Wondering what to do if you’re not entirely sure what you’re getting yourself into? All you need is great tips for finding the best crashed cars for sale. Well, this article will give you more than a few pieces of advice on that matter.

Who Sells Salvage Vehicles

Apart from some car dealers, the biggest variety of salvage cars for sale can be found at salvage auto auctions, such as our website – BidExport.

This automotive sector has been booming. That’s because insurance companies write off more vehicles each year, mainly due to high repair costs. The process results in millions of salvage vehicles waiting to be bought. Good deals are waiting at these auctions for those who are willing to risk it and put in the work afterward.

Talking about risk, there are several things to have in mind when browsing for crashed cars for sale and bidding on some of them later.

What to Consider When Searching for the Best Salvage Vehicles Out There

There are many key points to consider if you are determined to strike a great deal on a salvage vehicle. The most important ones are listed below:

#1 Trust a Reliable Auction

Choosing a trusted auto auction with an immaculate reputation is crucial. Except for the probable good deal with no hidden secrets, you will have a wider variety of cars to choose from, too. Buying a crashed car from a dealer might turn into a nightmare, so check their background and any feedback if possible.

#2 Check the Market Value of the Vehicle You Are Interested In

In most cases, salvage vehicles are significantly cheaper than equal ones in perfect condition. The difference in their value in pre-accident or pre-theft condition is key, as it will determine your profit.

If you are looking to buy a salvage vehicle for yourself, this tip is equally important. Otherwise, you might end up with a crashed car at the price of a running one.

#3 Find Support from A Mechanic

Even if the particular salvage car you are interested in looks relatively good on the outside, nobody can tell what it’s like under the hood. You can buy the vehicle in the condition you see it, with no option for a test drive of a thorough inspection.

A mechanic might notice things that you didn’t, and you will know when to walk away and when to bid.

#4 Calculate the Repair Costs

Let’s assume that you are sure about what the actual damage of the vehicle is.

In this case, you need to make all the calculations about the upcoming repairs it would need to be road-legal again.

It doesn’t matter if you intend to sell it when repaired or keep it. You still need to know if placing that bid makes sense in the first place.

#5 Make Sure You Know What You Want, and Go After It

If you decide you need a certain crashed vehicle for its parts, for example, then buy exactly that. Set a budget and stick to it. Deciding to repair it and to get it back on the road would ultimately change the initial reason why you need to make that deal.

Salvage vehicles insurance is not exactly cheap, not to mention that not all insurers would agree to insure such a car in the first place. If you are after a crashed car to repair and sell on, keep in mind it needs to pass your local state’s DMV inspection. It gets retitled as “rebuilt salvage” after that. Needless to say, even a perfectly good vehicle in full order but with a rebuilt title is always cheaper than an identical one with a rebuilt title.

#6 Always Choose the Vehicle That Needs the Least Repairs

If you have the option to choose from a few different salvage cars of the same make and model, always choose the one that needs the smallest amount of work. Even if the price is slightly higher, you will end up with a better deal after calculating the repair costs.

If you have the chance to buy a vehicle that you could restore yourself, it’s best-case scenario, no doubt about it.

#7 Be Patient, and You Will Be Rewarded

Always try to wait for the perfect salvage car. Keep in mind that not all salvage vehicles for sale have been involved in some kind of accident or a flood, for example.

You could be lucky enough to come across a vehicle that has been previously stolen, with no damage whatsoever. A theft recovery vehicle would cost a lot less than its real market value simply because it was deemed a total loss by an insurer.

#8 Make Sure You Know All the Details

What would really help you to strike a great deal on a salvage car for sale is knowing everything about it in advance. If you know that it was flooded, for example, then you should definitely expect the unexpected.

Even if it looks brand new, you have no chance of knowing its mechanical state, not to mention the sometimes-devastating damage to electrical components. As suggested earlier, you need to assess the situation, and see if it is worth the risk.

#9 Calculate All the Additional Costs

We already mentioned the expensive insurance costs related to every salvage title vehicle. Repairing the damage will not wipe off the car’s history, and it will always be there. This means that its market price will be lower, and its insurance will always be higher.

There are, however, additional costs, such as auction fees, transportation, etc. Make sure you calculate those as well.

#10 Don’t Be Emotional About the Auction

Even if you happen to see the car of your dreams at an auction site, be careful and don’t place that bid too soon.

You don’t want to end up disappointed and frustrated when it turns out it is a total wreck that’s not worth saving at all. Do the math and if it all looks okay, then go with the flow and bid on it.

The Bottom Line

Well, there you have it: buying salvage cars requires some thought, calculation, and patience above all.

There are plenty of good cars out there, and you have a huge chance of either bringing home a bargain to enjoy or making a hefty profit after selling it to another. The choice is yours.

To facilitate your choice, we’d like to invite you to sign up at our website – BidExport – where 150,000+ salvage vehicles await you.

USE THIS LINK TO REGISTER AND GET YOUR DREAM CAR TODAY

The post 10 Tips for Finding the Best Crashed Cars for Sale first appeared on BID EXPORT.

