What is Salvage title?

Should I Always Buy a Cheap Car?

By Mike Richards Updated: 04/08/2020 Posted: 09/07/2017

You might be strapped for cash or simply don’t like the idea of spending too much money on a new vehicle. You’d rather spend less on a used car, the cheapest you can find, than go out and buy a new one. But should you always buy a cheap car, is it a good option?

Whether buying through a car auction from a used car dealer you should always stick to your budget, but always going for the cheapest cars has a number of drawbacks you should consider.

Here are some of the issues you may encounter.

Cheap Car, Expensive Repairs

Bidding on the cheapest car at the auction, or going straight for the cheapest vehicle at the used car lot, you might think that you are getting a great deal. But without inspecting the car, learning as much information about it as possible could cost you as soon as you close the deal.

You might find the car does not run at all, or maybe that it is a salvage title and can’t be driven on the road legally unless it is repaired, inspected and given a rebuilt salvage title. Even if the car works, you are bound to spend more money on getting it up to a respectable condition, otherwise, you might not get far with it.

What’s worse, some cars get declared junk or non-repairable so you will be able to use the car for parts only and nothing else.

So, when buying it may be better to look at cars that are roadworthy and don’t need much done on them, because more often than not, the cars sold at rock bottom prices have that price tag for a good reason.

Before going for a cheap car, better do some research first.

Is it Ever a Good Option to Buy Cheap Cars?

If you know what you are buying, then yes. But this means that, if you are buying at an auction, in person or through an online car auction, buying used cars for sale cars are a good way to save money.

First, you have to find out all the information you can on the car. Check the car’s history and see if it has been maintained properly. The information listed about the car at an online auction can help you determine the car’s price as well as your budget and whether it is cheap enough for you.

Salvage cars are often the cheapest option, and if you are mechanically capable and don’t mind getting your hands dirty by repairing cars in your spare time, you could buy cars that, even once you factor in the replacement parts, insurance and registration, cost less than you’d pay for a similar car with a clean title.

So, to conclude, always going for the cheapest cars simply because of the price is a bad idea, but doing your research properly and buying the car that will bring minimal added costs and does not need extensive repairs can actually save you a lot of money.