The used car market in the US is steadily growing, with the compound annual growth rate expected to be about 5.5 percent over the next 6 years. Considering the huge savings, low depreciation and insurance rates offered by pre-owned vehicles, it makes sense to purchase a damaged car for sale from salvage car auctions rather than spending a fortune on a new car. While not all used cars would be worth your money, you can easily find a repairable accident-damaged car at an amazingly low price by participating in our online insurance car auctions. To help you decide whether or not to buy accident damaged cars, we’re outlining a few key factors to consider. Read on.
Factors to Consider
When purchasing an accident-damaged car, it is critical to learn about the complete damage history. Although auction platforms provide you with the VIN number to obtain a comprehensive vehicle history report, you may often have to dig deeper. A minor dent in the rear, for instance, may not seem like a serious problem. In reality, though, the damage that caused the dent may have also impacted the suspension or other parts of the car. Hiring a professional to inspect the vehicle can help. More on that in the next section.
Professional Inspection Report
One of the biggest and most common mistakes most car buyers make is not getting their vehicles inspected prior to bidding. Apart from checking the VIN report and performing a visual inspection based on the vehicle photographs, we suggest having a professional go and perform a full-inspection on your behalf. By having an experienced professional take a closer look at the vehicle, you can learn everything there is about the vehicle’s condition – allowing you to make an informed buying decision.
Car Insurance Costs
It goes without saying that insurance is indispensable to register an accident-damaged car purchased from insurance car auctions. Before putting your money down on an accident-damaged vehicle, factor in the insurance costs as well. Broadly speaking, insurance costs are determined based on whether the damages are major or minor. Depending on the damages on the vehicle you choose to bid on, allocate a portion of your budget for insurance costs. In cases where the extent of damage is severe and the insurance cost may be steep, you are better off bidding on a model with less damages.
Should You Buy an Accident-Damaged Car?
You can buy an accident-damaged car when it comes under your budget and has not suffered any serious damage that may invite more trouble down the line. Head to insurance car auctions to bring home accident-damaged cars for incredibly low prices. All you need to do is find a reputable auction broker, research, find a good vehicle to bid on, and get it thoroughly inspected before bidding.
The Final Word
Buying from insurance and salvage car auctions is a proven way to bring home your dream car without breaking the bank. That said, you should exercise caution, research well, and stay completely informed about the vehicle’s condition before bidding. Salvagebid brings you an extensive inventory of accident-damaged cars for sale. Take your pick from vehicles from almost all makes and models. Simply register and place a refundable security deposit to start bidding. If you have any questions or would like to learn more about our insurance auto auctions, call +1 (360) 347-1300 (6:00 AM – 3:00 PM Pacific Standard Time Monday to Friday) or fill out our contact form.