Needless to say, those who understand the perks of buying salvage cars know what they are getting themselves into. If you want to know what are the pros and cons of buying a salvage car and investing in such, just keep reading further.

What Is a Salvage Title Used Car

Millions of vehicles end up with salvage titles each year. Some of them are beyond repair, but there are also many diamonds in the rough among them. To point out the pros and cons of buying a crashed car from an auto auction, we must explain what a salvage title is first.

Salvage title vehicles have usually been involved in an unfortunate event, such as theft, accident, flood, fire, etc. Needless to say, insurance companies are the main source of the millions of vehicles that are declared “junk”.

When the insurer’s calculations suggest the repair costs for a particular vehicle will be higher than a certain percentage (most often between 50% and 75%) of what the same vehicle is worth in its pre-damage condition, it ends up as a write-off. Auto repair costs are becoming higher, meaning that more vehicles are likely to be deemed a total loss in the following years.

Once the vehicle becomes a write-off, it is retitled as salvage and sent to an auto auction or to a second-hand dealer.

Note that different states have different definitions of what a salvage title means exactly. The reason why there is such a great interest in these auctions is the simple fact that many salvage cars for sale are either in near-perfect condition or they need minor repairs to become road-legal again.

The profit margin may not be bad at all, as there are good deals waiting out there. Still, buying a crashed car is not a walk in the park.

What Are the Pros of Buying Salvage Cars

When someone decides to browse crashed cars for sale, they are probably aware of the pros of such a purchase. Of course, not all cars will result in a hefty profit for the buyer.

This is what you can look forward to:

The Prices Are Often Unbelievably Low

Of all the advantages of buying a crashed car, this is the most tempting one. Most salvage cars for sale have a significantly lower value than equal makes and models with clean titles. The difference can easily reach a staggering 40%.

People who buy salvage cars need to make that comparison before placing their bid. Sometimes, you can find nearly intact vehicles with shockingly good prices.

Purchasing a salvage car in a running condition and with repairable damage for 30% of its usual value is a great deal, no matter how you look at it. A quick repair job might just be enough for the vehicle to pass state inspection and receive a rebuilt title.

There Is Room for Profit

Many people are looking to buy salvage cars with the intention of making them roadworthy and selling them for a profit. With a bit of knowledge about the second-hand automobile market and some patience, this could be a profitable side gig for everyone willing to do it.

Apart from selling repaired salvage cars, you could always part them out. Any car is worth more when sold in parts and finding the right model could also result in a hefty profit. Some car parts are rare and extremely expensive even when they are sold used.

There Is High Value Waiting for You

When scrolling through crashed cars for sale, you can be lucky enough to find a nearly intact car in need of minor or no repairs for a fraction of its usual retail value. It is not unlikely for someone to find such a deal. Theft-recovery vehicles regularly end up as write-offs just like the crashed ones and are often the best deals on salvage auto auctions.

What Are the Cons of Buying a Salvage Car

Picking one of the salvage cars for sale in front of you can have consequences. There are things to consider before doing it.

Here is what you need to know about the cons of purchasing a salvage title vehicle:

Salvage Vehicle Insurance Is Often a Problem

Most insurers will not insure your newly-acquired salvage car. The reason is simple: they would find it hard to distinguish any new damage done to the vehicle from previous damage.

Even if you manage to find an insurance company willing to provide coverage for a salvage title car, it would most probably be partial. The premiums for a salvage vehicle insurance would also be much higher compared to what you’d pay for insuring a clean title car.

The Salvage Title Becomes Part of the Vehicle’s History

In case your repaired salvage title car becomes road-legal again after passing the DMV inspection, it will receive a rebuilt title. The report would also reveal all previous damage done to the vehicle. In other words, the final price you can ask for a perfectly repaired vehicle with a rebuilt title would still be lower compared to a clean title car.

Unexpected Costs Can Ruin Your Good Deal

This is the most important reason why you should inspect a vehicle before bidding on it. There are many cases when salvage cars are in far worse condition then they seem to be. Looks can be deceiving: a nearly intact interior can hide a lot of damage under the hood.

You are always better off double-checking the car’s mechanical state if you have the chance to. Damage to the undercarriage or signs of severe flooding is what you should look out for. Even if the salvage car runs, it could still be nothing but a burden, and you could end up losing money.

What Are the Pros and Cons of Buying a Salvage Car – the Verdict

Wondering if buying salvage title cars is worth the risk? There is a simple answer: it depends.

Yes, it is always a matter of doing the math and checking the facts. If you think that a particular vehicle is worth the repairs and you could handle the additional costs, then simply go for it.

If you’re lucky, there will be no hidden damage and you could earn a profit. There are a lot of success stories, and this business looks nothing but promising.

If you’re ready to invest in your dream car for a fraction of the cost you’d pay for a normal one, then you should register on your website – bidexport.com. We have over 150,000 vehicles waiting for their new owner. Will that be you?

