The Purpose of This Website:
The purpose of this website is to educate consumers on the pros and cons of purchasing a salvage title car. The links on the left will go into more detail about all the different types of salvage cars. There are a lot of myths and rumors out there about salvage cars, and this website will go into great detail about what salvage is and is not, what it means to a consumer, what types of salvage to avoid, and what types of salvage can actually be a good investment.
What Does Salvage Mean?
Most of the time when a vehicle is paid off by an insurance company it receives a "total loss certificate". This can happen when a car is wrecked, stolen, flooded, or repaired after a minor accident and the owner rejects the repair. The term "totaled" comes from "total loss", a term that insurance companies use when dealing with these types of cars. It is important to understand the different types of salvage cars out there. Some can be really good; others can never be the same.
Should I Buy a Salvage Car?
A lot of people shopping for a good deal on a car often come across a really good deal on a car that is priced much lower than any others in the market. Typically these deals are going to be salvage cars. If a consumer is smart about their purchase and finds a good deal on a salvage car that was not damaged too bad, or was simply stolen and recovered with no damage they could save thousands of dollars. At the end of the day all cars are depreciating to zero, so a lot of times it makes sense to start as low as possible to minimize your losses on depreciation.
What Should I Beware of When Buying a Salvage Car?
If the car you are looking at was previously damaged and repaired, pay close attention to the panels on the car. Do they all line up properly? Are the gaps on the front end equal on all sides? Do the doors open and shut properly? Open the hood and inspect the inner fender lines. Are there any signs of damage anywhere inside the engine bay? Do the strut towers look like they have been fixed or do they look original? If it was previously stolen and recovered there is usually little damage, and these are typically some of the best salvage cars to buy. If the car was involved in a previous flood, check the cigarette lighter and make sure there is no rust inside of it. This ensures the water level was low and probably did little damage. For more detailed information on the things to look out for when buying a salvage car click the links on the left hand side of the page.
What About Re-Sell Value?
A common misconception is that people lose a lot of money when re-selling a salvage car. The thing to keep in mind is what you paid for it to begin with. For example, if you saved 30% on a salvage car when you bought it, discount it 30% off of retail when you sell it. Many people have discovered that the same motivation that existed for them to buy a salvage car exists in consumers everywhere. The need to save money is probably consumers #1 priority. If they can do it on a good car that runs and drives fine then the problem is often solved. When you purchase a salvage title car, however, you must make sure you are not paying retail for it. If you do, when you go to re-sell the car you will lose thousands. Making sure you are back of wholesale, or low book will make it easier when you go to sell the car in the future.