Buying a Salvage Car

Buying salvage cars is not for everyone, but if you want to put a little time into it, you can really get a great deal on a high-end car. Think of it like buying a fixer-upper home. The home may be in the perfect location and the right size, but needs a kitchen remodel and an upgrade to the landscape. If you are handy with tools, you can give it a go yourself and in time you will get it looking really nice. You could also higher a few contractors and have it in tip-top condition before you even move in.

Salvage cars work the same way. You may not be able to afford a brand new Lexus SUV, but you can a salvage title Lexus. If you look for a vehicle that has mainly body damage and minor engine repair, after a few days at the shop, you could have a vehicle in tip-top shape.

Maybe you are the do-it-yourselfer. Then salvage title cars are just for you. You can get excellent deals on cars and feed your addiction to cars by fixing it up. You can even get parts from your dealer or from a local salvage yard.

Can you get it re-titled?

Yes, each state has its own salvage car rules and regulation. Check with your local DMV for the process to re-title your salvage car.

Things to Look for when Buying Salvage Cars

Obviously the less damaged the car is the easier it will be to fix, however, the more expensive it will be. You want to look for vehicles with body damage and preferably in the backend. Do note, that any car that has been in an accident will most likely need engine repair. The jolt from the impact often shakes parts loose and possibly damages them.

Often you will find repo or theft recovery vehicles. These are good deals since the damage on them can be very minimal.

In any event, a salvage car can allow you to buy a luxury or exotic car at the price of a used Honda, but buyers beware. You will have to invest in repairs, and just like remolding a house, you can run into unexpected problems.

Auto Insurance for Salvaged Vehicles

Any vehicle that has been previously totaled (the repairs cost more than the value of the vehicle) and then returned to a safe, operational condition is considered salvaged. Most often, it is not immediately apparent whether a vehicle has been salvaged without checking the registration. It is, therefore, important when shopping for a used vehicle, to do a thorough check of the registration and check for mechanical signs of repair. When insuring a salvaged vehicle, there are a number of things to consider.

To begin with, consider if the vehicle is safe. Many salvaged vehicles are repaired by part time mechanics at privately own garages. This can create a number of safety concerns when the vehicle is in operation. It is important to double check all work done to be sure proper parts have been used and no short cuts taken. It is also important to never drive a vehicle that has parts installed which were meant for another year, make or model. If you are involved in an insurance claim and it is found out that improper parts were installed, they may deny the claim if they determine these incorrect automotive parts was the cause of the claim.

Moreover, consider that most auto insurance companies will only pay half the fair market value on a salvaged vehicle in the event of a claim. This is a somewhat controversial practice, but lawful. If a vehicle is salvaged, that means it has been totaled in the past. This is because the fair market value of the vehicle has been compensated at least once already and should not be again. Insurance is not meant to overcompensate or improve the financial standing of an individual, it is meant to bring them back to even when faced with a loss.

When purchasing a vehicle with a salvaged title, it is important to first consider the overall mechanical integrity of the car, as failing to do so can result in an insurance provider refusing to pay a claim. If improper parts have been installed on a vehicle, or if inadequate work has been done to restore a salvaged vehicle, it can cause problems when purchasing insurance or when filing a claim. Secondly, it is important to consider the way in which insurance companies offer insurance for salvaged titled vehicles, as it can be different from insuring a car with a clean title. As salvaged cars typically cost less, and are generally worth less, insurers deal with them in a different manner.

Salvage Cars Auction – Get the Best Deals Out of Salvage Cars

Looking for a car and wanting to have a good deal? Salvage car auctions may be the thing for you. But before you barge into salvage auto auctions, there are things that you ought to know and be aware of. While car auctions may be the place where you could transact cars at low prices, there are also pitfalls for those who are not familiar with bidding at auto auctions. What is a salvage car auction, anyhow?

Most cars that are brought to salvage car auctions are those taken from insurance claims. Usually, when a car gets involved in an accident, the insurance company evaluates the damage, if repairs go beyond the value assigned by the insurance company, then it is sold to salvage car auctions.

How to Get the Best Vehicle Deal

o Auto Preview. Prior to the auction date, auto auctions usually grant a preview period where buyers can inspect the unit’s condition.
o Bidding. You will be surprised seeing more auto dealers at the salvage vehicle auctions. You need to pay on the spot, when you win on a bid.
o Locating Auctions. You will find various advertisements in magazines, newspapers and even online. Some sites may even let you bid online.

Because very few are aware of vehicle auctions, many auto dealers are happy with that fact. Second-hand dealers buy used vehicles at the auction, refurbish and revamp them, then sell them at a higher margin of profit. They can actually bid for the item of their choice at higher prices because they have higher buying capacity. And they also know how to examine the car. Most car buyers would not take the time anymore looking at these used cars because they tend to be skeptical and would opt for a new one instead. So if you are really intent on getting the automobile of your choice, shop for one now at salvage car auctions.

Getting a Used Car from Government Auctions

Potential car buyers may also find a good deal going to seized auto auctions. Cars seized from drug dealers, which are usually posh and luxury cars, are being sold to the public by the government in its effort to reduce storage costs for these cars. And what’s even better is that they are sold at big discounts off. In this manner both the government and the buyer are benefited. Cars sold at government car auctions are a real gem.