What to Expect At Salvage Auctions

Whether you’re attending a salvage auction for the first time or you’ve purchased more than one vehicle from a salvage yard, be prepared to make a few inspections and ask lots of questions.  While you likely know that the car you’re interested has probably been totaled or needs expensive repairs in order to be fit for the road again, expect to ask several questions to ensure you’re making a wise purchase. Ask about the severity of the car’s damage. In most cases, the car was in a wreck, but you should also inquire about whether the vehicle was damaged due to a fire or flood.

You should also ask about the damage category the car falls in. If a car is in category A or B, the damage is pretty severe and will likely take lots of effort and money to fix. Cars in the C and D categories will likely be easier to repair. Be very clear on the extra funds you’ll have to shell out to get the car in working order after you win it at the salvage auction.

Know The Facts About Financing

In most cases, the cars you find at a salvage auction won’t be financed. You’ll have to pay for the vehicles in cash. However, you can still ask about financing if you’re purchasing an especially expensive car. It’s also pretty rare for salvage dealers to offer warranties on cars, but ask just in case. If you can, get a warranty that will keep you protected financially in case something goes wrong with the vehicle while it’s in your car.

 

Get the Right Documentation

Expect to get all the facts about insurance and registration on the auto you’ve purchased before the salvage auction ends. Most insurance companies will offer you at least liability insurance for cars that are considered salvage vehicles, but you should try to get as much insurance coverage as possible to increase the chances that you and your loved ones are safe while you’re on the road.

When it comes to registration, a police officer may have to inspect the car before you can register the car and drive it. Or, you might live in a region that requires the car to be cleared by a dealership or body shop after the vehicle is inspected.

Remember that you should also inspect the car as much as possible before putting in your final bid. This may be a little difficult if you’re attending the auction online, but don’t be afraid to ask as many questions as you need to so that you’ll feel comfortable with your purchase. Request to see pictures of all angles of the vehicle before you make the final decision to buy. Keep in mind that it can be pretty difficult to return a salvage vehicle, so if you’re attending a live auction, it may be best to take along a mechanic with you to ensure that you’re making a wise purchase that won’t cost you more money in the long run.

 

Sources

http://auto.howstuffworks.com/under-the-hood/salvage-used-junkyard-parts/10-tips-for-buying-a-salvage-auto.htm

Leave a Reply

Your email address will not be published. Required fields are marked *