REGISTER HERE TO GET YOUR DREAM CAR

The post What Are the Pros and Cons of Buying a Salvage Car first appeared on BID EXPORT.

However, things have changed. Salvage cars are now the subject of interest for buyers across the globe. In the U.S., the salvage vehicle market is expected to pass the 200-billion-dollar mark by the end of the calendar year.

To explain this market’s growth in detail, we need to focus on what it means for a car to have a salvage title. Essentially, this is one of the possible title types issued to vehicles. In the majority of cases, salvaged cars have accident damage that is either repairable or beyond repair.

The scenario is always identical: when an insurance company needs to pay for repairing a vehicle nearly as much as it’s worth on the second-hand market, they choose to compensate the vehicle owner for the damage, and it’s immediately deemed a total loss. When this happens, the crashed car is either sold to a trader or it goes to auction.

Apart from accident damage as the most apparent reason, a salvage title may be issued to a vehicle that has suffered other kinds of damage caused by extreme vandalism, hailstorms, fires, floods, chemical contamination, etc. Stolen vehicles that have been retrieved eventually get a salvage title in cases when their previous owners have already received compensation by the insurance company. Later, they’re auctioned as well.

Are There Any Differences in Salvage Titles Across the U.S.?

Every province or state has the right to issue a salvage title to a vehicle using different criteria. They are almost always based on the extent of the damage or the number of repairs it would need to be considered roadworthy again. Some states allow for a salvage vehicle to be retitled with a rebuilt salvage title.

Regardless of whether you are interested in buying a salvage vehicle that appears to have no damage whatsoever, you should always be careful before making a purchase. That’s because there are many tricks in this business that only those with experience in the field are aware of.

What Is the Classic Definition of a Vehicle’s Salvage Status?

In the majority of cases, when an insurance company estimates that the repair expenses for an accident-damaged or a stolen vehicle will be equal to or will exceed 70% of its current value on the second-hand market, they simply write it off.

Of course, the exact percentage may vary, and it could even be as low as 50%. Based on the differences in this calculation, there are exceptions in which a salvage vehicle might not be deemed a total loss by the insurance company, but it might still end up at a salvage auto auction.

Here is the tricky part. Non-professionals most often assume that salvage cars are not worth the repair due to the high costs involved. Even if a salvage vehicle is drivable and running, it might still be declared a write-off. This explains the huge interest in this kind of auctions.

Those looking for a good deal at salvage auto auctions are likely to find it. All it takes is good preparation and patience. Keep in mind that all kinds of assumptions and prejudices will surely distant you as a potential buyer from striking a good deal when on the lookout to buy a salvage car.

What Is the Value of Vehicles with a Salvage Title? 

Needless to say, driving on public roads in a car with a salvage title would be illegal in most parts of the U.S. This is one of the main reasons why these vehicles are worth less than the ones with a clean title.

In order for the salvage vehicle to be retitled, it needs to undergo an inspection by road safety authorities. That’s definitely not a walk in the park. Many such vehicles would require time and money for repair work before they can be presented for inspection.

When it comes to the value of salvage vehicles, we should mention something important. The biggest valuation and automotive research private companies do not value cars with a salvage title at all.

In general, a salvage car is worth at least 60% less in comparison to an identical make and model with a clean title. What’s more, that same salvage car could actually have little to no damage. This means that buying it could be a really good deal, considering the significant difference in prices.

Unfortunately, rebuilding a car with a salvage title to pass all inspections and be roadworthy again does not mean that it will be worth the same as an identical one with a clean title and no damage history. After successfully passing through inspection, the car is retitled as a rebuilt salvage vehicle. Which means that it will become apparent that it had previous damage. These cars are worth at least 30% less than the identical makes and models with clean damage history.

Of course, things are very different when it comes to exporting salvage cars to other countries. That’s because they receive a clean title prior to leaving the U.S. In most cases, you can successfully register them in your country after you carry out the necessary repairs. Only a vehicle history report could confirm that they had previous damage.

Here is an interesting fact. Sometimes, a car with a salvage title can receive a clean title when re-registered in another state. The standards related to determining if a car should be titled as a salvage vehicle are not the same across different states.

What to Look Out for When Buying a Salvage Car?

The first and most important thing would be to check the damage type and extent. This is a must because it will determine whether the car is worth buying or not. As mentioned earlier, some cars may not appear to have too much damage to them. But they could be structurally compromised. So, a thorough inspection would be essential.  

If a vehicle has been previously stolen and later retrieved by the police, or it has been hit by a natural disaster such as a flood, for example, it all comes down to checking the particular salvage car’s overall condition again. Remember that even if you strike a good deal and buy a car with a salvage title that needs little to no repairs, you are not out of the woods yet. That’s because most insurance companies would likely charge a lot more for a vehicle with a “rebuilt damage” title than you might expect.

Are you interested in salvage cars for sale? Our website – Bid Export – offers over 150,000 vehicles for every liking.

Register here to receive the best deals.

The post What Does It Mean When a Car Has a Salvage Title first appeared on BID EXPORT.