Buying a salvage car is always an exciting proposition for the budget conscious. Whether you are looking for a top of the line luxury sedan or a monster truck capable of taking on formidable terrains, or for that matter, any kind of vehicle, salvage auto auctions in Florida and other places give you an opportunity to buy your favorite vehicle without breaking the bank. Having said that, buying a salvage car is not the same as buying a new or used car with a clean title. Therefore, to help you make an informed decision, in this article, we discuss the pros and cons of buying a salvage vehicle. Read on.
The biggest perk of buying a salvage vehicle is the remarkable savings you stand to receive. That is because most of the vehicles featured in salvage auto auctions in Florida and other places are going for unbelievably low prices, which not only allows you to buy cars without breaking the bank, but you can also consider going for a top end vehicle that otherwise might be beyond the scope of your budget.
Possible High Value
When it comes to salvage auto auctions, there is a fair possibility that you may find a rare model or get your hands on a vehicle that needs little to no repairs. In addition, you can also find theft-recovery and bank repossessed cars that are generally worth every cent of their price. In all such cases, you can possibly end up buying a car at a much lower price point than its actual market value.
Another perk of buying salvage cars is that it allows you to find rare parts that are otherwise not on the market, and manufacturing them either calls for some serious investment or is simply unfeasible due to any uncontrollable dynamics. This is particularly relevant for discontinued and classic cars that have grown in value over time but their parts are almost impossible to find.
Insurance Availability and Premium
The biggest drawback of buying a salvage car is the availability of insurance. When salvage cars have been deemed as total loss by their previous insurance companies, not many insurers are willing to offer insurance coverage for them. Even the ones that do, generally charge a higher premium compared to what one would pay for a similar used car with a clean title.
Once a car has been given the salvage title, it must be fully restored and should pass a service check at the local DMV before it can return to the road. Even in cases where a car qualifies the assessment, it is given a “rebuilt” title. Cars with a “rebuilt” title generally have a lower resale value than similar cars with a clean title.
While it is true that buying a salvage car may not be as straightforward as buying a new or used one, the perks you stand to receive certainly makes it worthwhile. If you are considering buying a salvage vehicle and are looking for a trusted platform, the search ends at AutoBidMaster. Our salvage auto auctions in Florida and other places are open to the general public, which means you don’t even need a dealer’s license to buy a salvage vehicle through our auctions. Register today to start bidding on your favorite car. If you have any questions, simply call: +1 (503) 298-4300 or email at [email protected].