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The Psychology of the Live Auto Auction: “S,” Social Proof

In this series, we have been examining the live auto auction environment, the inspiration for our business. We spoke about the pulsing, tense frenzy of the auction floor. In the last post, we discussed what happens when a buyer bonds with an item at auto auction. He defends it as if he already owned it, and there is a horde of thieves lined up to take it away. The business of RideSafely – Auto Auctions evolved from our deep understanding of the auction environment, so we are able to present your inventory in a way that a buyer will step up with the sense of endowment, claim your vehicle, and defend it. Read more

Why Would You Want a Salvage Car Over a Used or a New Car?

First of all it is economical. Let’s get real: when appraisers estimate the cost of fixing a salvage car according to all their scales and standards, they use the original factory rates. Those, my friend, are high because they match the price of a new car. Do you know how to fix cars or know a good place with good prices? Of course, you do! Then why spend anywhere close to that sum?

Now think of the way the lease works. You pay every month for the car, but at the end you have to either give it back or pay the rest of its original price. Here, you get a car for very cheap, restore it and get an awesome vehicle for a very small sum. How small? Just recently a 2012 salvage BMW 328Xi Coupe was offered for $5,900. Even after you invest some money into repairing it, you still save enough to pay for many months of mortgage, an anniversary present to your precious half and a vacation!

Then you can either keep it or sell it for a much higher sum.

  • Why doesn’t everybody do it? – Because, just like you, they have not yet learned about this opportunity.
  • You know good places? You got good hands? Maybe you already have your own developed infrastructure like a repair shop? – Then this is definitely something you should consider.

We say consider, because it has to be a careful, knowledgeable, thought-through decision, which we can definitely guide you through. Take a look at the full financial analysis so you can get an idea (The Best Selling Vehicles on RideSafely.com). Learn the market, the auto auction, and the cars, and you can even make a very good business out of it.

You can try with one, sell it, discover that sales gene in yourself and start making really good money.

Another reason is having power to make your dream come true. Remember our first blog? (Dress to Impress and Drive to Thrive) Gentlemen, you all want to be that guy. Ladies, you all want to be those girls. So, why not be? You are probably thinking that I need to get a taste of reality, and that the country is in crisis, and that you have mortgage, college loans and a second half whom you need to spoil. I understand, but salvage cars make those dreams possible without harming your financial status. You can even get a Ferrari, a Lamborghini, a Porsche, any one of those beauties, for a price of a used Nissan. Tempting? We thought so. We are not throwing empty promises at you.

You share your dream with us and we guide you towards it.

salvage cars auction

Salvage cars auction

Salvage cars can also be a creativity outlet. For those who love custom made cars, the salvage car is a way to go. There is no point in buying a new car if you want to rearrange it like a Lego puzzle. Maybe you want an antique car. They’ve got those, too! Maybe you want to make a replica of a car from your favorite movie? It is all possible! It just makes no sense to ruin something in order to create something. It becomes a very expensive project. You know the art of fashion design or jewelry making? You know how many of those designers started? By taking old pieces, adding new attributes, getting rid of unneeded details and making masterpieces come out. Same with salvage cars!

Take a look at this article to see more reasons to buy a salvage car.

Now you know what salvage cars are. However, knowing what they are is not enough. You have to know the steps to making this purchase a success. Choice is very important. You have to know what you need this car for. Do you need it for extreme sports like stunt riders who modify and crash their bikes, racers who deep-tune their vehicles, or off-road drivers who are not even concerned about the car’s appearance or missing parts? Do you need it as a family car? Do you need it for a collection piece? Know its purpose before you make a choice. Do not get a car with wheels and a working engine when you are planning to implant a new engine or new wheels.

Do not look for an unharmed roof, when your dream car is a convertible. It will be a waste of your money.

Do not concentrate on choosing the car that appears to have the least amount of damage, choose the one that fulfills your specific needs or your project. It will save you a lot of money. Analyze the risk factors. You save because you risk, but make sure you minimize your risk by making a careful choice. You only get ten pictures (see example) and a minor description of the condition. Some damage is obvious, but some like theft or flood is very unclear. Some damage, like undercarriage, is also unclear but is often the fastest to fix. You have to get a feel for the car before you get it. Take a look at the same car but new. Notice the differences. Assess them. Just recently dozens of cars with average price of over $100K were purchased for under $20,000, but you have to understand what you are doing before you make that purchase.

Be a smart buyer. We want you to be a smart buyer, because then you will come back to us again and again. Search car auctions »

“I put a dollar in one of those change machines. Nothing changed”
— George Carlin

You on the other hand have power to change something.

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Salvage Car Auctions – Earn As You Learn

First, let us tell you what we do with salvage car auction. Don’t worry, no long biographies, dates and impossible to spell names. We will just share with you our purpose. You know how there are salvage car auctions? Back in the days they were only open to car dealers. Today they are open Read more