What is Salvage title?

Should You Consider the Insurance Salvage Cars for Sale?

By Mike Richards Updated: 06/20/2022 Posted: 09/14/2017

We all love a bargain, but we have all learned that you “get what you pay for,” and some of us have learned that the hard way. Whether it was a super cheap pair of shoes that were similar to medieval torture or an electronic gadget that failed within weeks of buying, we know that bargains are not always what they are cracked up to be. So, what about cars? In particular, should you consider buying any insurance salvage cars for sale to get a bargain price?

In a word: yes.


Understanding Salvage

There is so much confusion about insurance salvage cars for sale and salvage cars in general. Because of the Internet, buyers have an amazing number of resources readily available to explore the details about any insurance salvage cars for sale, find out how they became salvaged, and learn if they should make a move to buy one.

Salvage vehicles can be the result of some minor body damage or cosmetic issues. For example, one earlier model of the Hyundai Accent could be deemed salvaged if the rear panel was damaged. This was because the cost of that repair would end up being more than the book value of the car. This is what many call insurance salvage, and insurance salvage cars for sale can be amazing deals.

Essentially, if you are in the market for an affordably priced vehicle, salvage vehicles should not be automatically ruled out. As the DMV so aptly warns, there are reasons to consider them and reasons to avoid them. For instance, they say that you may be unable to know what happened to the car and what repairs the future holds. They point out that the value of the car is difficult to determine once a salvage title is attached to it – meaning you cannot ask for market value if you sell it in the future.

You also will find that few dealerships accept them as trade-ins down the road, and some insurance companies don’t want to insure them at all.

Now, those are the cons or downsides of purchasing any of the many insurance salvage cars for sale. Yet, they may all be invalid or moot points. Why?

  • you may not be considering selling it in the future,
  • or you may be well prepared to make any further repairs and
  • you may have no intention of trading it in.

If you can obtain a VIN, you can also find out the history of the car, and perhaps even learn if the damages that made it salvage were from flood, weather, or accident.


Where to Find Them

Of course, this may make you wonder where to find insurance salvage cars, and auctions are the typical venue. However, these are usually dealer-only auctions. But there are reputable websites through which licensed dealers actually bid on the cars you choose. This allows you to get full details about a vehicle and purchase it at a coveted bargain basement price. Also, benefit immensely from the salvage vehicles on the market.