Salvage cars are severely damaged as a result of flood, accidents, or any other natural calamities and left at the mercy of insurance companies. If the insurance company finds out that the repair cost of the vehicle is more than its actual market value, it is given a salvage title. These vehicles might continue to deliver exceptional performance for several years - provided you hire an experienced mechanic.
There are many car enthusiasts who plan to buy a vehicle out of necessity but don't have sufficient money to afford a new car. An effective alternative is to invest in salvage vehicles that are tagged as safe to drive because of their high specifications and superior built quality. 2011 Buick Regal, 2007 Ford Edge, 2010 Suzuki Kizashi and 2007 Mazda CX-7 are a few vehicles that are safe to buy, even if they are used or come with a salvage title.
When an individual decides to buy a salvage car, here's what he gets:
Low Cost
The advantage of a salvage car is its affordable price, which at times might be 40 to 50 percent lower than the retail value of the car. If you buy a salvaged Toyota for $4,000, for instance, you need to hire a technician to get it repaired for another $1500 - this is definitely not a bad deal. The clause here is that the car needs to keep chasing the miles without any technical flaws.
Chance to Own a Dream Car
Thousands of cars are given salvage title every year, so there is a chance that you may find your dream car at an online auction. Many people are unable to afford a high-end luxury car and turn to salvage cars to make their dream come true. There is a good chance that you might get a clean title for the vehicle after making some major and minor repairs.
Selling Advantage
There are chances you might end up selling the revamped salvage car after using it for 2-3 years at a higher price. Salvage industry is a huge business and many buyers purchase the totaled vehicles only to repair them, get a clean title and sell them for a huge profit.
Salvage cars come with advantages and disadvantages – it all depends on how good you are at making a decision. Careful inspection, information about the history of the vehicle and market research are the three things a buyer needs to do to make a profitable purchase.