Reasons to Buy a Salvage Vehicle
Insurance companies give a salvage title to a vehicle if it has suffered severe damage through a collision, accident, or a natural calamity. As these vehicles are considered impaired, you can buy a salvage car at a considerably lower price than the market value.
However, you cannot drive around in a salvage car without repairing it and receiving a rebuilt title. So, you’ll need to repair any damages and get it evaluated by the DMV. If you have correctly fixed the vehicle and it is safe to drive, then the DMV will change the salvage title to a rebuilt title.
While this process may be a hassle to go through, there are some solid reasons for investing in a salvage vehicle:
Access to Low-Priced Vehicles
It is no secret that vehicle prices are soaring due to chip shortages and increased costs of raw materials. As a result, your dream of owning a vehicle will require significant savings. Fortunately, you can buy a salvage car at a low price and accomplish your mission of becoming a car owner. This is because salvage vehicles are available at 20% to 40% less than their market value.
Moreover, you don’t have to pay third-party costs when you purchase a salvage car from an auto auction platform, such as A Better Bid. All you have to do is register for free on the ABB website, find listings for salvage vehicles, select your favorite car, and place the winning bid. ABB allows you to buy exclusive vehicles at wholesale prices. As a result, you can get a car within your budget.
Choose from a Less Damaged Fleet
Contrary to popular belief, not all salvaged cars are beyond rescue. Most cars have easily fixable damage, such as damage to the body of the car. So, even though you have to do a repair job, the vehicle’s final cost will still be less than buying a clean title car.
To help you find a good deal, car auctions have thousands of automobiles in inventory with minimum and maximum damage. For example, ABB has 300,000+ vehicles listed daily for you to explore. Your job is to go through the listings and locate an economically-priced vehicle. Next, you can determine the repair cost by examining the vehicle history report (ABB provides this document to its Pro and Premium members). You can then place a bid if the vehicle and repair costs align with your budget.
A Treasure Trove of Spare Parts
Salvage cars are a blessing in disguise for first-time car buyers, but it is also a treasure trove for people who love fixing cars on their own. So, salvage vehicles are the way to go if you appreciate having open access to a supply of authentic parts. Often, you can find vehicles with valuable components that are priced extremely low.
When you invest in such vehicles, you can strip off all the components and use them to repair your ongoing project. This way, you can procure genuine and original car parts at affordable prices.
Start a Fun New Project
A salvage car is a perfect project for car-fixing enthusiasts. These vehicles will allow you to spend long hours tinkering in your garage. Moreover, it will be a great opportunity to test your skills and vehicle knowledge.
You can choose between an extremely damaged vehicle to push yourself or purchase a vehicle requiring a minimum repair job. One of the best things about fixing a car is that you can customize it according to your needs and preferences. For example, you can install extra safety features for more secure rides. Or you can give it a new paint job.
Resell to Gain Profits
Reselling a “revived” salvage car is an excellent way to secure additional profits. As far as side hustles go, not only will you earn good money, but bringing a totaled car to life will also result in feelings of satisfaction and pride. As ABB offers various makes and models, you can select one that works best for your needs.
For starters, you should choose a car with less cosmetic damage. It will be easier to fix the mechanical parts by yourself. Once you know the car is in safe drivable condition, you will have to get it evaluated by the DMV to get a rebuilt title. Selling the car after obtaining a rebuilt title will help you secure a good deal and potentially earn thousands of dollars in profit.
Increase Your Rare Car Collection
A salvage car auction is like heaven for rare car collectors. Online auto auctions even list vehicles manufactured in the 1920s! Therefore, you can increase your car collection by purchasing salvage vehicles. When surfing for a classic car on ABB, you will easily find vehicles with zero to minimal cosmetic damage. As a result, you can land yourself a valuable gem to expand your collection.
Most salvage cars have repairable damage that you can fix yourself (if you know how to fix a car) or through a mechanic at an economical price. You can buy these vehicles for personal use or to collect critical components for classic cars. You can also take up a salvage car as a DIY project and resell it for additional profits.
So, if you want to purchase a salvage vehicle at a wholesale price, head over to ABB and select your car from their massive inventory. You’ll surely find a vehicle that checks off all your boxes!