Rebuildable Wrecked Cars
If you are in the market for a new car, but don’t like the prospect of making monthly payments for three years or longer, you might consider looking at rebuildable wrecked cars to find the car you are looking for. There are many ways to find wrecked cars that can be rebuilt for far less than the cost of buying a new car, or even a used car that is still in good condition. Online wrecked car auctions are a good place to start. You can also call your auto insurance agent and ask about how they dispose of cars they acquire through accident claims. If you are a good amateur mechanic or are otherwise handy with tools, you might be able to save a lot of money by salvaging a wrecked car and rebuilding it yourself.
What to Look for in Rebuildable Wrecked Cars
Insurance companies often declare a car a total loss even if it would be relatively inexpensive to repair it. If a car is several years old, its theoretical resale value will be far below the price of a similar new car, even if the car in question has very low mileage and is in excellent condition. If such a car is involved in an accident that causes superficial body damage, the insurance company might declare it totaled simply because the cost to repair it would be too high a percentage of its estimated book value. But, if you can buy such a car at an online salvage auction, you may be able to fix it up yourself for a fraction of what it would cost you to buy a similar used car that has not been wrecked.
When looking at online auction listings, or physically inspecting a wrecked car, you need to be aware of the car’s history and previous damage reports. Cars with bent frames or other serious structural issues may not be worth trying to repair in terms of cost and labor required. Cars that have been salvaged from flood zones may also have a lot of hidden corrosion damage that may not be immediately visible. Used car sales are usually done on an “as is with no warranty” basis, so be sure you know what you are bidding on before you bid.
Getting the Most for Your Rebuildable Wrecked Cars Investment
When you are considering buying a wrecked car to rebuild, be sure to compare prices for similar models that are still road-worthy. Don’t bid so much for the wrecked car that you will end up paying more for it after the rebuilding is finished than you would for a car already in good condition. If you are going to do the work yourself, be sure you know what parts you will need and how much they will cost. If you are having a garage or body shop do the work for you, be sure to get firm bids before you risk your money buying a wrecked car to rebuild.