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/

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.