Salvage Car Auction :  All you need to know

July 31, 2018 Paul Kennedy 0

Introduction

Frequently than we imagine, many cars and trucks get involved in totally wrecking accidents that leave these vehicles in a very bad state, often considered irredeemable by the insurance company because the repair cost is too high when compared to the value of the vehicle  . In these cases, the insurance company pays some amount to the car owner and then takes possession of the vehicle which will now be issued with a salvage tittle. The salvaged auto will now be sold off as scrap or rehabilitated before being sold in salvage car auctions.

Participating in a Salvage Car Auction

Many persons frown at the prospects of getting an automobile through the salvage car auction but this have proven to be the preferred destination for auto buyers who look forward to an incredible deal and aren’t wary of repairs.

In most areas, participating in a local salvage car auction requires that you bear a dealer license. However, this doesn’t preclude you from participating. Only, get a broker who has the dealer license that allows him or her to be part of the salvage car auction on your behalf, the broker will surely be of great helpduring the vehicle inspections and bidding.

Today, plenty of online salvage car auction sites abound, giving a prospective buyer access to a much broader inventory and at prices that suit your budget. Participating in online salvage auto action will only require that you deposit  10% of your total bidding power, then you can set off to find salvage vehicles within your bidding limits . As you look, be mindful of the vehicle’s history reports and insurance repair estimates, which will help you estimate the cost of full repairs. It is wise to take these decisions with the broker assigned to you. Click here.

Considerations in buying a salvage tittle

Purchasing a salvage tittle can be good business if you know how to identify the red flags. In buying a cost effective salvage tittle, it is wise to check which elements of the vehicle were damaged and if the damages were enough to label a total loss. If critical elements like the engine was damaged, it is wise to forego the salvage tittle, however if it is cosmetic damages, you will then need to see how much the cost of repair will gulp. Also, when going for a salvage car auction inspection, going along with  a mechanic is advised. Also, working closely with a broker, will avail you to plenty of information about the history of the car which will be go a long way in determining your choice.

Conclusion

Salvage tittles have become the hotcake for persons looking for cheap and inexpensive cars , but all don’t seem to be want it looks. A lot of digging into the past have to be done to avoid picking up a deadwood that will cost a fortune before it roars back to life. Online auto action for salvage tittles presents a whole lot of opportunities.

4 Reasons to Buy a Salvage Car in a Dealer Auction

March 18, 2018 Paul Kennedy 0

Recently there has been more auto auctions, and more people want to explore the world of car auctions. Many websites are popping up which provide the average consumer to participate in the world of used car auctions. This has helped save many consumers’ money on their purchases. One of the largest misunderstandings about car auctions is that you won’t be able to salvage cars. Many people don’t believe that used vehicles can be repurposed to work like brand new cars. So, if you’re not already choosing to buy a salvaged car, you can take a look at these below four reasons to purchase a salvaged car at a dealer auction.

Salvage Spare Parts

If you know a person or are the type of person, who has the interest to restore used vehicles, purchasing a used vehicle can be an incredible resource to find used cars at a salvage car auction. Used vehicles can be used by auto enthusiasts as an excellent source for spare vehicle parts. In most cases, you even might be able to salvage an entire car for spare parts and sell them for the same or an increased price. This gives you an advantage of gaining a profit for a smaller investment. You can also make big money by doing all of the repairs yourself. So if you’re familiar with how to fix cars, you can turn this into a permanent, substantial way to get extra income.

Know the Mechanics

If you’ve always imagined yourself to be the type of person to be laying down in the garage working on a vehicle, this could be an excellent chance for you. A salvaged vehicle is the perfect place to start learning about how to fix a car. Used cars have minimal investments, and therefore you can use the rest of your budget for restoring the vehicle to a higher price. You can customize the quality and upgrade the vehicles modifications to fit the current market. Read more.

Create a Business

Maybe restoring cars has been a hobby of yours for awhile. If you have the talent, you could potentially turn your hobby into a business by frequenting used car auctions. Selling and restoring cars isn’t a complicated job, and as long as you know what you’re doing and how to upgrade the specs of the older vehicles, you can quickly make a profit. There are so many classic collectible cars on the market which are still in pretty good condition. Use this as a chance to repair these cars and sell to a consumer either in the US or overseas.

Save Money

One of the biggest reasons you should consider buying a used car is because it’s one of the easiest ways you can save a large sum of money on a car. Many new vehicles cost a fortune and take some days to weeks to process all of the paperwork. A used vehicle can be found for a small fraction of the price, and you’ll often find you’d save more than you would have if you went to a dealership.

In Conclusion

If you’re looking to either gain a profit, start a new business venture, or invest in a used vehicle. The world of online auto auctions could be a further potential aspect you can add to helping you find the perfect vehicle to either salvage or fix up to use. You’ll save more money in the long run, and you’ll find some rare or exotic classic car models that you’ve been dying to get your hands on. Check out this site: http://www.regalmotors.net/used-cars-auction-3-tips-for-getting-the-most-out-of-auctions/

car auctions

Your Guide to Buying at Car Auctions

April 10, 2017 Paul Kennedy 0

If you’re looking into buying a new car and want to grab a true bargain you need to head over to a car auction. This however can be risky if you don’t know a lot about cars. But if you are properly prepared for it a car auction is the perfect place to pick up a new vehicle at low cost. checkout latest reviews from the original source.

