What is Salvage title?

What You Should Know Before Your First Salvage Dealer Auction

By Mike Richards Posted: 09/21/2017

Are you thinking about buying a vehicle through a salvage dealer auction?

If so, you might be worried about the experience. After all, isn’t this when dealers just try to offload all of their utterly unsellable vehicles?

Below, we’re going to address that misconception and further help prepare you for your first salvage dealer auction so you can make the most out of this promising opportunity.

For Best Results, Only Do Online Auctions

Obviously, we’re a bit biased here, but the benefits of online vehicle auctions seem very clear.

When you attend one in your area, you’re going to be greatly limited by what’s available. As a result, you may easily end up in a bidding war for a vehicle that would otherwise never grab your attention in the first place.

An online salvage dealer auction will provide you with a huge selection, meaning lower prices and more options to choose from; it’s a win/win.

You Don’t Need to Settle for a Junker

As we mentioned at the beginning, there’s a common misconception that the vehicles at a salvage dealer auction are utter junk and hardly worth whatever you pay.

To be fair, you can definitely find plenty of vehicles at these auctions that aren’t good for anything but spare parts.

At the same time, you’ll also see a number that are there because a lender took possession of them after their previous owner listed them as collateral. Now, they’re just looking to sell them to make back some of their money.

Other vehicles are taken by law enforcement because they played a role in a crime. Neither case means that there is something inherently wrong with the vehicles.

Even when there is, it’s still worth thinking about what your ultimate savings could be. You might find that the price for repairs is actually affordable enough to justify the purchase.

You Will Need to Do Repairs

That being said, it’s important to understand that if a vehicle has the legal designation of being a “salvaged” vehicle, it will need to be repaired – whatever that might entail. This is a legal requirement you can’t afford to skirt.

Fortunately, for many of you, this is something you can do on your own. It doesn’t matter how it gets done so long as it gets done.

Of course, that does mean you’ll have to arrange for having your vehicle delivered either to your home or to the mechanic who is going to help you.

Look into Insurance First

Finally, before you make a purchase at an online salvage dealer auction, check to make sure you won’t have any trouble arranging insurance coverage. Obviously, this is required to drive the vehicle.

However, if you wait to speak with your insurance company until after you’ve made your purchase, you may find out that they want nothing to do with it. Even when it’s undeserved, salvaged vehicles tend to carry a stigma with them.

Hopefully, the above has made you feel a lot more comfortable about purchasing a vehicle at a salvaged car auction. If you have any questions, you can always contact us and ask them.