So, where do salvage vehicles come from? Over five million vehicles are deemed a total loss each year in the United States, for reasons ranging from a fender bender to vehicles that have been completely burned to a crisp. When a vehicle is considered a ‘total loss’ by an insurance company, it may receive a salvage title.
Different states and insurance companies have their own methods of deciding if vehicles are a total loss, including formulas that factor in depreciation by year, mechanical condition, and physical condition. Just because a vehicle carries a salvage title doesn’t mean it’s only good for scrap metal, though.
For an older vehicle, the cost of replacing a single body panel can ‘total’ a car, because the ‘actual cash value’ of the vehicle is less than what the vehicle is worth on the market. Because of a simple dent in the bumper, it can be considered a total loss.
Some vehicles get caught in a hailstorm, but they still run flawlessly. Hail damage leaves cars covered in (usually small) dents, and the cost of replacing every single body panel is more than the vehicle is worth in the eyes of the insurance company. So it’s marked as a total loss.
Vehicles involved in collisions often receive salvage titles, but that doesn’t mean they aren’t repairable and can’t be driven safely.
So, if a vehicle is determined a total loss, it can be branded with a salvage title. So, what happens to those vehicles? They need to go somewhere, and they often end up at auction yards. But buying from them isn’t as simple as finding the right auction lot, and that’s where we come in. AutoBidMaster gives you access to a huge inventory of clean and salvage vehicles.
Auction Yards and Brokers
Salvage vehicles make their way to an auction yard, but how do you go about bidding on one? Auctions usually require buyers to have a dealer license to participate in their online auction. This means that often, the public can’t access their inventory. There’s another option, though.
AutoBidMaster is a premier Copart broker and your one-stop online vehicle auction: no dealer license required. With us, you can bid on and buy auction vehicles, aided by help of our all-inclusive support team. They’re ready to answer all your questions and help you find the best vehicle that suits your needs. Just give us a call at +1 (503) 298 4300 or submit a contact request form and we’ll get back to you! You can read more about the benefits of using AutoBidMaster as a broker here.
In part 2 of this series, we’ll talk more about AutoBidMaster and what we can do for you. Stay tuned.