What is a Salvaged Title?

What is a Salvaged Title?

Cars that have been damaged due to weather, wrecked during an auto accident, or stolen then recovered are often written off and turned over by insurance companies to auto auctions, be they online or otherwise. They are then issued what is called a salvage title, meaning the car may have either visible or unseen problems and issues, but can probably still be salvaged or rebuilt. The state issues such a title to let the buyer be aware of such problems, giving them a thorough history of what the vehicle has been through and the damage is may have received.

Cars with salvage titles can be used for several different purposes. Due to their typically low price tag, salvage vehicles can be a good buy for both enthusiasts who enjoy rebuilding cars regularly, or for somebody who has never rebuilt a car but wishes to start the hobby and try their hand at it. Cars that have been damaged to a certain extent are often written off as totaled by insurance, meaning they find the cost of repairs to exceed the cost of the car. This provides a perfect opportunity for a buyer to find an affordable salvaged vehicle. Salvaged cars can also provide necessary parts that may be hard to find otherwise, which can aide in the restoration of perhaps a classic car or any other current project you may be considering. This is useful if the car you’re restoring happens to be a similar make and model.

Auto auctions are a great place to seek out cars with salvaged titles, as that is where insurance companies tend to turn them over. Auctions also allow the buyer to name their price with a bid, which almost guarantees a low price. Online auto auctions can connect you to a wide variety of cars both from local and out of state sellers. Finding a car from a local auction means the buyer can go check out the car themselves, and may even discover that the vehicle is not as damaged as originally thought. Asking to take a car on a test drive or to a trusted mechanic are both smart choices when considering bidding on a local salvaged car, as salvaged cars are typically sold “as-is.”

Online auto auctions brokers like Global Auto Auctions can save you most of the grunt work in bidding on a car. They will handle any interaction between you and the seller, making sure the paperwork and payment transactions go through smoothly. If you find a car that is not local, Global Auto Auctions will make shipping an easy process should you decide to handle shipping through them. When you find a salvaged vehicle you decide to bid on, be sure to factor in what it may cost to repair the car, strip it, and ship it. That way, you can make a smart bid for your budget that also makes sense for the level of damage the car may have incurred.

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