Pros and Cons of Buying a Salvage Car

If you are in the market for a car or truck, there is a long list of places to buy used cars, trucks or even motorcycles. Instead of spending time going to car dealers where you will pay more or looking at cars on Craigslist where you have to go to the seller’s home, why not consider the large selection of vehicles on an online auto auction? Many businesses like car dealers, auto insurance companies, government agencies and financial institutions use car auctions to sell their inventory.

When shopping for your next vehicle, do not be afraid to check out the salvage cars for sale on the auction sites like Abetterbid auctions. You can buy salvage cars at ABB that can turn out to be a great deal for you.

Let’s look at why you may or may not wish to buy a salvage car at a salvage auto auction.

Pros of Salvage Autos

Fantastic Deals

Salvage autos have salvage titles, which means that the vehicle must be repaired to license and title it. Because its title says salvage on it, you can get a significant discount on the price of the car or truck.

If you have an eye for a deal and some mechanical know-how, you can save a lot of money doing the repairs yourself while getting yourself a new ride.

Good Condition

Many salvage cars have been considered a loss by insurance companies and financial institutions. That does not mean that the car is junk; it means that by traditional means, repairs cost more than the vehicle is worth to the bank or insurance company.

It is not unusual for an insurance company to salvage title a vehicle because an owner asked them to since they no longer wanted the vehicle. This can happen when the owner is not interested in getting it fixed. That does not mean that the car is as damaged as the owner thinks it is. It helps to know why the title has been deemed a salvage before bidding on it.

If you have mechanical ability, you might be able to fix it for a fraction of the cost that it would take others to fix. It is always possible that the condition is much better than the salvage sale may indicate.

Fast Sale

Since the bank, government agency, dealership or insurance company is out the money for the vehicle until it is sold, they are quick to complete sales. That means less waiting on your part before you have your new ride in your driveway.

Cons of Salvage Autos

Expensive Repairs

You might get your new vehicle home only to find out that the repairs needed are more extensive than you thought. That may make the vehicle better suited for the junkyards than your garage. You could always sell it as a parts car.

Salvage Title

Once a vehicle has been branded a salvage title car, it will always be a salvage vehicle. This may make it hard to get a loan on the vehicle. Banks tend to stay away from salvage title loans since they know they could not resell the vehicle for much money. It can also mean that the resale value is much lower than other vehicles should you want to repair it to sell it.

When deciding whether or not to purchase a salvage car, you must know what you plan to do with the car. The pros mean you will get a vehicle you can repair relatively cheaply and easily while saving money. The vehicle can go on to provide you with years of service.

The cons mean that the vehicle may never be worth the time and money you would put into it to repair it for use or to sell it.

Here are some online auto auctions where you will find a large selection of vehicles like salvage cars to choose from:

ABetter.Bid

Abetterbid Copart broker has been delivering the best wholesale prices on used and salvaged vehicles for over 10 years. They offer wholesale auctions to the public and have the largest dealer-only auto auction inventory online in North America, including cars, SUVs, boats, motorcycles and more. With over 200,000 vehicles to choose from, you are sure to find the right vehicle for you. They offer 100% online auctions where you do not need a dealer license to bid.

Birmingham Auto Auction

Located in Hueytown, Alabama, the Birmingham Auto Auction runs public auctions on the last Thursday of every month. You do not need a dealer license to bid, but you do need a valid driver’s license or State ID, as well as being at least 19 years old. There is no registration fee.

San Antonio Auto Auction

The San Antonio Auto Auction is a family-owned and –operated auto auction that opened its doors in 2010. It is part of the W Walker Auction Group, which has 30-plus years of experience in auctions for dealerships in South Texas. They offer fleet sales, heavy equipment sales and dealer sales. The public buyers must register and leave a deposit before bidding.

Charleston Auto Auction

The Charleston Auto Auction, located in Moncks Corner, SC, is an XLerate Group Auction that offers weekly Friday night runs, as well as special event sales. This is a dealer-only auction site.

Conclusion

No matter what you decide about buying a salvage car, it is always good to see both sides of the issue. If you research the vehicles before you go to the auction, take your time looking them over and ask questions about the vehicles, you can end up with a great deal.