Why are salvaged cars so cheap ?

    0
    451
    DWQA QuestionsCategory: Salvage Cars QuestionsWhy are salvaged cars so cheap ?
    adminadmin Staff asked 5 months ago

    Why Can You Find Really Cheap Salvage Vehicles For Sale?

    Have you shopped for an auto recently? You may have noticed some vehicles advertised at ridiculously low prices as “salvage title” merchandise. Why are salvaged cars so cheap? Should you consider purchasing one?

    The answer to this question depends upon your individual circumstances. Salvage title vehicles carry low prices for a reason: these vehicles possess a questionable history. Purchasers need to realize a car sold with a salvage title won’t command competitive prices upon resale. It may encounter expensive mechanical problems.

    About Salvage Titles

    State motor vehicle departments issue salvage titles after an insurer declare a vehicle a total loss, and someone rebuilds or repairs the remnants. Most of these cars and trucks utilize replacement parts obtained from auto salvage lots. If the vehicle can pass a state inspection to verify its roadworthiness, the DMV will allow the owner to obtain a new clearly marked salvage title. Drivers can obtain liability insurance for these vehicles, but will likely not receive much compensation from insurers for any property losses.

    Vehicles become salvage title properties for a wide variety of reasons. Any event which impairs mechanical performance, from a collision to “chop-shop” vandalism, may render an auto suitable for salvage. Just consider some of the most common occurrences resulting in the declaration of a total vehicle loss:

    Auto Accident Damage;
    Hail Damage;
    Flood Damage;
    Theft Damage (in eleven states).
    The Pros And Cons of Salvage Title Vehicles

    Salvage title vehicles typically sell for significantly less than comparable makes and models with non-salvage titles. They attract reduced prices upon resale. However, car buyers with limited purchasing budgets who do not anticipate extensive travel may choose to consider these rebuilt vehicles.

    Useful Resources:

    1. https://www.edmunds.com/car-buying/what-is-a-salvage-title-vehicle.html
    2. https://www.dmv.org/buy-sell/used-cars/buying-a-car-with-a-salvage-title.php
    3. http://www.insurancesalvageseller.com