Do your research
Before you even attend a car auction there is a lot of information that you need to sort out, especially if this is your first time at such an event. If you have never attended an auction before my advice to you is go to one purely just to see what it is like and to get a feel of how such an event operates. You will start to get an idea of how auctions are run as well as some of the terminology that is used within them, for example direct cars means the car has come direct from an owner or it is an ex-company car.

When you do decide to purchase a car from auction you also have to set out how much you can afford to spend. This is your budget and it is very important that you stick with it; it can be very tempting when an auction gets underway to keep bidding but make sure you know your limits. You should also take on board information and options available from professionals, for example it is advised that you aim to buy a car that is between two and five years old.

I feel it is safe to say that auctions aren’t for everyone but if you do your research and decide they are for you then the next thing you should aim to do is find out about the way in which car auctions operate. check other lists of cars in auctions at https://en.wikipedia.org/wiki/List_of_most_expensive_cars_sold_at_auction

Types of cars at auction
All of the vehicles that are sold at these auctions are done so on behalf of their owners, all of whom complete a legally binding form, generally known as entry form. Within this document they will have to state the vehicles age, mileage and the condition which it is in. With all of this information collected a reserve value is set against the car, this represents the lowest figure that the seller will accept, meaning an auctioneer will not be able to sell below this value.

In some auctions the vehicles are put into certain categorizes, some examples of these categories are executive sales, late year sales and low mileage sales. In most cases however any type of vehicle can turn up and be sold.

The day of the auction

car auctions
The viewing at an auction normally lasts for an hour and starts at 9am, after this the sales will begin. On the day of the actual auction all of the vehicles involved would be lined up by lot and in order of their correct sale section ready to be sold. They would be presented in well-lit viewing areas so you could look over all aspects of the car.

Information and facts about the car would then continue when the auctioneer describes it to the buyers, in some cases the car would also be driven into the auction hall. It is very important however that you listen closely to what the auctioneer says as this description is legally binding. The auctioneer could be informing you of any major faults, the existence of a service history and MOT and whether there is a reserve price. Once the information has been recited by the auctioneer and only when this happens will the actually bidding start on the car.

Generally in auctions involving cars the bidding is done in £100 increments or less, in some cases however the bidding can involve £200 or even bids into the thousands. Just make sure that if you are bidding you raise your hand clearly.

When it comes down to it the most important aspect of car auctions is doing your research. The more prepared you are the easier it will be for you to get your head around the way in which auctions work and the more chance you have of gaining a decent car at a decent price classic car title loans.

auto auction

Repossessed Car Auctions – Giving You All the Facts

April 10, 2017 Paul Kennedy 0

There are many options for individuals looking for deals on cars today. Finding repossessed car auctions can give you an opportunity to save a lot of money on a newer model car that is in terrific shape. Many of the cars at these auctions have been turned in by their owners because of a financial setback or serious incident that has made it impossible for them to make their vehicle payments. checkout my latest blog posted at http://www.24racewayinmoberly.com/are-you-looking-for-car-auction-sites-online/

In the past car auctions were limited. There were auctions held for dealers where the newer model cars were often sold. When a car made it to the public auction, it was not in the shape that would meet the needs of most people. However, with over 1. 6 million vehicles repossessed in the past year, the public car auctions are offering a great variety of vehicles to bidders.

Banks, credit unions, and lenders repossess cars when the owners cannot make their payments. In many cases the cars are late model vehicles that have not been driven more than a few thousand miles. The lenders must recoup as much money on the loan as possible and find that the fastest way to accomplish this is through auctioning the car off.

Before the economic downturn many people were buying new vehicles regularly. When a new fad car was introduced, people in certain clichés had to purchase the car. Even though the payments were very high, they felt confident that they could make the payment. When the economy tanked many of these same people found they making far less money than previously and the high vehicle loan could not be paid. Instead of driving the vehicle, many of these people turned their vehicles back to the lender. These vehicles are in perfect condition, have little if any wear, and have extremely low mileage.

Late model vehicles also go to auction that have higher mileage because they were used for a few excursions before being repossessed. These vehicles normally have little damage and wear. They may have higher mileage and some interior damage if there were small children in the vehicle.

auto auction

A person who has gotten a loan using their vehicle as collateral may have their vehicle repossessed when they cannot make their loan payment. These cars are usually older model cars with high mileage. When the car is repossessed, the bank does not expect to receive the value of the car and a person may find that the car has some issues that will need to be addressed by a mechanic after they purchase the car.

When attending car auctions you will find that there may be thousands of vehicles available for bidding. There will be a wide range of choices of models, makes, and styles. Some of the cars will have every option available for that vehicle while others will be simple and basic models. The cars cannot be driven, but if you arrive early you can inspect the cars and start them to hear the engine.

Some auction houses provide a 90-day warranty on the cars that are purchased. However, when bidding on vehicles, it is important to remember that it is being purchased “as is.” Any repairs or damage that is discovered after purchase will be your responsibility. Some people attend the auctions with a mechanic to look over the car before bidding on it.

By taking some time to get information on the cars history and value you will have a better idea of how much to bid on the vehicle. In some cases a lender will want the bidding to start out high on a vehicle. However, the lender will take less if the bid drops. When a person is prepared and knows what they want, they can usually save forty to sixty percent on a vehicle when purchasing from repossessed car auctions.