have their own Bel Air Chevrolet do not have to spend thousands of dollars. Rather, they simply need to get their hands on the salvage car and repair it to a condition where it can legally be driven on public roads.
Where do You Find Salvage Vehicles?
Salvage vehicles are sold by insurance companies on proxy auctions to dealers. This means that an individual that has no link to the car industry usually has no means to acquire salvage vehicles. However, there are ways in which you can buy cars at these dealer auctions. One way of getting your hands on these vehicles is to buy through proxy bidding sites, such as Auto Auction Mall.
How to Buy Repairable Cars
In the internet age, where you buy groceries online and have them shipped to your house the same day, you can buy a car online too. Online auto auctions work in a very similar way as any other online bidding services. You just need to register an account and bid on the vehicles that interest you the most. You will be able to access all of the offers available online and find all the relevant information on the cars, including their history. On these online auctions, you can buy salvage repairable vehicles for as low as $100, or even less.
So, when it comes to buying through an online dealer auction, you won’t need to worry about being tricked or having to haggle with a salesperson for the best price. On top of that, you will find deals for the type of vehicle you are looking for from motorcycles to pickup trucks.
Benefits and Tips for Buying Repairable Salvage Vehicles
However, where online auto auctions really come into their own is in the control they give to the user. This is because not only are you in control of what you end up paying through the bidding process, you’ll also get help from an auction specialist. This specialist will be assigned to you by the online car dealer auction website and will help you with everything related to your search and bidding. Because of this, you will have much better chance of making a great buy. You’ll get all the information you need, and won’t have to fear surprises. A great site to start at is us here at AutoAuctionMall.com.
Furthermore, buying a car is always a game of knowledge. If the seller does not disclose all the information relative to the car, you can find yourself with unwanted surprises at the worst of times. That is why proxy sites like AutoAuctionMall.com are great at helping people avoid falling for scams. Another major benefit of buying a salvage car is how much you can save on the overall cost of the car even accounting for the costs of purchasing parts and doing the repairs.
Current Live Auctions Examples
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Additionally, so that you get to that point, here are some tips to make sure you gain as much from online dealer auctions.
Tips
- Make sure you research the history of the car, including any accidents it may have been involved in and the record of structural damage.
- Check with your insurance company to make sure that future accidents will not be traced to the previous damages. However, you will probably find that it is not as easy to get insurance cover for a repaired salvage car as for a new or used vehicle. In many cases, your repaired vehicle may need to undergo an inspection by an agent of the insurance company.
- It is important to make a comprehensive review and find out that the costs of the repairs will not exceed the market value of the car. One way to do that is by searching the car’s history using an online auto check with the Vehicle Identification Number, or VIN.
How Auto Auction Mall Can Help
Auto Auction Mall can help you with the whole process. You can search for the closest repairable cars for sale at any time and as a result save thousands on your car purchase. Furthermore, we can give you access to auctions only usually accessible to dealers. By lending you our license as a ‘proxy bidder’ we can grant you access to these auctions. As a result, you can get access to the best repairable vehicles online.
Can we help with sourcing repairable or salvage vehicles? Contact us for more information. We will get back to you as soon as possible.
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