You may have heard about public salvage auto auctions through a friend or saw something about them online. Either way, they're a great way to find your next new car. But don't dive in head first without knowing your stuff or else you can get burned. Take a look at the following list of FAQs to help you along the way.
1. What're salvage cars? Salvage vehicles are cars that have been in an accident, fire or flood and have been deemed total by the last owner's insurance company. So although you'll be able to save a couple $ 1000 by buying going to a public salvage auto auction, you'll have to make some repairs on the car you end up buying.
2. What're the pros and cons of buying a salvaged car? Some of the pros are saving a couple hundred or thousand dollars on a reliably new car and not having to haggle with a dealer. Some of the cons aren't being able to get full liability car insurance, having to make repairs that can be costly and never really know the full amount of why the car was given a salvage title in the first place.
3. How much do cars cost there? It all depends on which salvage auto auction you go to, the type of car and how many other people are bidding on it. But you'll usually pay at least a couple thousand less than you'd at a car dealership and way less than you'd expect at a regular car auction because most of the cars for sale need repairs.
4. Where can I find one in my area? You can get a list of a couple of salvage car auctions in your area by using a car auction listing service. They give you the name, address, phone number and website (if they've one) of several auto auctions near you within a matter of minutes.
Now, that you've a better understanding of public salvage auto auctions, all you've left to do is find one near you and drive off the lot in your new car. For a refurbisher, salvage cars are those that have been labeled total by insurance companies that you can buy from auctions at an incredibly low price. Some of the pros and cons of buying one are saving tons of money and having to make repairs. And you can get info on the ones closest to you by using a car auction listing service, which will save you both time and money.