Tag: salvage cars

Damaged Cars: A Financial Alternative

As the economy declines, more and more people are opting to buy a used car rather than a new one. The obvious reason for this is because buying a used car, as opposed to a new one, is a great way to save money. However, there are even better ways to save money when shopping for a car.

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One such way is to shop for damaged cars along with the used cars that you are looking at. Slightly damaged cars that you can fix up yourself or have repaired cheaply are the way to go if you are looking for cheap cars. A damaged car is a great car to get for a teenager who is just starting off driving. Even if you put a thousand or more dollars into the machine, you will still save a lot of money in the long run and if your teen wrecks the car it is not as big of a loss. Damaged repairable cars, along with the parts to repair them, can be found in almost every junkyard.

 

Finding just the right car can sometimes be a hassle, however with a little diligence it is possible to save hundreds or even thousands of dollars. An important tip if you decide to shop for repairable or salvage cars is to take a mechanic with you. By taking a mechanic, you will have someone there that can help you find a repairable car that he believes can be fixed up for a small price. Be sure to pay the mechanic for his time, even if he is a family friend. If it saves you thousands of dollars in the long run, it is the least you could do.

 

Another cheap alternative to damaged repairable cars are repossessed cars. Repossessed cars are taken to pay off debt and often are sold at a fraction of their market value. Because of this, it is sometimes possible to finds a great deal on a good car without having to pour extra money into fixing it up and putting it in working condition. Again, taking a mechanic with you when shopping for a decent repossessed car might not be such a bad idea. While shopping for a repossessed car, damaged repairable car, or even just a decent used car might be difficult and time consuming, there is no doubt that the savings are rewarding. With just a little bit of time and effort, it is possible to save thousands of dollars and still come home with a decent enough car.

Taking A Look At Salvage Cars As A Fix Up Project

A salvage car is one that an insurance company has written off as a total loss, but they are repairable. When a car receives this distinction from an insurance company, the title is completely canceled out – which means that according to the law, these damaged cars do not technically exist.

Many salvage title cars come into existence from accidents or other damage such as water damage. Some were brand new at the time of the accident that destroyed them and were sitting on the parking lots of dealerships.

For those who cannot afford a brand new car and are willing to put in a little sweat equity to rebuild a car, salvage car auctions offer a chance to have a drivable vehicle and a chance for the car to be resurrected.

Before you buy salvage cars for sale, it is important to evaluate how much work is required to make the car safe and presentable. If the cost of restoration is more than you would pay for a used car on a lot or from an independent buyer, it is probably not worth the investment — unless you have some sentimental attachment to the car or you need it specifically for salvage car parts that you cannot find anywhere else.

Be aware that some states require salvage cars to have “salvage” titles, while other states let dealers and owners establish a new title altogether. Some shady dealers will often move cars from a salvage title state across the border to a new title state and then try to pass the car off as one that has not been salvaged.

Do your homework; research the title and do as much research on the title as possible to avoid being duped about this. Checking with the National Insurance Crime Bureau or requesting a vehicle history report (like the ones offered by Car Fax) may help you determine the truth. If a car shows up on a Car Fax report, though, you may have some trouble selling it to other buyers.

Some cars end up becoming salvage cars after natural disaster simply because they are on a lot with other salvage cars. When the insurance adjuster comes to make a damage estimate, he or she cannot possibly inspect all the cars on a car lot. Therefore, the person delivers an estimate of how many cars on the lot are damaged, and they all get the designation as salvage cars.

Salvage cars that are not as damaged, but receive a salvage title could make rewarding project cars and save you thousands of dollars.