Usually a damaged car which can be repaired is called a salvaged car. Sometimes people individually sell their salvaged car for money or they make money with selling it. Let’s see what needs to be done and followed in order to reselling a salvaged car-
There is some legal procedure that needs to be taken to legalize your selling. Most of them are relating to providing documents to your customers. Let’s see them-
Legal steps for reselling salvaged cars
- Providing a disclosure statement regarding vehicle’s age.
- Provide all the necessary documents to the new buyer.
- Provide salvage certificate to ensure buyer about legality.
- Provide car’s history so that buyers can easily take their decision.
- Salvaged car reselling rules differ from state to state. While reselling it, make sure that you have followed all the rules provided by state regarding salvage car.
- Provide any other document which is possible if customer intends to see.
What to do to resell a car with salvaged title
- While reselling a salvaged car, get a salvage title or salvage certification from proper authority to make sure your acceptability.
- Repair some components and replace them if it’s needed to.
- Make some color to affect potential buyers and make an impression at first sight.
- Don’t make any fraud report on your car to deceive your potential customers. It may ends up in unsatisfactory and fine as well.
With some proper strategy and plan, it’s not that hard to resell a salvaged car. Let’s have a view on some tips and tricks on how to resell a salvage car-
Selling tips for salvaged car
- Fix a value that certainly benefits both you and your customer.
- Plan a marketing strategy of your own especially if you have salvage yard.
- If you have a salvage yard and want to make money with them, you can call for auctions which may results in great benefits for you such as selling a large volume of salvaged cars.
- If you want to resell any single salvaged car without some repair work, it’s tough to sell. In that case selling it to online marketplace would be easier.
Two ways to resell a salvaged car. Sell it with a salvage title or sell it with a rebuilt title.
Selling with salvage title:
It means, you are reselling the vehicle without any kind of repair work and that’s why you are reselling the car with salvage title.
Selling with rebuilt title:
It means, you are reselling the salvaged car with some repair work and it will have a rebuilt title. In most cases, reselling salvaged car with rebuilt title is much profitable rather than selling it with a salvage title.
Selling salvaged car has been a profitable business since last couple of years. Buying a car with salvaged title and selling them either with salvage or rebuilt title, you can make money quite easily. But reselling salvaged car is not always easy. But with proper plans and strategy reselling salvaged car can be a good source of having some extra money.