Oftentimes, vehicles that are totaled in an accident are sent to the salvage yard. Vehicles are considered totaled when the cost for an auto body shop to fix up the vehicle exceeds the overall value of the vehicle, resulting in a salvaged title and usually a trip to the junkyard. However, that doesn't mean that a salvaged car is not fixable or drivable. If you are willing to fix up the vehicle, you can get a good deal on a car from a salvage yard.
Find Out How the Car Was Damaged
The first thing that you need to do is find out how the car was damaged. After a crash, the damage on a vehicle is rated from A to D. A is the worst type of damage, whereas C and D is workable damage.
When looking at salvaged vehicles, see if you can get the damage report on the vehicle that explains everything that was damaged and why the vehicle was considered totaled. Bent frames can be difficult to fix. However, damaged body panels can be affordable to swap out and fix. Knowing the type of damage that the vehicle has can help you determine if you are capable of fixing the vehicle.
Expect to Pay Cash
When you purchase a car from a salvage yard, you should expect to pay cash. Banks do not want to finance the purchase of a vehicle that insurance companies have written off. You are going to need to have the cash on hand to broker a deal if you want to purchase a vehicle from a salvage lot.
Even if you fix up the vehicle, the title will still be salvaged, thus reducing the value of the vehicle.
Registration May Require Certification
When you pick up a car from a salvage yard with a damaged title, registration can be a little trickier than when you purchase a brand-new vehicle. In some states, a repair shop will have to inspect your vehicle and certify that it is safe to drive before you can register the vehicle, which means you will need to fix up the vehicle before you can register it. In other states, a law enforcement officer has to inspect the vehicle before it can be registered to drive when it has a salvaged title.
Need to Carry Liability Insurance
Although you can carry full insurance, it may not be worth it. Some states will not allow you to carry full insurance on a salvaged title. However, you will be required to carry liability insurance, so you are going to need to purchase an insurance policy for the vehicle as soon as you purchase the vehicle.
A salvage yard can be a great way to get a really good deal on a vehicle if you have the time and ability to fix up the vehicle on your own. You'll need to carry liability insurance on the vehicle, and you may need to have your vehicle inspected before you can register your vehicle. When purchasing a salvaged vehicle, don't count on financing; you are going to need cash for the purchase.
For more information about previously owned cars, talk to a used car dealership.Share