Tips For Buyers of Salvage Cars
For starters, salvage cars or repossessed cars are defined as vehicles that are pegged by the insurance department as something that are too costly for repair and maintenance, and may not be deemed usable for road use if not fixed.
Salvage cars are the result of excessive wear and tear, or accidents. But that doesn’t mean that a salvaged car is practically useless because there are two other ways to use it. You can pry apart its parts and pieces so you could use them for another vehicle, or else, modify a salvaged car and customize it for your own use.
Extra care needs to be taken when making a choice to buy salvage car online, without due diligence you could cost yourself so much than you can afford. it is strictly recommended to employ the service of a trained specialized mechanics to help do the follow:
- Checking the vehicle’s frame for cracks and possible metal fatigue.
- Making sure all the vehicle’s air bags were replaced and are fully functioning.
- Making sure the wrecked car’s seatbelt pretensioners lock properly.
- Estimating potential repairs. This is extremely important. Why buy a rebuilt, used car that’s rebuilt for let’s say $3,000 when you may need to add $5,000 in repairs?
You may also consider these before buying:
- Car insurance. Some auto insurance companies won’t cover vehicles with branded titles. Those that do generally charge high premiums. Contact your car insurance agent for a quote.
- Many banks will not finance salvaged vehicles. Special conditions may apply including shorter terms.
- The vehicle will have little or no resale value.
- How do you intend on using the vehicle? Think twice if you plan on using the car for everyday driving. Or, at the very least, be in the financial position to afford unexpected car repairs.
- Also, take the time to order a vehicle history report. Even though the car was rebuilt, the history report will detail what caused the vehicle to be declared salvage – car accident, flooding, vandalism. This knowledge may not provide you with a piece of mind, but it will, at the very least, reveal if you’re dealing with an honest seller.
As a Seller of Salvage Cars, What You Should Know
Any seller can put up a salvaged car for sale, provided of course that you get it into the right forums. If you intend to purchase one of salvage cars, make sure that your source is a specially certified and licensed outlet, otherwise, you’ll be purchasing a useless lemon and you’ll have to make a run for your money too.
Now if you’re planning to sell your own salvaged car, then there are some things you need to consider before you do.
Try to check if your car has salable or still usable parts, and of course, assess them for any need for modification or repair.
After assessing everything, you can then post advertisements online or submit them for publishing for your local newspaper.
This entails that if you want to offer up parts per piece for sale, you have to mention all the good things that your merchandise have to offer so you can have a wider scope of potential clients who’ll come to you.
This also works for pre-owned cars if you’re planning to sell one for curators or hobbyists.
It’s a good thing to know that there are websites that cater to cars for sale, whether you’re selling brand new ones, pre-owned, and salvaged vehicles and their usable parts. You’ll have a better chance of getting in touch with buyers when you post your ads online on these websites since most people would just log on to the internet for just about anything. And since you can put up all the information that you need to sell out your salvaged vehicle, you’ll save a lot from advertisements too since they’re always free of charge.
There are more buyers and sellers online who are capable of responding to your merchandise and you can even solicit opinions from related forums too. Using virtual ads, you don’t just get to have more potential buyers and onlookers, but your salvaged vehicle is also exposed to various types of customers from all over the world.
Since you have all the advantages when it comes to posting ads online, you’ll have to complete all your documents so that your potential customers can check them out and validate everything before they purchase your vehicle. Make sure that you get permission to test drive the car safely if you have advertised that the vehicle is safe for use on the road.
Know your state’s regulations when it pertains to selling cars because these rules may vary from one state to another. A salvaged car that is deemed usable for the road call for a special permit to be driven, and it will be subject to further scrutiny by licensed professionals in order for you to advertise that your salvaged car is drivable.
Check out websites that advertise cars for sale because they have reliable traffic, and they’ll pave the way for you to sell your vehicle.
Provide pictures of your car, you can’t settle for descriptions because potential clients would want to take a good look at them. Sell all the usable auto parts per piece, especially if the overall price is too low for you to fathom.
How to sell your car with a salvage title
You may not know it but there are buyers who are attracted to salvage titles like moths drawn to a flame. And of course, selling a car with an intact salvage title is a more concrete, straightforward approach.
But there are a few things that you need to bear in mind before doing so. Basically, selling salvage cars is easy, but first, you should assess the title for the presence of liens.
Essentially, a salvaged car is a vehicle that costs unreasonable amounts of repair fees. So it’s better to sell their parts than the car as a whole. Get in touch with your DMV or the Department of Motor Vehicles on your state to start with.
Hire a representative who bears a Vehicle Identification Number, he or she will execute a lien search. If the car was on loan when it was damaged or declared salvaged, its insurance company will likely pay off the lien incurred.
You can consult the Kelley Blue Book for accurate car values and just to let you know; you have at least 20-70% chance of acquiring a clean title from a salvaged vehicle. Post your ads and once you have a buyer, negotiate a good sale. Interested buyers would usually offer you with a low price at first, but hold on to your price range and conduct a good negotiation. Most of all never put up a car for sale if it doesn’t have a clean title, otherwise, you’ll be subject to criminal prosecution.