How to Calculate the Final Cost of a Salvage Vehicle

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If you’re ready to bid on and win a salvage vehicle with Salvagebid, you should know how to calculate its final cost. 

People get confused when they find out that the sale price of the vehicle itself isn’t the final amount they have to pay. The amount you bid only includes the vehicle’s price, while other expenses, such as auction fees and shipping, aren’t included in the bidding amount. 

In this article, we are going to clarify all the fees associated with a vehicle’s final price so you can plan your budget. 

Vehicle’s price

The majority of vehicles listed for sale on Salvagebid can’t be purchased immediately, and you can win them during the live auction. The minimum bid is only $25. However, the price may increase depending on the vehicle’s condition and the number of auction participants. If a vehicle has minor damage and looks good, there may be a lot of interest in it and it might end up costing more than you’d expect.

You can learn more about bidding on Salvagebid by reading this article

Some vehicles are available for immediate purchase and are listed with a  “Buy Now” option. You don’t necessarily need to participate in the live auction to win it. You can buy it instantly for the specific price that’s been set by the seller.

Auction fees

Salvagebid charges a service fee of $250 or 5% of the purchase price, whichever is greater. Also, you’ll need to pay a documentation fee and transaction fee. 

When you win a vehicle, you will automatically receive an invoice which you can pay by bank wire transfer. Make sure you pay for the vehicle and arrange the shipping promptly to avoid incurring storage fees charged by the auction yard. 

Every vehicle listing on Salvagebid has a fee calculator under the field in which you enter your bid amount. You can use it to calculate a vehicle’s final price at your maximum bid. Note that you should sign up with Salvagebid.com to see those details. 

Shipping cost

The shipping cost is affected by many factors, including vehicle dimensions, weight, and distance between the vehicle’s location and your chosen destination. 

The closer an auction yard is located to the port of departure, the less you pay for international shipping. Also, take into account the shipping time. Transporting a vehicle during international holidays may not be a good idea, because the shipping prices are higher due to the heavy traffic.

For domestic shipping, you can choose the vehicles stored not far away from your desired destination.

We recommend shipping with EasyHaul. You can get an instant guaranteed shipping quote right on their website for free and plan your budget accordingly.

Buy with Salvagebid

If you want to know everything about a vehicle’s history, we recommend running a VIN check. It won’t cost you much, and you’ll get details about the vehicle’s manufacturer, make and model, accident and maintenance history, and more. 

If you have already found a vehicle and have questions related to its cost, contact our support office at support@salvagebid.com. Our managers are always happy to help you. 

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