For those looking to save a lot of money on a vehicle, purchasing a salvage vehicle is a great way to do just that. A salvage vehicle is generally a car that has sustained enough damage that the potential repair costs exceed the vehicle’s value. As a result, it is deemed totaled by the insurance company. Although salvage vehicles are deemed unfit to drive, they can be repaired to look as good as new and roadworthy again. If you’re interested in taking on the challenge of purchasing and fixing up a totaled vehicle, here are some helpful tips for buying a salvage car.
Consider the cost of repairs
One of the main
benefits of purchasing a salvage vehicle is the incredibly low price that they typically have. However, if you aren’t planning on repairing the vehicle yourself and it has undergone severe damage, repair costs could be significant. As such, it’s important to factor such costs into your vehicle’s purchase price to ensure that it’s worth buying. To get a good idea of the potential cost of repairs, ask for a copy of the vehicle’s original repair estimate.
Get a pre-purchase inspection
You should never purchase a salvage vehicle before getting a proper pre-purchase inspection by a professional mechanic—preferably one that doesn’t have any ties to the seller. By getting your car inspected, you can be alerted to any potential issues that the car—even issues that aren’t immediately visible. After the inspection, the mechanic can likely provide you with more information regarding the predicted cost of repair for the vehicle’s damages.
Purchase from a reputable source
Where you purchase your salvage vehicle from truly matters. In some cases, auction sites or dealers attempt to lure unsuspecting buyers in with low prices to get them to purchase a vehicle that was illegally altered or obtained in dishonest ways. To avoid such untrustworthy car dealers scamming you, do your research on the entity you’re purchasing your vehicle from before signing any papers. If you uncover a significant number of complaints or poor reviews, you should avoid making a purchase from that entity.
