Right from the time I began working part time at a local automobile dealer, I wanted my own four-wheeled wonder. With a tight budget, but a strong knack to restore cars, I decided that participating in an online salvage car auction would be a step in the right direction to seek my car.
Earlier, online auto auctions were open only to licensed car dealers, but now anybody can be a part of these after completing a few simple formalities. These online auctions offer great bargains and one can buy a vehicle at amazing prices.
Although such auctions are gaining popularity by the day, let us talk about the top two misconceptions that are prevalent with them:
Top misconceptions about salvage vehicle auctions:
- Salvage vehicles are totally damaged beyond repair- On the contrary, they are not. When I saw the Daewoo for online sale, the images were quite clear. I could see some damage around the head light, but the vehicle details said that the car had not suffered a major collision. On some research I found that most of the cars listed for auction had little to moderate damage, were either theft-recovered or repossessed from payment defaulters. I can safely say that most cars listed were in good condition.
- Insuring salvage cars is almost impossible- Maybe it is a bit tough, but definitely not impossible. Since salvage vehicles are purchased at very low prices, most buyers are willing to put in extra efforts to get them insured. Most companies offer only liability insurance on salvage vehicles. I did some market research and got salvage insurance for my Daewoo car which I got through a salvage auto online auction. Such insurance protects the owner against lawsuits arising out of a collision. The premium amount may depend on the kind of damage sustained by the salvage vehicle.
Salvage auto auctions are open to people across the globe. They list all kinds of vehicles- cars, SUVs, vans, trucks, ATVs and RVs, to name a few. The constant moving of the clock, the changing bidding values and the ultimate pride of owning your own vehicle; all these factors make online bidding very thrilling.
Overcome the misconceptions, register on an auto auction website, and gear up for an exciting online experience which will get you your vehicle at the best price.