What is Salvage title?

The Good and the Bad When You Buy a Salvage Car

By Mike Richards Updated: 05/23/2019 Posted: 09/20/2017

You have probably heard people that tell you to stay away from salvage vehicles no matter what. They tell you that they are more trouble than they are worth. Of course, you might have others that you know who swear by these types of vehicles. Which is correct? Should you buy a salvage car or not? Take the time to learn some of the biggest pros and cons of these types of vehicles, and then see what is available so you can decide for yourself.

The Good

When you buy a salvage car, one of the best things about it will be the price. You can find some very affordable vehicles that have salvage titles, and some of them are in good condition. They may have already made repairs to the vehicle, but it still carries a salvage title because that is the law. The cars that you find could still give you years of service, and they are a real bargain.

Another one of the nice things about salvage vehicles is that you have quite a variety available, especially when you are buying through auctions. This means you can find the type of car that you’ve always wanted. You can also find salvage vehicles that are not running or that need a lot of repairs and simply use their parts to repair or rebuild a vehicle that you already have. This can be a great way to get parts for classic cars that you are rebuilding.

The Bad

As mentioned, a salvage or rebuilt title is forever, no matter how much work you do to the vehicle. This could make it more difficult to sell later, if you decide to sell it. In addition, some of the vehicles could have problems that are not apparent right now, which could result in more repairs for you down the road.

Another one of the potential problems with salvage vehicles is insurance. Keep in mind that you can usually get liability insurance through most companies. They will not have a problem providing you with this limited coverage. However, when it comes to comprehensive and collision coverage, most of the insurance companies will not offer coverage because they do not know how to find the true value of the vehicle. If you only need liability, though, this is not truly a con.

As you can see, there are both good and bad things with these types of vehicles. You need to think about how you will be using the vehicle, and the condition of the vehicle to decide whether you should buy a salvage car or not. The answer of whether this type of vehicle is right for you will depend on what you need and how you plan to use the car. If you decide that salvage is not a good option for you, look at some of the other options through auctions. You can also find cars without salvage titles. Start looking at your options now.