While many people still shy away from buying salvage cars, others find the savings in buying these cars desirable. A salvage car, on average, loses almost 50% of its retail value after repairs. A vehicle with an original price of $20,000 may cost only half as much at online salvage auto auction sales. Though these salvage cars may come with some risks, if you research thoroughly and take a few precautions, you can find a quality car that meets your expectations. Continuing on the subject, in this blog, we will discuss four tips that can keep you from getting a bad deal when buying a salvage car at an online auction. Read on.
Choose a Reputable Salvage Car Dealer
Buy a salvage car only from reputable dealers. Ask your friends to give you updated information on reliable dealers to help you narrow down your search. At the same time, even if the dealer appears legit, look up their auction website and check for customer testimonials. If most of the previous customers are a dissatisfied lot, know that the dealer is not worth your time.
Run a VIN Check
The best precaution you can take is to perform a history check on the vehicle you are considering. Running a VIN check is fairly simple. Most reputable auction platforms give you the VIN number of a vehicle; go to any VIN check platform online and obtain a report about the vehicle. You can find out complete details about the vehicle, including its accident history, if there is any.
Opt for Physical Inspection
It is a great idea to have a trusted friend or a professional inspect the vehicle and give you advice. The professional you hire should have no ties whatsoever to the dealer selling the salvage vehicle. A physical inspection helps you assess the entirety of the car and gain a better understanding of the parts that need repairs and the estimated costs. It is also essential to have a post-purchase inspection after rebuilding to be sure the car is in a roadworthy condition.
Stick to your Budget
Before placing a bid, set a price beyond which you will not spend. Stick to your budget and do not get carried away. Remember that auctioneers will always try to achieve the highest price. Learn the original retail price value of the car you are considering bidding on. A salvage rebuilt car is usually valued at around 60% of its original price. It is, therefore, advisable to go lower but not above this figure when bidding.
Wrap Up
Buying a salvage car requires a tactful approach compared to purchasing pre-owned cars. Whether you are buying for your use or for dealership business, make sure you get the vehicle inspected prior to bidding and even after delivery of the vehicle as well. Lastly, consider customer testimonials, ease of registration, bidding process, and shipping solutions when choosing an auction platform.
