No one wants to pay more than they have to for any goods. It would stand to reason that customers would especially try to pay less for cars since it is one of the biggest purchases in one’s life.
Why is it becoming so popular to purchase a vehicle at a salvage car auction? Of course, the biggest reason people buy salvaged cars at an online car auction is the thousands of dollars one can save by buying cheap cars. Another reason buying salvage cars is so popular is that you are able to get your hands a little dirty as a project in getting the car back to roadworthiness.
Salvage cars for sale are not all sunshine and rainbows, though, and consumers need to be prepared as well as possible before deciding to purchase a salvage car at an online car auction. There are many things to consider so you do not get in over your head.
We have done the research for you, so just sit back, read on, and find out how you can benefit from the sudden popularity of salvage cars.
What is a Salvage Car Auction?
What Does Salvage Mean?
Every day, cars are involved in accidents and weather incidents that cause the insurance company to declare the vehicle a “total loss.” What that means is that the auto insurance company has determined that it would cost more to repair the car to its original state than the car is worth or that the car cannot be repaired to the state it was in before the accident.
Some cars may be declared a “total loss” because of some simple bodywork that needs to be done and the insurance company does not deem it worth repairing. Another reason cars may be declared salvage is that the number of claims is incredibly large and it is hard to do really thorough inspections on all of the vehicles and the damage that they sustained.
Because there is such a wide range of reasons why cars may be sold at an online car auction, it is incredibly important to do as much research as possible. You can end up with a car that has some easy repairs that you can do yourself or you may end up with a car that has damage that would make it exorbitantly expensive to fix and you lose money.
Some salvage cars end up at junkyards and could be a great idea to use for parts or to repair and drive. These junk cars can be a virtual treasure trove of parts for your salvage vehicle project or selling the used parts offline or online.
Where Can I Buy a Salvage Vehicle at Auction?
Buying a salvage car is not as easy as walking into an auto store, picking out a car, and driving away after paperwork. Typically, these cars are sold at an auction. Various companies handle cars and bids for your purchase.
There are several websites online that host auctions for salvage cars and trucks. You can also find in-person salvage car auctions as well and some auctioneers do both live and online. There are some organizations like Copart that have thousands of different cars to choose from every week and there are some companies that have very specific focuses.
Hemmings is well known in the automotive industry as a leader in classic cars and parts. Their auctions are typically held both online and in-person to give you maximum flexibility. If you are in the market for a 1967 Firebird convertible or 1957 Chevy Bel Air, Hemmings is the place to look. Although they do not specialize in salvage cars, Hemmings sells some beautiful classic cars for those with the inclination to invest in a vehicle that should appreciate over time.
Columbus Fair Auto Auction
Columbus Fair Auto Auction, CFAA, is located in Columbus, OH, and sells mostly late-model used cars. They hold various different auctions that have vehicles of varying conditions and history. With a different auction every week, there are bound to be vehicles that will pique your interest. One of the great things about CFAA is that they do a detailed inspection of every vehicle so you can be armed with as much information as possible before bidding.
A Better Bid has over 300,000 vehicles for sale daily, featuring clean, salvage, wrecked, & repairable cars, trucks, SUVs, motorcycles, boats, and more at wholesale prices. ABB are registered Copart brokers giving you access to wholesale vehicles that are typically only available to dealers. It is free to register and you can sit back and bid on cars from the comfort of your own couch.
Dealers Auto Auction of the Southwest
DAASW is located in Phoenix, AZ, and has been selling cars for 20 years. While they are mainly focused on wholesale business customers, you might be able to find a way to purchase a car here through a dealer with a license. Most of the vehicles are dealer trade-ins, so you might be able to find some great deals on cars that do not require much work to be perfect.
Salvage cars are gaining popularity because customers recognize the tremendous value they represent. Most people who purchase a salvage vehicle are looking to do at least some of the repair work on their own, making it an educational experience as well.