Extent of Damage
A car is considered as salvage when the cost of repairing the car is more than 75% of the total cost. However, the percentage of repair cost can vary among different states as laws related to salvage vehicles are made by the state governments and not federal government. Cars are marked as salvaged due to various reasons. Vehicles damaged as a result of vandalism, stolen, flood damage vehicles, or any other damage that requires excessive repairs are considered salvaged.
The extent of damage caused determines the repair work that is needed for the car and the expenses you need to incur. You buy salvage cars to save money and not to over spend it. There are experts who can provide you with a detailed report of the extent of the damage and the estimated cost of repairing the same.
Check the History
There are companies that sell the reports about car history that provides you information about number of times the car met with an accident and the reason behind it being declared as salvage. This will enable you to find out whether or not there was an accident. In case the car had made multiple trips to repair shop before being declared total loss it is advisable to avoid the car as it might lead to various problem in the future.
Should you Buy or Not?
There are individuals who won’t mind buying a salvage car as it is a great option for first time buyer, people who are on a tight budget and for those looking for a second vehicle at an affordable price. Luxury vehicles lose a great deal of their value once they are branded as salvage and this sometimes leads to a vehicle being available for two-thirds of its selling price.
How to Buy Salvage Car?
There are online auctions that offer salvage vehicles which is a good place to start for first time buyers as auction sites have a transparent process to protect the buyer. Once you have short listed the car get it inspected by a certified mechanic to assess the damage and get an estimate of the repair cost to save you from major expenses later.
Once you have decided on the car, fix a budget that covers auction cost and related fees, transportation fees, repairs, to remove the salvage title and insurance cost. While placing a bid ensure that you don’t go over budget.
Conclusion
There is a huge collection of salvage cars that are for sale in USA and you can benefit from this market if you are diligent to find your desired car.