An online car auction is a very convenient way to buy cars online at a price that is significantly lower than that of a new car bought from a showroom. Although these auctions are quite popular, there are many people who view bidding on salvage cars online with skepticism.
One of the reasons for this distrust is the myth surrounding salvage car auctions.
What is a Salvage Car?
Depending on the state in which you live, a car can have the salvage title for many reasons. In general, a salvage title is given to any car which has sustained damage worth more than 75 percent of its value. Some states also call this a junk title. However, as mentioned above, requirements for a salvage title vary from state to state.
For example, vehicles in Minnesota are considered salvage if they are deemed a “total loss” by the insurance company, the damage is worth more than 80% of its value, the vehicle is six model year or newer, or was worth at least $5,000 at the time of the accident.
Learn more about what a Salvage Title actually is?
Bidding on Salvage Cars Online Is Complicated
This is one of the most pervasive and easiest myths to debunk. Some people believe that newbies cannot buy salvage cars from online car auctions. However, any reputable online car dealership knows that the only way to get an edge over the competition is to make it auction process simple and smooth for the customers. The best online car auctions offer professional customer service that aims to attract beginners and help them through the auction process.
Salvage Vehicles Cannot be Fixed
Another big misconception is that salvage vehicles are essentially only good for salvaging a few of their working parts. However, that is not entirely true. The condition of a salvaged car depends on the extent of its damage. For example, cars that have been subjected to fire and flood damage may need a lot of extra effort and cost to make them suitable for the road. In case you do this, their salvage title will be changed to a rebuilt title after an inspection. They can then be driven on highways.
In contrast, cars that have been deemed stolen and have been recovered also often end up on online salvage car auctions. These cars may not have been damaged at all, and are often in very good condition.
Online Car Auctions List Only Totaled Cars
Many people believe that online car auctions only sell cars that are completely totaled or lemon. However, as mentioned above, that is not necessarily the case. Not all salvage cars are irreparable and our online auction lists cars that can be fixed, have been repossessed, or have been impounded by the police. Old police vehicles in surprisingly good condition also make their way to online auctions.
If you want to know about how much damage the vehicle has sustained or how many times it has changed hands, you can find out its history through Carfax by using its Vehicle Identification Number.
You Can’t Find the Salvage Car of Your Choice at Online Auctions
Most people believe that online auctions have a very limited inventory of cars; however, nothing could be further from the truth. Online car auctions are very organized and have an inventory of tens of thousands of cars. If you have any preferences, you can let the customer service representative know and they can look in the system and locate the car for you. Alternatively, you can also find the car of your choice by the simple search features offered on online car auctions website. Either way, finding diverse cars is a very simple process.
You Won’t be Allowed to Inspect Salvage Cars
This is another common myth. Most online car auctions have their own mechanic that can assess the car for you. However, if you want to bring in an independent, neutral car inspector, you are welcome to do so. If it is possible for you, you can even visit the car inspection site before you place a bid for it on the online auction. Regardless, the online car auction company will definitely send you photos of the interior and exterior of the car from various angles, if you request them.
Salvage Cars Come at Throwaway Price
It is true that the price of salvage cars is greatly reduced as compared to a brand new model. However, believing that you will be able to buy vehicles for pennies on a dollar is an unrealistic expectation. As mentioned before, many salvage cars are in very good condition and hence their prices are higher, though far less than new cars. Hence, before you start to feel cheated, try to learn why a certain car comes at a certain price.
Buying a car, whether a salvage car or a newer model is a significant investment and you need to make sure you make the right decision before you buy them. It is best to do your research thoroughly and get your car inspected so that you do not encounter problems in the future.
For any questions about salvage car auctions, visit us at www.RideSafely.com.