In recent years, there has been an explosion of online car auctions. However, one of the most misunderstood aspects of online auto auctions is salvage cars.
Many people, especially those new to the concept of online car auctions, believe that salvage cars are totaled cars, are worthless, and are totally unfit to go on the road. Although some salvage cars have been in disastrous collisions, this is not always the case. Even though an insurance company may have deemed the car a total loss, some vehicles with a salvage title come in a surprisingly good condition. These vehicles may just have extensive cosmetic damage, may be repossessed, or impounded by the police.
Below are some of the reasons why you should consider bidding on salvage cars online.
The biggest reason why you should buy a salvage car is the low cost. Although some salvage cars are in very good condition, their price is very low compared to new cars or even some used cars. If you want to buy an amazing car, look for theft recovery salvage cars, which have been reported stolen by the owner and then recovered, but only after the insurance company has written them down as a total loss. These cars are mostly in good working condition, although some may have their components stripped, and you can buy a salvage car at a fraction of the cost you would have to pay for a new model.
A lot of salvage cars that have been declared a total loss may have several components in perfect working conditions. These cars are often those which have received extensive but superficial damage on their bodies or the damage has only occurred in the back of the car, leaving the front unharmed. For DIY car repair enthusiasts, such cars are a treasure trove of spare parts and you can buy them literally for pennies on a dollar. This is one of the most affordable ways to get certified and legal spare parts for another vehicle.
If you have kids who are learning to drive, they will need something to practice on and it is expected that they will give your vehicle a few dents. Instead of handing over the keys of your shiny new car to your enthusiastic young driver, you can consider buying a salvage car which your kid can use to learn how to drive properly.
A lot of people love to tinker with cars at their homes and these people know how expensive it is to buy spare parts from auto dealerships. In fact, some spare parts can cost you even more than what you can pay to buy a salvage vehicle! A salvage car is a good option for these car enthusiasts as they come with a lot of spare parts, including intact safety equipment like side airbags. These vehicles are ideal if you like to spend long hours working in the garage.
Reselling for Profit
As mentioned above, a lot of salvage cars only have cosmetic damage while all their mechanical working parts remain in good condition. For a person who knows how to do some DIY auto fix-ups at home, this can be an opportunity to earn some money. You can buy a salvage car, fix up the superficial damage, and then sell it again for a profit. This is a very popular practice and can result in hundreds if not thousands of dollars worth of profit.
In many developing countries, when buying a salvage car, locals do not have any guarantee if the vehicle is reliable and will be able to work. That is because of a lack of regulatory authorities in these countries. As a result, they may have to go without a car as buying a brand-new one can be prohibitively expensive. If you have any such family members, you can buy a salvage car from an auction, repair it and send it overseas to your relatives.
Don’t Have to Deal with Salesman
A lot of people are wary of dealing with salesmen as they cannot determine whether he has an ulterior motive for selling a particular car. If you are buying a car from an auction, you don’t need to worry about any pesky salesmen. The bid is placed online and all you need to do is wait until the auction is over.
Rare Classic Cars
Online auctions are one of the places where car collectors often find rare and exotic classic cars. Although these cars may not be safe enough to take on the road, their exterior is often in very good condition and they are great for show value. Hence, salvage car auctions are great sources for landing yourself a gem.
Now that you know all the great reasons for buying a salvage car, it is time for you to start bidding. At RideSafely.com, you can even bid on cars from Copart auto auctions.