Salvage Car Auctions

How You Can Use Salvage Car Auctions To Source A Cheap Vehicle

Salvage car auctions are often thought to be purely for the trade, and are consequently ignored by much of the buying public. This is a mistake, for although most auctions are only open to trade buyers, it is quite possible to get those trade buyers to buy for you. This will give you the chance to take advantage of the reduced prices which these auctions can bring. Once you understand how the salvage system works, and have at least one successful buy on your record, you can then decide how far you want to take this opportunity.

The first essential is to understand how the salvage market works, and why it exists in the first place. This is a function of legal requirement, as there is obviously going to be a point beyond which the law will not allow a vehicle on the road. It is also a function of the fact that insurance companies need to have a rule of thumb based on statistics, for what they can offer in the way of compensation for premiums paid. If a vehicle needs repairs which will cost more than three quarters of the estimated value of the vehicle, it will go for salvage.

The vast majority of vehicles which go for salvage are sent to an auction, but it is possible for the existing owner to buy the vehicle from the insurance company. Only do this if you have a special reason for wanting to hold on to that vehicle for as long as you can, and only do it if you are sure you can repair the vehicle at something like a reasonable price. If you want to buy a salvage vehicle, you will need to buy from one of the specialist auctions, and that is probably easier than you think.

The salvage auctions are trade auctions which are not usually open to the public, but there are easy ways to buy there. You will find many buyers who are happy to bid on your behalf for a commission. These buyers are the salvage car dealers who usually buy in bulk, so that they can refurbish any vehicle that can be made to work again, and source usable parts from those which cannot. The buyers can make an easy commission by bidding for you.

It has never been easier to bid at salvage car auctions, because the dealers now have an exceptionally fast and accurate information system. Thanks to the Internet, details of listings at many auctions can be quickly fed into one feed and emailed to the waiting potential buyers. No longer is there any need to visit an auction, or even to wait for the post, before you are able to give your bidding instructions. If you can restore your vehicle to usable condition, you can pick up a bargain at salvage car auctions.

 

 

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