The world of salvage auto auctions is growing bigger by the minute, and there are more than a few reasons for that. Many people are beginning to realize that they can find the deal of a lifetime there! When you know what you want, and you are familiar with all the small details that matter the most, then all you need is some luck and patience.
If you’re searching for repairable salvage cars for sale, you’ll be glad to know you are exactly where you want to be. Apart from offering the best deals on salvage vehicles, we always strive to provide our clients with valuable information on how to find the best salvage cars for sale and what to look out for before placing a bid or making a purchase.
How to Choose from the Endless Supply of Repairable Salvage Cars for Sale
There are things you need to understand before diving into the ocean of salvage auto auctions. First of all, a salvage title does not necessarily mean that a particular vehicle has been severely damaged. Many salvage cars have little to no damage at all. These are mainly theft-recovered vehicles.
Sometimes, insurance companies write off cars with minor damage. This happens when the repairs needed cost half or more of what that said vehicle is worth in its pre-accident condition. As a result, cars in need of some paint and polish end up as salvage title vehicles.
Buying a Salvage Car for Yourself
If you’re in this with the idea of buying a car for a fraction of its market price, and using it as your daily driver, then you should follow a certain strategy.
You need to aim for vehicles that require the minimum amount of work possible. This would give you the chance to repair the vehicle yourself, which would save you most of the extra costs salvage vehicles usually require.
Apart from setting a budget and sticking with it, you also need to make some additional calculations. The repairable salvage cars for sale found at auto actions are 30% or 40% cheaper compared to the used vehicle market. Sometimes – even more.
This, of course, does not guarantee a profit. You need to assess the damage of a particular salvage car before placing your bid. Needless to say, such a process is almost impossible, given the fact that you are not allowed to thoroughly inspect the car even if you are physically present at the auto auction.
Since the majority of bidders and buyers are online, their only hope is for the description and pictures to match the real condition of the vehicle. This is where we come in: our inventory has been selected and you can expect zero bad surprises.
Buying a Salvage Car and Making a Profit from It
In case you are interested in buying repairable salvage cars to resell them afterward, then many of the above-mentioned tips apply here as well. There is, however, additional pieces of advice we need to give you.
Repair costs are key in this equation. If you manage to purchase a vehicle with minor damage for, let’s say, 50% of its value in good running condition, then you can score big time! Repairing it and passing the state DMV inspection to retitle the vehicle as “rebuilt” is what you need to do.
Keep in mind that you will never be able to delete the vehicle’s history. Its report will always reveal previous damage. You will never be able to retitle it with a “clean” title, either. This would ultimately affect your selling price, but you should not worry about it too much.
If you have played your cards right, you will always make a profit and find a buyer who wants to pay less than the regular price for a vehicle in full working order.
What to Look Out for When Browsing Repairable Salvage Cars for Sale
There are some things you should do before leaping into action.
First, make sure you are aware of the vehicle’s full service and accident history. The documentation will give you valuable information about your purchase and possibly answer some questions you might have in advance.
Second, try to find someone to consult before bidding. Even if you don’t have the chance to inspect the vehicle personally, an experienced mechanic might notice something wrong with the vehicle by looking at a few pictures. This would save you from purchasing the wrong salvage car.
Some people buy heavily damaged cars for low prices and spruce them up to make them look good. The vehicles then go to an auction for a significantly higher price and some unsuspecting buyer becomes the victim. This is what you get from trusting a random auctioneer.
Here is another tip: always be aware of the type of salvage before placing a bid. Not all salvage cars are worth repairing, as there’s more than meets the eye sometimes.
If the vehicle you are interested in has been flooded, for example, it might look as good as new. Despite that, the repair costs of such a vehicle could turn out to be unreasonably high. Flooded vehicles often hide far more damage than expected. Given this fact, you should walk away from them even if you think it would be a good deal.
The Verdict – Are Repairable Salvage Cars for Sale Worth It
Salvage auto auctions can bring a hefty profit your way, but you need to choose wisely and bid only after you’ve done the math, instead of being emotional about it. Here are the steps to follow:
- Set a budget;
- Trust a proven auto auction;
- Check the full history of the vehicle;
- Try to assess its exact mechanical state;
- Make sure it is repairable;
- Calculate the costs of all the repairs it would need;
- Be aware of the vehicle’s current value on the used auto market;
- Add the costs of transportation and insurance to the vehicle’s final price;
- Be patient and hope for the best.
So, there you have it! Even if you have absolutely no experience with repairable salvage cars for sale, you are likely to strike a good deal if you stick with these steps.
We hope you land some great deals! Get started today by registering on our website – bidexport.com – where you can browse through 150,000+ cars.
