Repairable salvage vehicles and insurance write-offs from auto salvage companies may prove to be instrumental in letting you buy your dream car at an affordable price. Want to know how? You can sign up with a reputed auction portal or visit an auction yard to make this possible. You can even purchase an accident-damaged repairable car and get it restored. To help you land a profitable deal, this guide helps you understand the intricacies of buying accident damaged repairable cars for sale through auto auction websites.
Write-off Vehicle Categories
Insurance companies make an assessment of the vehicles that get damaged due to fire, theft, accident, flood or vandalism. They verify each claim and make an estimate of the potential repair cost of the damaged cars. If the cost of repair exceeds the original market value of the car, the insurance company declares it as a “total loss” or “totaled.”
Subsequently, the insurance company categorizes various accident damaged cars by labeling them as CAT A, CAT B, CAT C, and CAT D. These categories indicate the type of damage and the way auto salvage companies need to dispose of them. The company, for example, is likely to crush CAT A vehicles because they are the worst of the insurance written-offs. On the other hand, CAT B vehicles too are not repairable, and they are sold as spare parts.
CAT C or CAT D Repairable Cars
Insurance companies may insure “CAT C” or “CAT D” damaged repaired cars that have already been written off. They, however, charge a higher premium for these write-off categories. If you wish to get insurance for your accident damaged car, you need to inform the insurance company about its write-off category. Additionally, ensure that a professional mechanic repairs the accident damaged car. A quality repair service increases the chances of getting a damaged repairable car insured.
Inspection of Damaged Cars
Well-qualified and experienced assessors thoroughly check CAT C and CAT D damaged cars. They possess the required knowledge and skills to restore these cars. Restoration of accident damaged cars makes them roadworthy. A detailed mechanical assessment before buying repairable salvage cars is crucial for your safety when they hit the road.
Total Cost of Ownership
If you buy a CAT C or D write-off car and get it repaired with the help of a mechanic, it may prove to be a great deal due to the low-cost factor. These damaged, repairable cars are often get sold under their current market value. It is because insurance companies frequently undervalue these vehicles by considering the lowest end of their market value when insuring, they come at an affordable price. Some of the cars are well-maintained, and only require some cosmetic changes. You can, therefore, save a significant amount of money on your purchase even after deducting the cost of repair.
It is already evident from this discussion that accident damaged repairable cars are utility vehicles for their low price and a wide variety of inventory. In this context, though, you need to keep in mind that sign up only with a reputed salvage cars auction site like AutoBidMaster that ensures transparency by providing the complete vehicle history. Additionally, the registration, bidding, and post-bidding processes are hassle-free. You can even inspect your chosen vehicle personally after paying a nominal fee. This consumer-friendly approach helps potential buyers like you to take part in bidding without having to worry about the quality of vehicles and their pricing.