Wrecked Car for Sale
A good way to make your first car purchase is to find a wrecked car for sale and rebuild it. By searching online, you can find salvage auto auctions listings at Auto Bid Master for thousands of used cars, including cars that have been wrecked and are being sold by insurance companies. If the cost to repair a car will be as much as the book value of the vehicle, an insurance company will write it off as a total loss and settle with the policyholder for the book value. The insurance company is then stuck with a wrecked car to get rid of, and they do not want to go to the time and trouble to try to repair it. By offering the car up for auction, they will get some of their money back, and the buyer will have the opportunity to salvage parts from the wreck, or to rebuild it. Cars that have been declared total losses can sometimes be repaired for far less than the cost of buying a similar used car that is still in good working order.
Considerations When Looking at a Wrecked Car for Sale
If you are an amateur mechanic, or are just handy with tools, and own a vintage car that you maintain yourself, buying a wrecked car of the same model might be a good way to get access to difficult to find replacement parts. If you are hoping to buy a wrecked car and restore it to good running condition, there are a few things you should consider before you put any money down.
Check your state motor vehicle laws to be sure they will issue a title for a rebuilt wrecked car. Laws vary from state to state. An online company like Auto Bid Master can help you decipher the regulations in your state. If you have found a wrecked car that you are interested in buying, get as much information as you can about its history and condition. If the damage to it is mostly cosmetic, involving bent fenders and broken glass, but frame is not bent, you may be able to come out ahead by buying it and rebuilding it rather than buying a used car from a dealer in good working order. Be sure to look for corrosion or water damage that could indicate the car was salvaged from a flood.
Get a Good Deal When You Bid
Before you place a bid on a car you want to rebuild, take the time to work up a list of expenses you will incur to finish the whole job. Include costs of transporting the car to you, legal paperwork, and parts and labor that you will have to pay for to get the car into good running order. After you know what your costs will be, shop around and find out what similar cars in working order are worth. Then you can set your bid at a price that will guarantee you a good deal if you are the winning bidder.